I think in Buffett’s case this is not an accident; I venture to claim that his wealth is a result of fortune combining with an unusual doze of rationality (even if he calls it ‘genes’). My strongest piece of evidence is that his business partner for the past 40 years, Charlie Munger, is one of the very early outspoken adopters of the good parts of modern psychology, such as ideas of Cialdini and Tversky/Kahneman and decision-making under uncertainty.
Oh wow, I think I have a new role model. Any chance we can get these two (Buffet and Munger) to open a rationality dojo? (Who knows, they might be impressed, given that most people ask them for wealth advice instead...)
I think in Buffett’s case this is not an accident; I venture to claim that his wealth is a result of fortune combining with an unusual doze of rationality (even if he calls it ‘genes’). My strongest piece of evidence is that his business partner for the past 40 years, Charlie Munger, is one of the very early outspoken adopters of the good parts of modern psychology, such as ideas of Cialdini and Tversky/Kahneman and decision-making under uncertainty.
http://vinvesting.com/docs/munger/human_misjudgement.html
Oh wow, I think I have a new role model. Any chance we can get these two (Buffet and Munger) to open a rationality dojo? (Who knows, they might be impressed, given that most people ask them for wealth advice instead...)