But the late billionaire Charlie Munger didn't build an empire by grazing. The legendary vice chairman of Berkshire Hathaway understood that the universe doesn’t hand out gourmet opportunities on a silver platter every Tuesday. In a CNBC interview in 2023, at 99, Munger laid out a lesson that shaped not only his investing philosophy but his entire approach to life. He reached back to something his grandfather used to tell him - advice that stuck. "You're only going to get three or four of these invitations to the pie counter," Munger said in the interview. "And when you get your invitation, for God's sakes, don't take a small helping. " Don't Miss: It's a homespun metaphor, but financially, it's razor sharp. Munger's point wasn't that you should swing wildly at every opportunity. Markets don't constantly hand you mispriced, high-conviction bets. Businesses don't frequently trade at obvious discounts with durable advantages. And life doesn't offer unlimited moments where the odds meanin...