The Value of Training (and being a Learning Machine)

A steel buyer is required to make buying decisions – often worth millions of dollars – on current market conditions and expectations of future market conditions.  How does anyone do that well in an environment of uncertainty and constant change? One way to get an advantage is to be a “Learning Machine”.

Here’s what Charlie Munger has to say about Warren Buffett: “Warren (Buffett) is one of the best learning machines on this earth. …If you stop learning in this world, the world rushes right by you.”