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The Power of a Brand
I feel like the world is a lot more complex than we'll ever understand. I don't think you should go out, do what Coco Chanel did and eventually just make up an entire history. The power of a brand is almost like this mass psychosis, right? You have literally people waiting two hours in line to give them money. It's very difficult to predict what's going to happen or how can trace cause and effect. And so it's not that I'm looking for a formula. Charlie Munger reads so many biographies and ideas that he thinks might be helpful here.