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In response, Munger shared a slightly less optimistic view than Buffett.
He stated, "I think the best road ahead to human happiness is to expect less. I think it's going to get tougher." https://t.co/RodAnfnDb5
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Book smart or street smart ?
Good to be book smart ? Yes
How about street smart? Yes too.
Reading not enough can cause you hindsight biases.
You only understand the situation after it has happened.
Reading can help avoiding the mistakes by learning lessons from the others.
For example, a scientist may rely more on book smarts, while a salesperson may rely more on street smarts.
From my experience and observation, it seem people working on the ground are mostly street smart while those above are book smart.