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Importance of filtering out the noise according to Warren Buffett

People get frustrated because they start to pitch something to us and when they get halfway through the first sentence, we say we’re not interested. We don’t waste a lot of time on bad ideas.

When humans compete against computers in chess, how can human compete? The human eliminates 99% of possibilities without even thinking about it – they get right down to few possibilities that have any chance of success. They get rid of the nonsense.

When people call you with bad idea, don’t be polite and waste 10 minutes.

Munger: Part of [having uncommon sense] is being able to tune out folly, as opposed to recognizing wisdom. If you bat away many things, you don’t clutter yourself.

Source: Berkshire Hathaway Annual Meeting
Time: 2004

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