--- title: "Meaning & Key Takeaway of: I think the reason why we got into such…" description: "\"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 tackl..." image: "https://sms4smile.com/quotes/i/3f1/charlie-munger-458_fishes_i-think-the-reason-why-we-got-into-such_2473708.jpg" --- # I think the reason why we got into such idiocy in… ![“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…” quote by Charlie Munger](https://sms4smile.com/quotes/i/3f1/charlie-munger-458_fishes_i-think-the-reason-why-we-got-into-such_2473708.jpg) [Download](https://sms4smile.com/quotes/i/3f1/charlie-munger-458_fishes_i-think-the-reason-why-we-got-into-such_2473708.jpg) [Open image](https://sms4smile.com/quotes/i/3f1/charlie-munger-458_fishes_i-think-the-reason-why-we-got-into-such_2473708.jpg) > “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.” [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. 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. ★ ★ ★ ★ ★ No ratings yet [Fishing](https://sms4smile.com/quotes/about/fishing/) [Idiocy](https://sms4smile.com/quotes/about/idiocy/) [Investing](https://sms4smile.com/quotes/about/investing/) [Investment](https://sms4smile.com/quotes/about/investment/) [Investment management](https://sms4smile.com/quotes/about/investment-management/) [Management](https://sms4smile.com/quotes/about/management/) [Reason](https://sms4smile.com/quotes/about/reason/) [Salesman](https://sms4smile.com/quotes/about/salesman/) [Stories](https://sms4smile.com/quotes/about/stories/) [Thinking](https://sms4smile.com/quotes/about/thinking/) ## Related quotes > [A Lesson on Elementary, Worldly Wisdom As It Relates To Investment Management & Business](https://sms4smile.com/quotes/charlie-munger/a-lesson-on-elementary-worldly-wisdom-as-it-relates-to-investment/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [There's more honor in investment management than in investment banking.](https://sms4smile.com/quotes/charlie-munger/there-s-more-honor-in-investment-management-than-in-investment-banking/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > ['Crowd folly', the tendency of humans, under some circumstances, to resemble lemmings, explains much foolish thinking of brilliant men and much foolish behavior -…](https://sms4smile.com/quotes/charlie-munger/crowd-folly-the-tendency-of-humans-under-some-circumstances-to/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [In investment management today, everybody wants not only to win, but to have a yearly outcome path that never diverges very much from a…](https://sms4smile.com/quotes/charlie-munger/in-investment-management-today-everybody-wants-not-only-to-win-but-to/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [The essence of investment management is the management of risks, not the management of returns.](https://sms4smile.com/quotes/benjamin-graham/the-essence-of-investment-management-is-the-management-of-risks-not/) [Benjamin Graham](https://sms4smile.com/quotes/author/benjamin-graham/) > [People who watch their weight, golf scores, and fuel bills seem to shun quantitative evaluation of their investment management skills although it involves the…](https://sms4smile.com/quotes/warren-buffett/people-who-watch-their-weight-golf-scores-and-fuel-bills-seem-to-shun/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [ The illusion of skill is not only an individual aberration; it is deeply ingrained in the culture of the \[investment management\] industry. ](https://sms4smile.com/quotes/daniel-kahneman/the-illusion-of-skill-is-not-only-an-individual-aberration-it-is/) [Daniel Kahneman](https://sms4smile.com/quotes/author/daniel-kahneman/) > [The most treasured asset in investment management is a steady hand at the tiller.](https://sms4smile.com/quotes/robert-d-arnott/the-most-treasured-asset-in-investment-management-is-a-steady-hand-at/) [Robert D. 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