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The advantages of consistency and temperament

August 27, 2014 by  
Filed under Investor Behaviour

Regarding the source of the value of financial advice

“It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.”

         —Charles Munger, speaking of himself and Warren Buffett


On the primacy of behavior

“Temperament is more important than IQ. You need reasonable intelligence, but you absolutely have to have the right temperament. Otherwise, something will snap you.”

—Warren Buffett


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