Quote by Charlie Munger

Mimicking the herd invites regression to the mean.

Mimicking the herd invites regression to the mean.

Summary

This quote suggests that imitating or conforming to the actions and behaviors of the majority can lead to a mediocrity or a decline in performance. "Regression to the mean" refers to the tendency for extreme or exceptional outcomes to move back towards the average over time. By blindly following the herd, one risks losing their individuality, ideas, and potential for reaching their own exceptional outcomes. It implies that innovation and success often come from thinking independently and standing out from the crowd.

Topics

Business Imitation Mungerisms Copying

By Charlie Munger

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