Friday, June 12, 2009

Charlie Munger - October 2003

A classic Munger speech today.

"You would think it was the the Mad Hatter's Tea Party. And the false precision of these people is unbelievable. They make the worst economics professors look like gods."

"Well, that's the end. I'll take questions as long as people can endure me."

"People were taught that nobody could beat the market. Next the professor went to two sigmas, and three sigmas, and four sigmas, and when he finally got to six sigmas of luck, people were laughing so hard he stopped doing it."

Munger UCSB Speech


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