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In his article “A Lesson on Elementary, Worldly Wisdom as it Relates to Investment Management & Business,” Charles Munger (1995) wrote about tools, techniques, and critical skills that great managers need to develop.

Consider Munger’s thoughts on the importance of mental models. Respond to the following:

  • Examine how Munger’s concept of mental models has changed your ideas of decision making in investment management and business.
  • Explain how this experience has affected your decision-making process.

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