Be Interdisciplinary

• Have a checklist framework to solving problems with deep knowledge about various fundamental concepts in hard and soft sciences
  • Investing principle checklist involve various factors like risk, independence, preparation, intellectual humility, … —> Page 45-48
• Learn not only from your own experience by also vicariously from the good and bad experiences of others, living or dead.
• Have multiple models — “To the man with only a hammer, every problem looks like a nail”
  • Mathematics — basic arithmetic, compound interest, permutations and combinations
  • Accounting — language of practical business
• Engineering — idea of a backup system, breakpoints, critical mass
• Psychology — Charlie’s eleven talk on “Psychology of Human Misjudgment” is the best resource on psychology
• Microeconomics — explains with the example of scale

Be reliable

• Faithfully do what you’ve engaged to do

Be a learning machine

• Spend each day trying to be a little wiser than you were when you woke up

Some amazing quotes by Charlie:

• A great business at a fair price is superior to a fair business at a great price

To be completed …