Judgment—especially demonstrated judgment, with high accountability and a clear track record—is critical. [78] We waste our time with short-term thinking and busywork. Warren Buffett spends a year deciding and a day acting. That act lasts decades. Just from being marginally better, like running a quarter mile a fraction of a second faster, some people get paid a lot more—orders of magnitude more. Leverage magnifies those differences even more. Being at the extreme in your art is very important in the age of leverage. [2]
