Some key concepts and important lessons explained in the book include –

•Importance of Savings
•Always Keeping Sufficient Cash for Golden Opportunities
•Margin of Safety
•Investing only within Circle of Competence
•Never Follow the Crowd
•Avoid Human Emotions of Greed and Fear and Invest based on Rational Thinking
•Patience is the Key
•Always Invest in Companies having good Economic Moat, high level of Corporate Governance, Strong Financial Numbers, etc
•Never Invest in Fraudulent Companies
Difference between Price and Value in case of Investing
•Risk Management
•various other important lessons…

The book also contains few important lessons provided by Warren Buffett & Charlie Munger during Berkshire Hathaway's Annual Shareholders Meeting.

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