Acknowledge that you, yourself, are often the greatest impediment to your own success. It is sobering to realize that the acquisition of knowledge does not guarantee wisdom in its application — most investors know what they should do, but systematically fail to do it because of psychological forces they neither recognize nor control.

Howard Marks — The Most Important Thing: Uncommon Sense for the Thoughtful Investor

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The demand for certainty is a sign of weakness, and if we are to create a better world, we need a certain willingness to live with doubt, for it is not defeat when we cannot know everything — it is the beginning of wisdom.

Bertrand Russell — The Conquest of Happiness

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The company that needs a new machine tool, and hasn't bought it, is already paying for it. The same is true for the company that needs a reorganization, a new product, or a new manager — if you need it and don't do it, you're already paying for it.

Charlie Munger — Poor Charlie's Almanack

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