‘If People Weren’t So Often Wrong, We Wouldn’t Be So Rich’
Charlie Munger, a long-standing associate of Warren Buffett, once shed light on his investment strategy, highlighting the significance of learning from errors and managing anticipations.
What Happened: At a Berkshire Hathaway yearly shareholder gathering in 2015, Munger remarked, “Warren, if people weren’t so often wrong, we wouldn’t be so rich.” This comment highlights the prospects that emerge from others’ market misunderstandings and blunders.
Munger and Buffett accumulated their fortune by capitalizing on market inefficiencies, thinking autonomously, and evading common investment traps. Munger’s investment methodology wasn’t solely about making astute decisions, but also about avoiding errors that could…
