“I believe in the discipline of mastering the best other people have ever figured out,” says Charlie Munger. “I don’t believe in just sitting down and trying to dream it all up yourself. Nobody’s that smart.”

It’s true; no-one knows it all. It’s good advice; no-one has the time (or the money) to learn all the mistakes that can be made investing in the markets. You can learn from better-informed people; more successful people; people who most likely succeeded because they learnt and continue to learn from others. Everything in life is contagious. That includes success and failure...

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