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Ignoring the Obvious


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I thought the core of this story applied to investing as well.


Albert Speer did very bad things. Although you’ve probably never heard of Speer, at one time he was Hitler’s chief architect and second most powerful man in the Reich.


But that’s not why he’s interesting.


Speer is one of the few Nazi elite not to be hanged after the Nuremberg trials. In fact, Speer was outspoken about Hitler’s regime and willing to accept responsibility for his role. In the words of Margaret Heffernan, “The hard part for Speer was seeing what it was that he took responsibility for.”


Speer’s biographer, Gitta Sereny, said “Speer didn’t see anything he didn’t want to see. I think he would have liked to have that capacity, but he just didn’t. Speer was in fact a highly talented man, highly intelligent, but studied obliviousness was his defense. And the defence was there because he somehow knew there was something wrong.”


How could Speer be so blind?


Continue Reading @ Farnam Street


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