Forgetting your mistakes is a terrible error if you’re trying to improve your cognition. Reality doesn’t remind you. Why not celebrate stupidities in… - Charlie Munger

He also had a very interesting competitive strategy in the early days. He was like a prizefighter who wanted a great record so he could be in the finals and make a big TV hit. So what did he do? He went out and fought 42 palookas. Right? And the result was knockout, knockout, knockout — 42 times.

A lot of smart people think they're way smarter than they are, and therefore they do worse than dumb people. And it's very common to be utterly brilliant and think you're way the hell smarter than you are.

I see [Bitcoin as] an artificial speculative medium that people are buying just because they think they can sell it to somebody else at a higher price, even though it inherently has no intrinsic value. So, I regard the whole business as anti-social, stupid, immoral. [...] I regard the thing as a combination of dementia and immorality, and I think the people that are pushing it are a disgrace.