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- Charlie Munger On Forecasts (And Vomit)
Charlie Munger On Forecasts (And Vomit)
Do your own homework. It’s a good rule for life and a decent rule for school.
And while we’re at it, it doesn’t hurt to check out who wrote the textbook/input your taking in either.
This is all especially true when we’re making a big decision.
Big decisions – houses, spouses, and blouses* – they require us to make a projection about the future.
We do some research, ask some people who “know”/”know a guy,” and take in various forms of advice .
Here’s where Munger comes in. Because when we’re researching decisions and taking input from others, we never want to forget IT’S OUR DECISION AND WE WILL BE LIVING WITH IT.
I don’t let people do projections for me because I don’t like throwing up on the desk.
Don’t be arrogant. Gather whatever amount of advice and input is appropriate, but do your own homework.
And in a world where more things always can happen than will happen, you own your own decisions. I know that’s a clunky sentence. But you own your own decisions. Embrace it.
*trademark pending, and even if this isn’t that good, I thought it was pretty funny when I wrote it