Joys of Compounding Chapter 8: Simplicity is the Ultimate Sophistication

“There are two questions you ask yourself as you look at the decision you’ll make. (A) Is it knowable? (B) Is it important? If it is not knowable — as you know, there are all kinds of things that are important but not knowable — we forget about those. And if it’s unimportant, whether it’s knowable or not, it won’t make any difference. — Warren Buffet

Warren Buffet’s advice on achieving goals

We don’t know for sure what makes us successful. We can’t pinpoint exactly what makes us happy.

But we know with certainty what destroys success or happiness.

This realization, as simple as it is, is fundamental: Negative knowledge (what not to do) is much more potent than positive knowledge (what to do). — Rolf Dobelli

We try to stick to businesses we believe we understand. That means they must be relatively simple and stable in character. — Warren Buffett

We have a passion for keeping things simple. If something is too hard, we move on to something else. — Charlie Munger



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