Key lessons
- Don't just do something, stand there: Charlie Munger
- When management with great reputation meets industry with really poor reputation, its usually the reputation of the industry that remains intact: Warren Buffet
- Avoid buying into positions/companies that are over-leveraged: Warren Buffet
- Early retirement extreme.
When you get too many steps removed from the fundamentals and are forced to rely on experts, you are opening yourself up to being sold bullshit.
- When possible, spend some time to get to at least acceptable levels for tasks you need done periodically
Books we discussed about
- Biocentrism
- Creation
- Early retirement extreme