Chris Davis [of the Davisfunds] has a temple of shame. He…
![“Chris Davis [of the Davisfunds] has a temple of shame. He celebrates the things they did that lost them a lot of money. What is also needed is a temple of shame squared for things you didn't do that would have made you rich. Forgetting your mistakes is a terrible error if you are trying to improve…” quote by Charlie Munger](https://sms4smile.com/q/i/5af/charlie-munger-458_categories_chris-davis-of-the-davisfunds-has-a-temp_1992003.jpg)
“Chris Davis [of the Davisfunds] has a temple of shame. He celebrates the things they did that lost them a lot of money. What is also needed is a temple of shame squared for things you didn't do that would have made you rich. Forgetting your mistakes is a terrible error if you are trying to improve your cognition. Reality doesn't remind you. Why not celebrate stupidities in both categories?”
About This Quote
This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.
Celebrating both failures and missed opportunities highlights blind spots and drives better decision‑making.
In simple terms: Recognize and learn from both mistakes and missed chances.
Key Takeaway
Acknowledge all errors to improve thinking.
Themes
learning
accountability
decision making
humility
growth
Mood
reflective
analytical
critical
Type
advice
philosophical
When to use this quote
- investment analysis
- personal finance
- career planning
- entrepreneurship
Key Concepts
cognitive bias
regret theory
learning loops
Questions to Reflect On
- How can you systematically track missed opportunities?
- What rituals can normalize learning from failures?
A Different Perspective
Focusing only on successes can reinforce overconfidence.