Advisors Quote by Charlie Munger
“You can hire your advisor and then just apply a windage factor, like I used to do when I was a rifle shooter. I'd just adjust for so many miles an hour wind. Or you can learn the basic elements of your advisor's trade. You don't have to learn very much, by the way, because if you learn just a little then you can make him explain why he's right.”
About This Quote
Advice suggests either hiring an advisor and adjusting for unknowns, or learning enough to question the advisor’s reasoning.
In simple terms: Hire an advisor or learn enough to challenge them.
Key Takeaway
Gain basic knowledge to evaluate advice.
Themes
advice
learning
critical thinking
decision making
expertise
Mood
pragmatic
analytical
Type
instructional
strategic
When to use this quote
- investment decisions
- project planning
- ment negotiations
- personal finance
- team leadership
Key Concepts
cognitive bias
risk management
skill acquisition
Questions to Reflect On
- How much should you trust an advisor versus your own analysis?
- What minimal knowledge is needed to effectively question expertise?
A Different Perspective
Overreliance on advisors can reduce personal judgment.
![“[What if my advisor talks only about returns, not risk?] ... It's his job to take risk into account by telling you the range of possible outcomes you face. If he won't, go get a new planner, someone who will get real.” quote by William Forsyth Sharpe](https://sms4smile.com/quotes/img-quotes/7c9/william-forsyth-sharpe-83220_accounts_what-if-my-advisor-talks-only-about-retu_322124.jpg)
![“They [Mc Donalds] take people and give them a first job, which enables them to get a second job. They do a very good job of educating troubled young people to be good citizens and they're probably more successful than charter schools.” quote by Charlie Munger](https://sms4smile.com/quotes/img-quotes/a55/charlie-munger-458_be-good_they-mc-donalds-take-people-and-give-the_41809.jpg)
![“It is way less certain to be a wonderful business in the future. The threat is alternative mediums of information. Every newspaper is scrambling to parlay their existing advantage into dominance on the Internet. But it is way less sure [that this will occur] than the certainty 20 years ago that…” quote by Charlie Munger](https://sms4smile.com/quotes/img-quotes/8d0/charlie-munger-458_advantage_it-is-way-less-certain-to-be-a-wonderful_59627.jpg)
