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A Wealth of Common Sense: Why Simplicity Trumps Complexity in Any Investment Plan by Ben Carlson

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Negative Knowledge and the Traits Required to Be a Successful Investor

If you can get good at destroying your own wrong ideas, that is a great gift.

—Charlie Munger

Confucius once said, “Real knowledge is to know the extent of one's ignorance.” While most investing books focus exclusively on the steps you need to take to get rich in a hurry, I'm going to start off by going the other way with some negative knowledge. Negative knowledge is the process of first looking at what does not work to eventually come to the realization of what does. This process of elimination may seem like a minor distinction and a backwards way of looking at the world, ...

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