A Quote by Charlie Munger

If you have competence, you know the edge. It wouldnt be a competence if you didnt know where the boundaries lie. Asking whether youve passed the boundary is a question that almost answers itself.
If you have competence, you pretty much know its boundaries already. To ask the question (of whether you are past the boundary) is to answer it.
Competence is a narrow ideal. Competence makes the trains run on time but doesn't know where they're going.
Competence is a big word. It is important. I almost want to nuance it with the idea of giftedness because sometimes you can teach a lot of skills on exposition but a person may not have the competence or the giftedness to do it. Therefore, it is very important to have that.
A 'competence' that has no defined borders cannot be called a true competence.
The older I get the more I admire and crave competence, just simple competence, in any field from adultery to zoology.
Building a business and becoming a billionaire is it's not championship. It's the competence; the competence in your sector with other companies not looking to have some kind of records in this issue.
Competence goes beyond words. It's the leader's ability to say it, plan it, and do it in such a way that others know that you know how - and know that they want to follow you.
Wealth brings noble opportunities, and competence is a proper object of pursuit; but wealth, and even competence, may be bought at too high a price. Wealth itself has no moral attribute. It is not money, but the love of money, which is the root of all evil. It is the relation between wealth and the mind and the character of its possessor which is the essential thing.
Many men want wealth,--not a competence alone, but a live-story competence. Everything subserves this; and religion they would like as a sort of lightning-rod to their houses, to ward off by and by the bolts of Divine wrath.
Competence in heterosexuality, or at least the appearance or pretense of such competence, is as much a public affair as a privateone. Thus, going steady is a high school diploma in heterosexuality; engagement a BA; marriage an MA; and children a Ph.D.
Good teaching is forever being on the cutting edge of a child's competence.
Spiritually evolved people, by virtue of their discipline, mastery and love, are people of extraordinary competence, and in their competence they are called on to serve the world, and in their love they answer the call.
A genuine approach to budget cutting - knowing exactly what you're cutting and why, and with what real-life consequences - is beyond my competence, and probably beyond the competence of any politician in America.
Told that the passing grade is a B or competence and that we will help you to get there, students do competent work. The lowest passing grade in the real world is competence. Why do schools accept so much less?
Trust has two dimensions: competence and integrity. We will forgive mistakes of competence. Mistakes of integrity are harder to overcome.
Because I teach and write about depression and bipolar illness, I am often asked what is the most important factor in treating bipolar disorder. My answer is competence. Empathy is important, but competence is essential.
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