korrents

Our readingWhat is a korrent?

Because of incentive-caused bias, a professional advisor’s advice deserves distrust, especially when it is especially good for the advisor

Drawn from what Charlie Munger said

What these subjects mean

mental models Thinking tools borrowed across disciplines: inversion, second-order effects, circles of competence, probabilities, incentives.

behavioural science Applying how people actually decide to policy, rather than assuming how they should.

Incentives

Which mental models help you think better?under our view: Incentives are stronger than anyone admits, including about yourself

What Charlie Munger actually said

  1. Charlie Munger Warren Buffett's business partner and vice chairman of Berkshire Hathaway
    Widespread incentive-caused bias requires that one should often distrust, or take with a grain of salt, the advice of one’s professional advisor, even if he is an engineer. The general antidotes here are: (1) especially fear professional advice when it is especially good for the advisor; (2) learn and use the basic elements of your advisor’s trade as you deal with your advisor; and (3) double check, disbelieve, or replace much of what you’re told, to the degree that seems appropriate after objective thought.

Added to korrents 9 Oct 2026 · How quotes work · Something wrong? Tell us

Do you hold this korrent?Do you also believe this?

I hold this too

Related korrents

Shared subject first, then similar wording. They may agree or disagree.

See this claim on the map