Standard Stupidities: Introduction
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.
Other people are trying to be smart. All I’m trying to be is non-idiotic. I find that all you have to do to get ahead in life is to be non-idiotic and live a long time. It’s harder to be non-idiotic than most people think.
Charlie Munger Quotes from Chapter 8 of Green (2021)
What is a Standard Stupidity? For me, it is a situation or problem with a clear rational solution which many people still screw up massively.
There is a large supply of Standard Stupidities in investing and I am looking forward to disentangle some of them in this series.