Charlie Munger Quotes
Mimicking the herd invites regression to the mean.
Topics
Regression
Conformists, Conformity, Conformism
Imitation
Average
Behavioral Economics
Group Dynamics
Group Mentality, Herd Mentality, Mob Mentality
Groupthink
Mean
Mediocrity
Social Pressure
Mimicking
Collective Behavior
Conformity Pressure
Group Influence
Herd Behavior
Social Conformity
Conform
Citations
Munger, Charles T. Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger. Edited by Peter D. Kaufman, PCA Publications, 2005.
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Samuel Langhorne Clemens, 1835-1910
Charles Thomas Munger is an American billionaire investor, businessman, former real estate attorney, architectural designer, and philanthropist. He is vice chairman of Berkshire Hathaway, the conglomerate controlled by Warren Buffett; Buffett has described Munger as his closest partner and right hand man. Munger served as chairman of Wesco Financial Corporation from 1984 through 2011. He is also chairman of the Daily Journal Corporation, based in Los Angeles, California, and a director of Costco Wholesale Corporation.