Book notes: A dozen things learned from Charlie Munger about making rational decisions. Insights from Tren Griffin’s Charlie Munger: The Complete Investor.  (25iq)


Quote of the Day

"Always have a willingness to say no. You don’t have to have an opinion about everything or a position in everything."

(Ben Carlson)

Chart of the Day

Since S&P 500 inception in 1957:

48 drawdowns from all-time highs of 5%

17 of 48 became 10%

9 of 48 became 20%+