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Munger has unreservedly shared the methods for young and poor people to invest.
To facilitate understanding, he also provided a very interesting example. A shareholder of Berkshire, who is a chess player, said that investing is really too difficult, much harder than playing chess. Munger replied, "It should be that playing international chess is more difficult. In investing, we are always looking for foolish competitors, picking soft persimmons to squeeze, while in chess competitions, you are always competing against experts, engaging in a battle of wits."
Find your own advantages and compete with your strengths against your opponent's weaknesses. The principle is simple.
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