Quiz on Lesson ” Charlie Munger: Mental Models For The Rest Of Your Life (Part 3) “

What is the first mental model discussed in the video?

A. Circle of Competence

B. Simplicity

C. Independent Thinking

What is the Fat-Pitch-Strategy, and why does Wall Street ignore it?

A. It is a strategy that says an investor should be active all the time to be successful. Wall Street ignores it because they believe that being passive is the key to success.

B. It is a strategy that says an investor should only swing when they feel very confident. Wall Street ignores it because it goes against their belief that being active and constantly having an opinion on the market is the key to success.

C. It is a strategy that says an investor should always buy stocks when the market is down. Wall Street ignores it because they believe that buying stocks at any time is a good idea.

What is the Circle of Competence, and how does it help investors make better decisions?

A. The Circle of Competence is a mental model that encourages investors to limit their investment choices to areas where they have the least expertise. By doing this, they increase their chances of making more accurate predictions about future cash flows.

B. The Circle of Competence is a mental model that encourages investors to limit their investment choices to areas where they have the most expertise. By doing this, they increase their chances of making more accurate predictions about future cash flows.

C. The Circle of Competence is a mental model that encourages investors to invest in a wide variety of industries. By doing this, they increase their chances of making more accurate predictions about future cash flows.

Quiz on Lesson ” Charlie Munger: Mental Models For The Rest Of Your Life (Part 3) “

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