“If we don’t know what we do and why we do it, everything else will look like a possible option.”
“By being aware of your own limitations, keeping important decisions inside your circle of competence, and avoiding decisions that are too hard, it is reasonable to feel more confident in your abilities.”
Source: Charlie Munger: The Complete Investor
“Once people said: Give me liberty or give me death. Now they say: Make me a slave, just pay me enough.”
“For the most part, life gives you so many decisions to make and so many opportunities to recover from your mistakes that, if you handle them well, you can have a terrific life. Of course, sometimes there are major influences on the quality of our lives that come from things beyond our control—the circumstances we are born into, accidents and illnesses, and so forth—but for the most part even the worst circumstances can be made better with the right approach. For example, a friend of mine dove into a swimming pool, hit his head, and became a quadriplegic. But he approached his situation well and became as happy as anybody else, because there are many paths to happiness.”
Source: Principles: Life and Work
“Give love a chance. Make magic, and dance. We are romance. At first glance - Take A Stance”
Source: Coming Home
“Goals don't separate high performers; systems do.”
Source: SIMPLIFY: A high performance playbook to win the real game
“High performers not only practice deliberately, they think deliberately.”
Source: SIMPLIFY: A high performance playbook to win the real game
“There is always opportunity cost in choosing one path over others. The betting elements of decisions—choice, probability, risk, etc.—are more obvious in some situations than others. Investments are clearly bets. A decision about a stock (buy, don’t buy, sell, hold, not to mention esoteric investment options) involves a choice about the best use of financial resources. Incomplete information and factors outside of our control make all our investment choices uncertain. We evaluate what we can, figure out what we think will maximize our investment money, and execute. Deciding not to invest or not to sell a stock, likewise, is a bet. These are the same decisions I make during a hand of poker: fold, check, call, bet, or raise.”
Source: Thinking in Bets: Making Smarter Decisions When You Don't Have All the Facts
“For any single decision, there are different ways the future could unfold—some better, some worse. When you make a decision, the decision makes certain paths possible (even if you don’t know where they lead) and others impossible. The decision you make determines which set of outcomes are possible and how likely each of those outcomes is. But it doesn’t determine which of that set of outcomes will actually happen.”
Source: How to Decide: Simple Tools for Making Better Choices
“Luck exerts its influence between your decision and which of the possible paths you end up on. It is the element you have no control over that determines which of the possible outcomes you actually observe in the short run.”
Source: How to Decide: Simple Tools for Making Better Choices