Learn how to ignore the examples from others when they are wrong, because few skills are more worth having.
Charlie MungerIt would be easier to screw up American Express than Coke or Gillette, but it's an immensely strong business.
Charlie MungerEven bright people are going to have limited, really valuable insights in a very competitive world when they're fighting against other very bright, hardworking people. And it makes sense to load up on the very few good insights you have instead of pretending to know everything about everything at all times.
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