The Curious Mind of Charlie Munger

Munger: A few major opportunities clearly recognizable as such will usually come to one who continuously searches and waits with a curious mind that loves diagnosis involving multiple variables. So prudence, he's meaning for gallery, sitting on tons of cash, keeping your operating expenses low and then he preaches over and over patience. And then all that is required is a willingness to bet heavily when the odds are extremely favorable using resources available in the past.