Charlie Munger Quotes:
Ocupation: Business person
Life: b. January 1, 1924
Birthday: January 1
The possibility that stock value in aggregate can become irrationally high is contrary to the hard-form "efficient market" theory that many of you once learned as gospel from your mistaken professors of yore. Your mistaken professors were too much influenced by "rational man" models of human behavior from economics and too little by "foolish man" models from psychology and real-world experience.
topic: Real, Men, Foolish Man, Efficient Markets
