Interested in Charlie’s Investing Principles checklist? go here
If you want to check out another great summary of his book see here. Farnham Street (FS) is a great source for knowledge, check it out. You will not regret it
Also if you are interested in Charlie’s top 20 book recommendations, have a look at this blog from FS
Quickly eliminate the big universe of what not to do; follow up with a fluent, multidisciplinary attack on what remains; then act decisively when, and only when, the right circumstances appear.
I’m no genius. I’m smart in spots, and I stay around those spots. If Charlie knows anything, he knows his spots: his carefully identified circles of competence. To stay within these circles, he first applies a basic, overall screen, designed to limit his investment field to only “simple, understandable candidates.” As he says, “We have three baskets for investing: yes, no, and too tough to understand.”
The habit of committing far more time to learning and thinking than to doing is no accident. It is the blend of discipline and patience exhibited by true masters of a craft.
If you play games where other people have the aptitudes and you don’t, you’re going to lose.
Human beings who work hard at it—who look and sift the world for a mispriced bet—can occasionally find one.
If you want to be a good thinker, you must develop a mind that can jump the jurisdictional boundaries.
Without numerical fluency, you are like a one-legged man in an ass-kicking contest.
The acquisition of wisdom is a moral duty.
If you turn problems around into reverse, you often think better. As the great algebraist Jacobi said: “Invert, always invert.”
Ben Franklin. He said, “If you would persuade, appeal to interest, not to reason.”
Avoid working directly under somebody you don’t admire and don’t want to be like.
In your own life, what you want to maximize is a seamless web of deserved trust.
Widespread incentive-caused bias requires that one should often distrust or take with a grain of salt the advice of one’s professional adviser, even if he is an engineer. The general antidote here is: Especially fear professional advice when it is especially good for the adviser.
A wise man engaged in learning some important skill will not stop until he is really fluent in it.
I feel that I’m not entitled to have an opinion unless I can state the arguments against my position better than the people who are in opposition.
Darwin trained himself to intensively consider any evidence tending to disconfirm any hypothesis of his, more so if he thought his hypothesis was a particularly good one.
In the highest reaches of business, it is not uncommon to find leaders who display followership akin to that of teenagers.