name-people-extreme-efficient-market-theorywhich-bonkers-intellectually

I have a name for people who went to the extreme efficient market theory-which is "bonkers". It was an intellectually consistent theory that enabled them to do pretty mathematics. So I understand its seductiveness to people with large mathematical gifts. It just had a difficulty in that the fundamental assumption did not tie properly to reality.

Charlie Munger
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Charlie Munger's Popular Quotes

I don't have too much interest in teaching other people how to get rich. And that isn't because I fear the competition or anything like that - Warren…

- Charlie Munger

Knowing what you don't know is more useful than being brilliant.

- Charlie Munger

We don't have any miraculous way of avoiding taxes at Wesco and Berkshire.

- Charlie Munger

For years I have read the morning paper and harrumphed. There's a lot to harrumph about now.

- Charlie Munger

Opportunity comes to the prepared mind.

- Charlie Munger

It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intell…

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You don't have to be brilliant, only a little bit wiser than the other guys, on average, for a long, long, time.

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The big money is not in the buying and selling ... but in the waiting.

- Charlie Munger

Those who will not face improvements because they are changes, will face changes that are not improvements.

- Charlie Munger
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