Sketch notes follow on video posted by marketfolly.
Buffett said: even if you’re a slightly above average investor who spends less than they earn, over a lifetime you cannot help but become rich if you are patient.
Munger said that if an investor did just 3 things, their end results would be vastly better that the rest:
1. carefully look at what the other great investors have done – don’t be afraid to copy
2. look at the cannibals – i.e companies that are buying back their own stock
3. carefully study spinoffs