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Warren Buffett a great character to meet.


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A great character to meet.
Warren Buffett is not just an investor. He is a true global finance entrepreneur, and his ability is not limited to applying the correct techniques to select stocks, entry points and position management.

As a successful entrepreneur, you know how to choose partners and collaborators.

The Berkshire vice president is much less known than he is. Buffett calls him "my partner": I'm talking about Charlie Munger, a name you've probably heard a few times, or never.
I have long studied the figure of Charlie Munger and, according to Buffett's own statement, part of Berkshire's success is due to him.

Munger is not a market technician. He is certainly a great connoisseur: but knowledge of the markets is, in his opinion, something that is the minimum, the essential and the normal condition to have any chance of winning in the markets.

In short, technique, which we often consider indispensable to access markets with adequate competition, is only a necessary component and by no means sufficient.

Buffett says of his partner Munger that he is a "30-second mind," or rather the best 30-second mind in the world. That is, you are able to quickly list the essence of each topic or topic or analysis that you face or are presented with. Buffett always says that his skill is "to go from A to Z in one movement".

Munger's real secret is one: he studied different disciplines, trying to get the best ideas. It was not a coincidence, due to his multiple personal interests, but a precise plan of knowledge and personal culture.

This allowed him to configure "mental models". He believes that knowledge of at least 80 or 90 of these models allows a substantial ability to interpret all phenomena.

You must be, says Munger, a "learning machine," a machine that never stops learning, if you want to be successful.

"Psychology of the common mistakes of human minds": the reasons why our judgments or evaluations are wrong, this is one of the areas where we can focus more attention of our knowledge. This is one of Munger's recommendations.

Munger says: If you look for the word "envy" in one of the indexes of the main official texts of psychology, you will not find it. But envy is a devastating market phenomenon and creates huge losses for investors and traders.

You have to turn envy into a positive mental model, which becomes fuel for learning. An exceptional message, which allows us to understand, among other things, the reason for the many "conspiracy" philosophies that see great characters hypothetically involved in imaginative hidden plots of plans for world domination.
Do not get carried away by conspiracies. It points directly to knowledge, to culture, to being a "learning machine".



Maurizio Monti
Traders ’Magazine Italy

This topic was modified 2 years ago by INFISEC ADMIN