Charlie Sums It Up
"How do some people get wiser than
other people? Pardy it is inborn
temperament. Some people do
not have a good temperament for
investing. Theyre too fretfirl; they
worry too much. But if you've got a
good temperament' which basically
means being very patient, yet
combine that with a vast aggression
when you know enough to do
something, then you just gradually
learn the game, pardy by doing'
partly by studying. Obviously, the
more hard lessons you can learn
vicariously, instead of from your own
terrible experiences, the better off
you will be.
I dont know anyone
who did it
with great rapidity.
'Warren Buffett has become one hell
ofa lot better
investor since
the day
I met him, and so have I. Ifwe
had
been frozen at any given stage, with
the knowledge hand we had, the
record would have been much worse
than it is. So the game is to keep
learning, and I
dont trhink people are
going to keep learning who dont like
the learning process."