Activity Quote by Charlie Munger
“We have a higher percentage of the intelligentsia engaged in buying and selling pieces of paper and promoting trading activity than in any past era. A lot of what I see now reminds me of Sodomand Gomorrah. You get activity feeding on itself, envy and imitation. It has happened in the past that there came bad consequences.”
About This Quote
Source Speech: Annual Shareholder Meeting, Berkshire Hathaway, 2018
Modern markets are driven by speculation and imitation, echoing historic moral decay.
In simple terms: People trade like in ancient Sodom.
Beware herd behavior, seek substance.
Themes
Mood
Type
When to use this quote
- investment decisions
- policy making
- education
- media analysis
Key Concepts
Questions to Reflect On
- What signs of herd behavior do you see today?
- How can we encourage substance over hype?
Speculation can also fuel innovation.