Charlie Munger, Li Lu Interview: Rationality Is The Most Important Quality Investors Need

This is the third part of a short series covering a rare interview with Chinese investor Li Lu and Charlie Munger. Part one of the series is here: Charlie Munger and Li Lu Rare Interview: What Makes Successful Investors And part two: Charlie Munger, Li Lu Interview: “If The Reality Changes, We Will Change As Well” Q1 hedge fund letters, conference, scoops etc Investors and rationality Following the discussion on Berkshire Hathaway’s businesses model, the interviewers ask Charlie Munger why he believes rationality is the most essential quality for investors, instead of “knowledge, intelligence patience or other things.” “All of those things…