Munger: Override credentialed experts when incentive bias impairs their cognition
David Senra · I had dinner with Charlie Munger · Mar 2, 2024 · at 1:08:13
Founders podcast host David Senra quotes Charlie Munger on balancing the confidence to reject biased expert opinions against knowing when to defer to expertise.
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“You must have the confidence to override people with more credentials than you, whose cognition is impaired by incentive-caused bias or some similar psychological force that is obviously present. But there are also cases where you have to recognize that you have no wisdom to add and that your best course is to trust some expert.”
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