ᐅ With so much money riding on reported numbers, human nature is to manipulate them. And with so many doing it, you get Serpico effects, where everyone rationalizes that it's okay because everyone else is doing it. It is always thus. – Charlie Munger | QuotesTrue.com

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With so much money riding on reported numbers, human nature is to manipulate them. And with so many doing it, you get Serpico effects, where everyone rationalizes that it's okay because everyone else is doing it. It is always thus.

Charlie Munger

"Charlie Munger Speaks - Part 2". Charlie Munger's general comments at the 2000 Wesco Financial Annual Meeting, www.fool.com. May 15, 2000.

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