I cannot lie. I almost hopped on the bus 18km into my run today with a mere 2km to go. Did I go out to fast? Not enough gas in the tank? As Munger would have put my margin for safety was too low.
“Keep your margin of safety high and you’ll have greater room for mistakes. Price is what you pay and value is what you get”
Why does emotion always get in the way? Whether investing in stocks or running a marathon the temptation to power forward at the expense of that margin of safety is always so tempting…and normally wins. Note to self “Remember to hold back for the deal and the finish line.
Until tomorrow, keep running toward better!
I listened to 37% of Charlie Munger by Tren Griffin
Today’s route can be found here: