Charlie Munger's Funniest Moment at Caltech 2008 【C:C.M Ep.245】

 

[Transcript]

AUDIENCE MEMBER: Good evening, Mr. Munger. You've spent a really interesting life looking for the truth in a number of situations and then have acted upon it. Whereas other folks in Wall Street and in Academia and other cultures seem to — even if they see the truth, they don't follow it. They find it easier or what have you to follow their fellows and doing this.

 

What is it that you've done that you could suggest, or that seems to be a model for these guys to kind of discarding the opinions of their fellows and pursuing something that would really be as you said, developing the knack for this?

 

CHARLIE MUNGER: I think to some extent, I was naturally disrespectful of the received wisdom. And I wanted to figure it out better. And I think to some extent that was an inherited disposition.

 

And I turned what many people would regard that horrible lemon into lemonade. But I don't know — I think you can make that kind of lemonade out of my kind of lemon. I don't know if you can do it on a marshmallows. Okay, next next question.

 

(Source: https://youtu.be/4ibabROYccs?si=AGQznfOPmt9tv3yg)

 

[YAPSS Takeaway]

If you get it, you get it.