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The Tao of Charlie Munger

From the book "The Tao of Charlie Munger" by David Clark.

Waiting

It's waiting that helps you as an investor, and a lot of people just can't stand to wait.

When to Bet Heavily

You should remember that good ideas are rare- when the odds are greatly in your favor, bet heavily.

The Herd

Mimicking the herd invites regression to the mean.