For those who’ve been an investor lengthy sufficient, you’ve most likely heard somebody say, “Be rational.”
It sounds easy sufficient. Simply don’t panic, don’t be grasping, don’t observe the herd.
However as Charlie Munger confirmed us all through his life, rationality isn’t only a cool head throughout market crashes. It’s a a lot deeper self-discipline. It’s a lifelong dedication to pondering clearly, even when the world tempts you in any other case.
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