Practical Thought About Charlie Munger's "Practical Thought About Practical Thought?"

Today's reading for me is my role model, Charlie Munger's talk to a group that has a policy of not publicizing its programs. Below are the wonderful quotes from Charlie:

1. Where elementary ideas will serve, your problem solving must not be limited, as academia and many business bureaucracies are limited, by extreme balkanization into disciplines and subdisciplines, with strong taboos against any venture outside assigned territory.
2. It is not usually the conscious malfeasance of your narrow professional adviser that does you in. Instead, your troubles come from his subconscious bias.

3. 5 helpful notions

• It is usually best to simplify problems by deciding big "no-brainer" questions first
• Without numerical fluency, in the part of life most us inhabit, you are like a one-legged man in an ass-kicking contest. 
• Invert, always invert
• The best and most practical wisdom is elementary academic wisdom. But you must think in a multidisciplinary manner. 
• Really big effects, lollapalooza effects, will often come only from large combinations of factors.

4. The best way to avoid envy, recognized by Aristotle, is to plainly deserve the success we get.
5. The standard deprival super-reaction syndrome makes "take-aways" so hard to get in any type of negotiation and helps make most gamblers so irrational.