Fishes Quote by Charlie Munger
“I think the reason why we got into such idiocy in investment management is best illustrated by a story that I tell about the guy who sold fishing tackle. I asked him, "My God, they're purple and green. Do fish really take these lures?" And he said, "Mister, I don't sell to fish." Investment managers are in the position of that fishing tackle salesman.”
About This Quote
Source Interview: CNBC, 2020
Investment managers often sell ideas that don’t suit the market, like a fisherman selling lures to fish.
In simple terms: Managers sell unsuitable products.
Key Takeaway
Align offerings with actual client needs.
Themes
investment
misalignment
marketing
Mood
analytical
pragmatic
Type
advice
philosophical
When to use this quote
- portfolio construction
- product development
- client meetings
Key Concepts
behavioral finance
client focus
Questions to Reflect On
- How can you better understand client needs?
- When is it okay to challenge client assumptions?
A Different Perspective
Clients may resist unconventional ideas.
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