In his own words · Independence
“If you don't work hard at trying to remain rational and you're constantly floating along caring terribly about what other people think, you're almost sure to be carried to folly by the folly of the crowd.”
— Charlie Munger · Outstanding Investor Digest, 2003 Wesco Financial AGM excerpts, via Kingswell ('Yet Another Munger Masterclass: The 2003 Wesco Financial AGM', https://www.kingswell.io/p/yet-another-munger-masterclass-the) and Investment Masters Class (http://mastersinvest.com/herdscrowdscontrariansquotes) · 2003
As recalled from Outstanding Investor Digest, 2003 Wesco Financial AGM excerpts, via Kingswell ('Yet Another Munger Masterclass: The 2003 Wesco Financial AGM', https://www.kingswell.io/p/yet-another-munger-masterclass-the) and Investment Masters Class (http://mastersinvest.com/herdscrowdscontrariansquotes) · 2003 — the sense is right but the wording is not verbatim.
Wording approximate (from OID's 2003 Wesco excerpts).