![]() You can improve your own life by eliminating your miscognitions.ĪNDY SERWER: Let me shift gears a little bit, Charlie, and ask you about the US economy. You know, I think the standard human condition has a lot of miscognition.ĪNDY SERWER: And there are ways to make hay of that or-ĬHARLIE MUNGER: Yes. And when they say, old Joe has common sense, what they mean is he has uncommon sense.ĪNDY SERWER: I guess it's a bit of a misnomer then.ĪNDY SERWER: So, yeah, why is it that people can't think clearly about investing or decisions in their lives?ĬHARLIE MUNGER: Well, they don't think very well about sex or gambling either. Because the standard human condition is ignorance and stupidity. And you were talking a lot about-ĬHARLIE MUNGER: All of it is common sense.ĬHARLIE MUNGER: But of course, when people use the word "common sense," what they mean is uncommon sense. I mean, and the stuff that they hear- some of it's new, some of it's old, and a lot of it is common sense. ![]() They think they're on the right side.ĪNDY SERWER: And, you know, they come there to hear you guys talk all day. And it's not just that they made a lot of money and have nice careers. And I have to ask you what your favorite moments of that were.ĬHARLIE MUNGER: What I like is that both the shareholders and employees of Berkshire are so extremely enthusiastic. Charlie, nice to see you.ĪNDY SERWER: So you just had the annual meeting. Welcome to "Influencers." And welcome to our guest, Vice Chairman of Berkshire Hathaway, Charlie Munger. He's here to talk about how to make investment decisions and life choices that help secure prosperity and longevity. ![]() Munger ran a firm in the 1960s and '70s that scored returns of over 24% per year. He's also an investing legend in his own right. As Berkshire's Vice Chairman, the 95-year-old Munger is Warren Buffett's right-hand man. For over 40 years, Charlie Munger has been the latter for Berkshire Hathaway. ANDY SERWER: A business empire needs decisive leadership, but also a steady hand. ![]()
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