Jump to content

What are Munger's Idiot list criteria?


Guest longinvestor
 Share

Recommended Posts

Guest longinvestor

To not become one or to get off that list, a list would be in order. I'd like to compile one as folks chime in. Please keep it brief. Here we go,

 

Belief in EMH.

Not buying enough.

 

 

 

 

Link to comment
Share on other sites

Gives me a chance to review my random meeting notes.

 

From BRK 2004:

-Not thinking about the consequences of the consequences.

-Not remembering the trite stuff:  Don't try to outrun a train; don't use cocaine; don't engage in behavior that will get you HIV.

-Not staying away from evil and irrational people, particularly if they're an attractive member of the opposite sex.

 

From Wesco 2004:

-We don't think about beta.

 

From Wesco 2005:

-To say "I want more, and therefore I have to get more" is how you get into trouble.

-Not figuring out how best to deal with the hand that life has dealt you, and trying to get a higher return than the next fellow - it's an insane way to live.  Better to lower your expenses and your expectations.

 

From Wesco 2007:

-Not avoiding certain streaks of nuttiness, especially envy, jealousy, self-pity (e.g., Mozart).

-Nothing more nutty than to feel entitled, that life is unfair.  Well, if your child dies of cancer, that is NOT unfair.

-The excessive self-regard tendency:  a lot of it is self-conscious, and all humans have it (e.g., Wolfowitz making stupid mistakes).

-Not having the right wife (Ben Franklin's worst regret/failure).

 

From "A Morning with Charlie" 2011:

-Envy is the worst of all the sins.  There's always someone better at something than you are.  Envy is not only a sin:  it's stupid because there's no fun in it.

 

A reminder from the recent WisdomTree Investments thread:

-Comparing apples to elephants in projecting long-term trends.  Jeremy Siegel going all the way back to 1802 to project future stock returns - he's demented, a nut case.

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share

×
×
  • Create New...