Charlie Munger is a legendary investor. At the time of writing, he’s 99 years old and still sharp as a knife. Munger has been Warren Buffet’s partner in Berkshire Hathaway for decades and he’s been said to be “the broadest thinker he has encountered” by Bill Gates. Munger’s philosophy and thinking is as deep as it goes. He is worth studying carefully.
Why listen to Munger?
Munger’s track record in investing is formidable. Also, smart people describe him as the smartest people they’ve ever met.
Again, Munger is not a god and also makes mistakes. Which also emphasizes his own message that everyone makes mistakes in investing. Munger directed Daily Journal to make a large investment in Alibaba which later turned out to be a big mistake.
What to learn from Munger?
#philosophy, #life, #principles, #investing
You should learn the big ideas from different disciplines. Then use them daily to actually learn how to understand them deeply and be able to use them properly.
Ideas / Quotes
“Spend each day trying to be a little wiser than you were when you woke up. Day by day, and at the end of the day-if you live long enough-like most people, you will get out of life what you deserve.”
“I think Warren and I know the edge of our competency better than other people do.”
“We have three baskets: in, out, and too tough. … We have to have a special insight, or we’ll put it in the “too tough” basket.”
Resources
https://en.wikipedia.org/wiki/Charlie_Munger
Poor Charlie’s Almanack: The Wit and Wisdom of Charles T. Munger
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