Shane Parish, chief writer and creator of the Farnham Street blog, one of my regular reads, writes this about one of his favorite people:
Charlie Munger, the billionaire business partner of Warren Buffett and major inspiration behind this site, is not only one of the best investors the world has witnessed, he’s also one of the best thinkers. A quick recap is in order. Source: Charlie Munger and the Pursuit of Worldly Wisdom
Among the many quotes from Munger is this one:
“A few major opportunities, clearly recognizable as such, will usually come to one who continuously searches and waits, with a curious mind, loving diagnosis involving multiple variables. And then all that is required is a willingness to bet heavily when the odds are extremely favorable, using resources available as a result of prudence and patience in the past.”
It is meant, I think, to be financial advice, but it sounds like more than that.
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