1. Interview with Charlie Munger.
2. Parts of Munger’s explanation are taken from three lectures on the psychology of human misjudgment, and his commencement address to the Harvard School on June 13, 1986, both as found in Poor Charlie’s Almanack, The Wit and Wisdom of Charles T. Munger, edited by Peter D. Kaufman. Virginia Beach, Va.: Donning Company Publishers, 2005. The rest is from interviews with the author. Remarks have been edited for brevity and clarity.
3. Interview with Charlie Munger.
4. Munger’s driving habits are described in Janet Lowe, Damn Right! Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger. New York: John Wiley & Sons, 2000.
5. Required to produce a doctor’s note to prove he was blind in one eye and qualified for a special license at the California Department of Motor Vehicles, Munger refused and offered to take out his glass eye instead.
6. Munger’s doctor used an older type of surgery that had a higher complication rate. Rather than blame the doctor, Munger claims he should have done more research on doctors and types of surgery himself.
7. Buffett’s interest in such products as pig stalls and egg counters is limited; he reviews some of these statistics in a summarized form.
8. Despite the complaints of passengers, Buffett has never, to the author’s knowledge, been responsible for an accident, only near heart attacks.
9. Beth Botts, Elizabeth Edwardsen, Bob Jensen, Stephen Kofe, and Richard T. Stout, “The Corn-fed Capitalist,” Regardie’s, February 1986.