Berkshire Hathaway partner Charlie Munger once remarked about the success he and partner Warren Buffet enjoyed. He observed that “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 intelligent.”
Building on that, a recent post from Farnum Street suggests “We need not be a genius in every area, but we should understand the big ideas of most disciplines and try to avoid fooling ourselves…When you’re not an expert in a field, often the best approach is one that avoids stupidity. There are few better ways of avoiding stupidity than understanding how the world works.”
A great way to get started being “consistently not stupid” is mastering “Three Filters Needed to Think Through Problems.”
