Being rational is a moral Imperative. You should never be stupider than you need to be.
Charlie MungerI think the main figure that matters to all of us, including people in the media, is: How does GDP per capita grow? And those figures have been very good. There is a huge flux both up and down, so it isn't like we're all static in status. What's important is that pie grows.
Charlie MungerIn my whole life, I have known no wise people who didn't read all the time - none ... ZERO.
Charlie MungerWell the open-outcry auction is just made to turn the brain into mush: you've got social proof, the other guy is bidding, you get reciprocation tendency, you get deprival super-reaction syndrome, the thing is going away... I mean it just absolutely is designed to manipulate people into idiotic behavior.
Charlie Munger