Dogs do not care what patterns are knitted into their sweaters. They may or may not appreciate the functional warmth provided by their sweaters but only their owners derive any benefit from details such as the color scheme, a Christmas
“We have listened to the wisdom of an old Russian maxim, doveryai, no proveryai – trust, but verify.” — Ronald Reagan Trust is the foundation of society. Without a basic level of trust regarding the intentions and expected behavior of other human beings, our modern civilization would very quickly disintegrate into total chaos. If you
“Life is divided into three periods: past, present and future. Of these, the present is short, the future is doubtful, the past is certain.” — Seneca Think back to your childhood days. Many people feel like time passed by very slowly
It is no accident that the rapid rise in living standards over the past century has coincided with tremendous technological progress throughout the economy. At a fundamental level, rising living standards require the economy to generate an ever-increasing supply of
In this series, we suggest worthwhile reading material on a variety of topics of general interest. Daily Journal Corporation Annual Meeting – February 15, 2017. Charlie Munger spoke for nearly two hours at the Daily Journal annual meeting in Los Angeles.