Warren Buffett and Charli Munger in their 2016 Annual Meeting said:

In Amderica, you dont have to be smart to earn a decent return in business.

You just need to be aversive from stundard supidities!

Thank God, America's business enviornemnt has been like this!

Another aphorism that made BRK a success:

Patience + Opportunism (临机应变主义) + Emotional Control

Some people do very stupid thing (get rich and quickly lose them): They:

risk something that is very important to them

for something  that is not very important to them!

Asessing a deal: 

1. Business Quality + Human Quality (of the Management)

2. You lose a deal trying to make everything perfect.  Being decent is the key.