Bertrand Russell: On Avoiding Foolish Opinions

Widely-respected investor Charlie Munger on how to avoid falling victim to intense ideology and unclear thinking:

“I have what I call an ‘iron prescription' that helps me keep sane when I drift toward preferring one intense ideology over another. I feel that I'm not entitled to have an opinion unless I can state the arguments against my position bet... See more

Open-minded people see disagreement as a thoughtful means to expand their knowledge. They don’t get angry or upset at questions; rather, they want to identify where the disagreement lies so they can correct their misperceptions. They realize that being right means changing their minds when someone else knows something they don’t.If you recognize cl... See more