Daily Dose of Optimism: Mental Models

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"The best way to think about investments is to be in a room with no one else and just think...if that doesn't work, nothing else will." - Warren Buffett
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"An expert is a person who has made all the mistakes that can be made in a very narrow field." - Niels Bohr

A bit of wisdom from a non-investing source (edited slightly). Explains much of the malaise in today's thinking on government/social and private issues. - Ed

"Reducing things to simple, broadly applicable models violates the key maxim of professional intellectuals, which is "KICS" - "Keep It Complicated, Smartie". The risk to professional intellectuals is that if there really are simple, broadly applicable truths, does the world need to pay for so many professionals devoted to making up and elaborating complicated lies?"

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Daily Dose of Optimism

“I have noticed that everyone who has ever tried to tell me that markets are efficient is poor.” – Larry Hite

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