Charlie Munger Explained If You Want To Become Rich, Stop Trying To Be 'Intelligent' And Aim For 'Not Stupid' Instead [Yahoo! Finance]
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Source: Yahoo! Finance
In a world where intelligence is often touted as the key to success, Munger proposed a counterintuitive strategy. "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," he said. Don't Miss: Can you guess how many Americans successfully retire with $1,000,000 saved? The percentage may shock you Are you rich? Here's what Americans think you need to be considered wealthy. Munger believed that true wisdom in finance comes from understanding the limits of your knowledge. "Knowing what you don't know is more useful than being brilliant," he said, showcasing the importance of recognizing your boundaries in expertise. This philosophy resonates in financial decision-making, where the allure of complex investments can often lead to pitfalls for the uninformed. Munger's emphasis on the "circle of competence" — sticking to what you know best — is a testament to his approach to stra
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