I think what is left unsaid is core principles or ideology. In Munger’s case, it looks like one of his core principles is the rational investor, or the rational person. This means each person makes decisions to maximize their own utility. Knowing that, and believing that allows you to apply that core principle in different models again and again.

Would be interesting to see what core philosophy or core principles Munger uses over and over again in his 80–90 models to analyze businesses.