Monday, August 28, 2017

RIF Notes #34

“One of the greatest ways to avoid trouble is to keep it simple. When you make it vastly complicated — and only a few high priests in each department can pretend to understand it — what you’re going to find all too often is that those high priests don’t really understand it at all…. The system often goes out of control.” -Charlie Munger

Friday, August 18, 2017

RIF Notes #34

“One of the greatest ways to avoid trouble is to keep it simple. When you make it vastly complicated — and only a few high priests in each department can pretend to understand it — what you’re going to find all too often is that those high priests don’t really understand it at all…. The system often goes out of control.” -Charlie Munger