In New Interview Charlie Munger Warns The Current Market Rally Has Been “Unbelievable”

“A lot of smart people think they are way smarter than they are,” Charlie Munger told his audience in a virtual Q&A session hosted by the California Institute of Technology earlier this week. This way of thinking, he went on to add, makes these smart people “worse than dumb people.” The billionaire made these comments following a question from his virtual audience, which asked: “do smart people predict the future better than others?” Munger stated that “it’s very common to be utterly brilliant and to think you’re way to hell smarter than you are.” This can lead one to make…