Elementary Worldly Wisdom. A Lesson on Elementary, Worldly Wisdom As It Relates To Investment Management & Business Charles Munger, USC Business School, 1994 I'm going to play a minor trick on you today because the subject of my talk is the art of stock picking as a subdivision of the art of worldly wisdom.
That enables me to start talking about worldly wisdom—a much broader topic that interests me because I think all too little of it is delivered by modern educational systems, at least in an effective way. And therefore, the talk is sort of along the lines that some behaviorist psychologists call Grandma's rule after the wisdom of Grandma when she said that you have to eat the carrots before you get the dessert. The carrot part of this talk is about the general subject of worldly wisdom which is a pretty good way to start. After all, the theory of modern education is that you need a general education before you specialize.
Schelling Segregation Model. How to Dispel Your Illusions by Freeman Dyson. Thinking, Fast and Slow by Daniel Kahneman Farrar, Straus and Giroux, 499 pp., $30.00 In 1955, when Daniel Kahneman was twenty-one years old, he was a lieutenant in the Israeli Defense Forces.
