I’ve known Xavier Becerra @becerraforgovernor for almost 25 years. He is smart, committed and has the experience and outlook to be an outstanding and effective Governor! I hope the folks in California will take a look!
The investors who blow up aren't dumb.
They're certain.
Munger spent 60 years building rationality like a muscle, slowly, unevenly, imperfectly. Because in markets, a fury of confidence is worth less than a quiet, honest doubt.
Certainty is expensive. Rationality compounds.