How could economics not be behavioral? If it isn't behavioral, what the hell is it?
Charlie MungerRead
In my whole life, I have known no wise people (over a broad subject matter area) who didn't read all the time - none, zero. You'd be amazed at how much Warren reads - at how much I read. My children laugh at me. They think I'm a book with a couple of legs sticking out.
Interpretation
What this quote means
Continuous reading fosters wisdom and knowledge.
Charlie Munger emphasizes the importance of reading in acquiring wisdom and knowledge. He notes that truly wise individuals are often voracious readers, highlighting how essential lifelong learning and intellectual curiosity are to personal growth and understanding.
Themes
ReadingWisdomKnowledgeEducationLifelong Learning
In practice
Example use cases
In a lecture on personal development, you might say, 'As Charlie Munger pointed out, continuous reading is crucial for wisdom.'
More from Charlie Munger
All quotes βThe world of derivatives is full of holes that very few people are really aware of. It's like hydrogen and oxygen sitting on the corner waiting for a little flame.
Charlie MungerRead
I believe in the discipline of mastering the best that other people have ever figured out. I don't believe in just sitting down and trying to dream it all up yourself. Nobody's that smart.
Charlie MungerRead
Economics is in many respects the queen of the soft sciences. It's expected to be better than the rest. It's my view that economics is better at the multi-disciplinary stuff than the rest of the soft science. And it's also my view that it's still lousy.
Charlie MungerRead
Look at this generation, with all of its electronic devices and multitasking. I will confidently predict less success than Warren, who just focused on reading.
Charlie MungerRead
Economics profession, they've been - they've been confident in various formulas, but economics is not physics. The same formula that works in one decade doesn't work in the next. Economics is a difficult subject.
Charlie MungerRead
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Are you a reader? If you aren't a reader, you might as well forget trying to be a writer.
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In one sense, the stories I read betrayed me. Too few gave me back my mirror image. Fewer still spoke to, or acknowledged, the existence of the problems I faced as a black foster child from a dysfunctional and badly broken home.
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My dad, who was a teacher, used to tell me that a teacher's goal should be for every one of their students to get an A. If that's your goal every day - to make every student or player learn - then it doesn't matter if you won last year or didn't win. When next year's team shows up, I try to help every player become as good as they can be.
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