Luck

We undermine the virtue of luck. Once we get famous or successful, we forget how much luck played its role. Our survivorship bias takes over reality. It was luck that you were in the right place to seize an opportunity. Luck is what happens when preparation meets opportunity. ― Seneca

Value Investing

While reading Charlie Munger: The Complete Investor, I got to know about Benjamin Graham. He is widely known as the “father of value investing.” The crux of value investing (excerpts from the book) : Determining the appropriate intrinsic value of a business. Determining the appropriate margin of safety. Determining the scope of an investor’s circle …

On Management

These are some key insights Charlie Munger looks in an organization to acquire or invest. (excerpts from the book, Charlie Munger: The Complete Investor) : Capital allocation Compensation systems that create alignment with shareholders. Moat-widening skills. Management in place with high integrity. Brilliant and exceptional managers. Remember that reputation and integrity are your most valuable …