Charlie Munger quotes
“Incentives drive motivation.”
— Charlie Munger
- Align incentives to outcomes, not effort
“When you mix raisins with turds, you still have turds.”
— Charlie Munger
- Leverage is always risky. Be very careful of large amounts of leverage especially when the chances of success only depends on the leverage
- Leverage (debt) and envy is a lethal combination
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This is a transplant — someone else's idea, poem, or words that resonated with me.