Munger's 9 Investment Maxims, worth deep contemplation by every brother:

1. Making big money relies not on trading, but on waiting.

2. There are three ways to go bankrupt: alcoholism, womanizing, and gambling.

3. If you cannot accept a 50% drawdown, you are destined to accept mediocre investment performance.

4. Buying great companies at a fair price is far better than buying mediocre companies at a cheap price.

5. Constantly remind yourself that the long-term returns from avoiding foolishness far exceed the returns from clever tricks.

6. What I want to know most is where I will die, and then resolutely avoid going there.

7. Being in cash requires immense courage. I did not achieve today's success by chasing those mediocre opportunities.

8. Maintain contrarian thinking and look at problems from a different perspective.

9. Getting rich is like rolling a snowball; the best strategy is to stand in a long snow path and keep rolling for a long time.