Vice chairman of Berkshire Hathaway (1924-2023); Warren Buffett's partner and the great popularizer of mental models and inversion.
2 topics · 12 distinct points
6 points · 4 appearances · 2007–2020 · changed view
“Well, you can say everybody knows that. Well, I think I've been in the top 5% of my age cohort all my life in understanding the power of incentives, and all my life I've underestimated it. And never a year passes but I get some surprise that pushes my limit a little farther.”
6 points · 4 appearances · 2007–2020 · changed view
“I tried to do something about this terrible ignorance I left the Harvard Law School with when I saw this patterned irrationality which was so extreme. And I had no theory or anything to deal with it. But I could see that it was extreme and I could see that it was patterned. I just started to create my own system of psychology, partly by casual reading but largely from personal experience, and I used that pattern to help me get through life.”
