Charlie Munger：Munger's 1994 USC Talk, Additional Excerpt 26

So you have to figure out what your own aptitudes are. If you play games where other people have the aptitudes and you don't, you're going to lose. And that's as close to certain as any prediction that you can make. You have to figure out where you've got an edge. And you've got to play within your own circle of competence.

Source： https://web.archive.org/web/20140625062802/http://ycombinator.com/munger.html
Locator：Archived transcript, additional excerpt 26 · Verified：2026-10-19 · Verification：Short excerpt

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