One point that Buffett hammers home nicely is the idea of staying within your circle of competence.  This blog post is a great recap of both Munger and Buffett's view on circle of competence.  However, if you read between the lines, Buffett and Munger are both learning machines.  Munger has said, “In my whole life, I have known no wise people (over a broad subject matter area) who didn’t read all ...

 

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