Friday, May 25, 2012

Charlie Munger quote (complexity and overconfidence)

Mentioned by Peter Bevelin in my 2009 interview with him (and it reminds me of THIS Warren Buffett quote from this year's Berkshire Meeting):

“We don’t like complexity and we distrust other systems and think it many times leads to false confidence. The harder you work, the more confidence you get. But you may be working hard on something that is false. We’re so afraid of that process so we don’t do it.” –Charlie Munger