Charlie Munger: 'He wants you to advise him as to how he can become less like a lemming'

Warren Buffett and Charlie Munger speaking at the 2008 Berkshire Hathaway annual meeting.

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[se]

Lemming: person who unthinkingly joins a mass movement, especially a headlong rush to destruction.

[bikashshrestha]

Happy birthday legend Charlie munger 🎂 . Respect all the knowledge & experience you've shared.

[alwells]

I would like to poiint out that lemmings do not actually follow each other off of cliffs. That's a piece of propganda that was used to sell a film a long time ago (you can learn about it if you search for "lemmings do or do not follow each other off of cliffs"). It is true that sometimes herd animals will get spooked and some of them will run over cliffs. But if you don't follow the herd, you're very likely to get eaten more times than you are likely to run off a cliff as cliffs are rare around herd animals anyways. Therefore, neither example is analogous to investing or following along with the crowd as so many people do about so many things in life without even questioning the ideals they assimilate as true.

[koreenalbertspeer]

comment for indicating I have watched this video.