Being wise Quote by Charlie Munger
“Of course you want to drive that out of yourself because you want to be wise, not foolish. You also have to allow for the self-serving bias of everybody else because most people are not going to remove it all that successfully, the human condition being what it is. If you don't allow for self-serving bias in your conduct, again you're a fool.”
About This Quote
Source Speech: Annual Shareholder Meeting, Berkshire Hathaway, 2015
Wisdom requires recognizing personal bias and accepting that others also have it; ignoring this leads to folly.
In simple terms: Know your bias, accept others' bias, avoid foolishness.
Key Takeaway
Check bias before decisions.
Themes
wisdom
human nature
decision making
Mood
reflective
cautious
Type
advice
philosophical
When to use this quote
- investment decisions
- leadership
- personal growth
- team management
Key Concepts
cognitive bias
self-awareness
humility
Questions to Reflect On
- How do you balance self‑critique with realistic expectations?
- When might trusting others' judgment be beneficial?
A Different Perspective
Self‑serving bias is hard to eliminate completely, so over‑correction can cause paralysis.
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