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Munger: "Do the best you can playing the hand you've got"

Buffett & Munger2015-05-02video1:00Open original ↗

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SpeakersQuestioner1Warren1
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QuestionerWhat advice would you give to someone who's trying to network with influential people but doesn't have access to the alumni network of a top business school?
WarrenI think you should do the best you can. Playing the hand you've got. Charlie's very Old Testament on this. Didn't get much past Genesis. I never had any business culture. Why should you have any? And actually, I would say the business school training, particularly in investments, was a handicap about 20 years ago when they were preaching efficient market theory because essentially they told you it didn't do any good to try and figure out what a company was worth because the market had a price perfectly already. Imagine paying, you know, 30 or 40,000 dollars a year to hear that.