Tuesday, March 01, 2005

Know when to fold 'em.

Some insight into Charlie Munger, the less heralded partner in Berkshire Hathaway.

"He regards the lessons of poker as a great help in daily life and business, and notes that an important rule from poker is to fold when the odds are against you and to make big bets when you have a strong edge. Such times don’t come often."


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