Warren Buffett and Charli Munger in their 2016 Annual Meeting said:
In Amderica, you dont have to be smart to earn a decent return in business.
You just need to be aversive from stundard supidities!
Thank God, America's business enviornemnt has been like this!
Another aphorism that made BRK a success:
Patience + Opportunism (临机应变主义) + Emotional Control
Some people do very stupid thing (get rich and quickly lose them): They:
risk something that is very important to them
for something that is not very important to them!
Asessing a deal:
1. Business Quality + Human Quality (of the Management)
2. You lose a deal trying to make everything perfect. Being decent is the key.
