Charlie Munger on Idiot Appraisers ...

[RCA]

This is worth listening to:

(Published October 4, 2023)

It reminds me of the RCA method I created - which is kind of the 3-dimensional case of traditional appraisals 2-dimensional method. (I add constraints + MARS + ....).

 

[RCA]

Based on Grok-3, "idiot" is of course an exaggeration. It does appear that both Warren Buffet and Charlie Munger, expect their appraisers to be experts in their subject matter, and the term "idiot" is relative to their expectations. Which is the real problem here. Finding "expert" appraisers for people with high standards, is nearly impossible, if not absolutely impossible.