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Many people have probably listened to Warren Buffett or Charlie Munger thinking they may share some secret that helps them get rich. And while they share some amazing wisdom that has helped them become massively successful in books like "Essays of Warren Buffett" or "All I Want to Know is Where I'm Going to Die so I'll Never Go There."
But after reading a lot of their work, I began to wonder why their lessons may help some people and not others.
For example, Buffett and Munger often talk about getting rid of errors and making investments as close to a sure thing as possible and risk elimination. Or another example is Buffett often talks about the concept of compound interest and how every penny can grow. But if you don't have the ability to multiply every penny 10X, then what do you do?
You won't find the answers to "then what do you do." But you might find an idea that can hold people back and thereby avoid the trap.
By Strategic Possibilities5
44 ratings
Many people have probably listened to Warren Buffett or Charlie Munger thinking they may share some secret that helps them get rich. And while they share some amazing wisdom that has helped them become massively successful in books like "Essays of Warren Buffett" or "All I Want to Know is Where I'm Going to Die so I'll Never Go There."
But after reading a lot of their work, I began to wonder why their lessons may help some people and not others.
For example, Buffett and Munger often talk about getting rid of errors and making investments as close to a sure thing as possible and risk elimination. Or another example is Buffett often talks about the concept of compound interest and how every penny can grow. But if you don't have the ability to multiply every penny 10X, then what do you do?
You won't find the answers to "then what do you do." But you might find an idea that can hold people back and thereby avoid the trap.