Charlie Munger
This revision is from 2023/11/29 14:37. You can Restore it.
"If you make yourself a very reliable person and stay reliable all your life, faithfully doing whatever you engage to do, it will be very hard for you to fail at anything you want."
To get what you want, you have to deserve what you want. The world is not yet a crazy enough place to reward a whole bunch of undeserving people.
"The first rule of a happy life is low expectations. That’s one you can easily arrange. And if you have unrealistic expectations, you’re going to be miserable all your life."
"The highest form that civilization can reach is a seamless web of deserved trust. Not much procedure, just totally reliable people correctly trusting one another." https://x.com/garrytan/status/1729678525257433499
Formula for success is simple - https://x.com/OpenskiesX/status/1729678377773117788
- Spend less than you earn
- Invest prudently
- Avoid toxic people
- Avoid toxic activities
- Defer gratification
- Never stop Learning
how to play the (very) long game. https://twitter.com/awilkinson/status/1729635602084323697
- “I don’t need the last dollar”
- “Hold your nose and carry on”
- “It’s foolish to try to change someone’s mind”
- “It’s a mistake to be deeply ideological about almost anything - it’s better to have doubt”
on System in India https://x.com/mxtaverse/status/1729714035375870093 and quoting Lee Kuan Yew
November 28 - https://www.berkshirehathaway.com/news/nov2823.pdf
“The world is not driven by greed. It's driven by envy. I have conquered envy in my own life. I don't envy anybody"
On Elon Musk https://youtube.com/shorts/1XkcVFyRhNs
On people who try to teach others … how to trade in stocks … https://youtube.com/shorts/jYDeRRTEABE
David Senra had dinner with Charlie Munger. https://twitter.com/FoundersPodcast/status/1638222631676551170 - Go for Great
- Charlie looks at everything through the lens of history. Human nature does not change. The same behaviors repeat forever.
- Problems from time to time should be expected. This is an inescapable part of life.
- Wise people do not whine about problems. They prevent them: "Wisdom is prevention." —Charlie Munger
- Great businesses are rare. Great people are rare too. Great people and great businesses produce fewer problems.
Your Mission in life is to get into a great business (and stay there) and build relationships with great people. Doing that will prevent the majority of problems that are under your control.