Charlie Munger：Munger's 1994 USC Talk, Additional Excerpt 41

And the Berkshire system is not "bonkers". It's so damned elementary that even bright people are going to have limited, really valuable insights in a very competitive world when they're fighting against other very bright, hardworking people.

Source： https://web.archive.org/web/20140625062802/http://ycombinator.com/munger.html
Locator：Archived transcript, additional excerpt 41 · Verified：2026-10-19 · Verification：Short excerpt

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