Charlie Munger, the late Vice Chairman of Berkshire Hathaway and Warren Buffett’s longtime business partner, was one of the most disciplined thinkers in the history of business and investing. His philosophy extended far beyond stock picking into what he called “elementary worldly wisdom,” a framework for making better decisions by eliminating the psychological biases that […]
Warren Buffett is widely regarded as the greatest investor of the modern era. But many who study him closely argue that his real edge was never purely analytical. Buffett himself has said that investing is largely a test of character, not intellect. The behaviors that destroy wealth, he believes, almost always trace back to emotional
In trading most new traders underestimate the mental and emotional learning curve of pain and fear that could end up creating their poor trading results. They have a quick winning trade but they fear that the profit will disappear so they sell for a small gain and miss the big trend in their favor. When
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