Showing posts with label Charles Thomas Munger. Show all posts
Showing posts with label Charles Thomas Munger. Show all posts

Sunday, April 22, 2018

The opinion on the other side

I was recently referring to my old elementary school science teacher who would always play the part of the Devil's advocate against the pupils' point of view, just to make them see the other side - and in that context I found it interesting that I stumbled upon a quote from Charlie Munger, who is perhaps best known to be Warren Buffet's partner in the investment firm Berkshire Hathaway. The quote says that:
I never allow myself to have an opinion on anything that I don't know the other side's argument better than they do.
An attitude which, despite the fact that it sounds ambitious, is very good to have - as the knowledge it talks about is good to have. If you get to know the arguments both for and against so well that you would be able to argue for both at one and the same time, you also have in your conscious mind had the internal discussion that allows you to have an opinion.
This does not have to mean that you form an opinion which in carved in stone for eternity. People change, times change, and it's a very bad idea to hold on something just because you once thought it was the best way.
(Translated from Meningen på den anden side, originally published February 2, 2017)