Career · Modern investor letters
Charlie Munger:Munger's 1994 USC Talk, Additional Excerpt 31
Charlie Munger《A Lesson on Elementary, Worldly Wisdom As It Relates To Investment Management & Business》· USC Business School, 1994 · Leadership · History · Human nature
And the one thing that all those winning betters in the whole history of people who've beaten the pari-mutuel system have is quite simple. They bet very seldom.
Source:
https://web.archive.org/web/20140625062802/http://ycombinator.com/munger.html
Locator:Archived transcript, additional excerpt 31 · Verified:2026-10-19 · Verification:Short excerpt
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