How could economics not be behavioral? If it isn't behavioral, what the hell is it?
Charlie MungerRead
If it is wisdom you're after, you're going to spend a lot of time on your ass reading.
Interpretation
What this quote means
Gaining wisdom requires dedication and time spent in learning.
Charlie Munger emphasizes that acquiring wisdom is not an easy or quick process; it necessitates a commitment to reading and reflecting. The metaphor of spending time 'on your ass' highlights the importance of patience and diligence in the pursuit of knowledge, implying that one must be willing to invest effort and time to truly understand and gain wisdom.
Themes
WisdomLearningReadingKnowledgeDedication
In practice
Example use cases
This quote can be used during a lecture on the importance of lifelong learning.
More from Charlie Munger
All quotes βThe world of derivatives is full of holes that very few people are really aware of. It's like hydrogen and oxygen sitting on the corner waiting for a little flame.
Charlie MungerRead
I believe in the discipline of mastering the best that other people have ever figured out. I don't believe in just sitting down and trying to dream it all up yourself. Nobody's that smart.
Charlie MungerRead
Economics is in many respects the queen of the soft sciences. It's expected to be better than the rest. It's my view that economics is better at the multi-disciplinary stuff than the rest of the soft science. And it's also my view that it's still lousy.
Charlie MungerRead
Look at this generation, with all of its electronic devices and multitasking. I will confidently predict less success than Warren, who just focused on reading.
Charlie MungerRead
Economics profession, they've been - they've been confident in various formulas, but economics is not physics. The same formula that works in one decade doesn't work in the next. Economics is a difficult subject.
Charlie MungerRead
Similar quotes
The greatest victory in life is to rise above the material things that we once valued most
Muhammad AliRead
A complainer is like a Death Eater because there's a suction of negative energy. You can catch a great attitude from great people.
Barbara CorcoranRead
I think the first virtue is to restrain the tongue; he approaches nearest to gods who knows how to be silent, even though he is in the right.
Cato The ElderRead
I go by the gut. I might not appear to have any talent but I've got plenty of gut instinct.
Haruki MurakamiRead
Banality is like boredom: bored people are boring people, people who think that things are banal are themselves banal. Interesting people can find something interesting in all things.
Idries ShahRead
Thus, though I have heard of successful military operations that were clumsy but swift, cleverness has never been seen associated with long delays.
Sun TzuRead