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3 habits that are important for making great business deals

Posted by Arthur Peter on


3 habits that are important for making great business deals

Berkshire Hathaway's Charlie Munger has amassed quite a lot of advice over the years. A similarity he also shares with fellow business partner, Warren Buffett.
Here are three tendencies that Munger tries to avoid while making business and career decisions.
1. BIAS FROM ENVY AND JEALOUSY ... as Munger has heard Buffett say on multiple occasions, "It's not greed that drives the world, but envy."
2. ACCEPTING DELUSIONAL BELIEFS ... while everyone does it to some extent, Munger says "It's a common psychological misjudgment that causes terrible problems."
3. MAKING CLOSED MINDED JUDGMENTS ABOUT PEOPLE .. Munger argues that instead of sticking to what is familiar or what he calls "Liking distortion" - he challenges professionals to keep an open mind to someone they dislike.

The bottom line .. Munger recommends to avoid these 3 tendencies in business and career decisions.


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