Twenty Years of Owning Berkshire Hathaway

Every person will have a different definition of what counts as “the long run”, but it is probably fair to say that a decade is thought of as a long time by almost everyone. That is enough time to bring

Farnam Street’s Great Mental Models

“So whatever you wish that men would do to you, do so to them; for this is the law and the prophets.” — The Golden Rule as expressed in Matthew 7:12 Hanlon’s Razor advises us to give others the benefit

The Paradox of Trust

“We have listened to the wisdom of an old Russian maxim, doveryai, no proveryai â€“ trust, but verify.”   — Ronald Reagan Trust is the foundation of society. Without a basic level of trust regarding the intentions and expected behavior of other human beings, our modern civilization would very quickly disintegrate into total chaos. If you

Avoiding 21st Century Twaddle

“Man, as a social animal who has the gift of language, is born to prattle and to pour out twaddle that does much damage when serious work is being attempted. Some people produce copious amounts of twaddle and others very

Availability-Misweighing Tendency

This mental tendency echoes the words of the song: “When I’m not near the girl I love, I love the girl I’m near.” Man’s imperfect, limited-capacity brain easily drifts into working with what’s easily available to it. — Charlie Munger,

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