Life Lessons of the late Mr Charlie Munger.
Some life lessons I've summarised from renowned investor Charlie Munger, of Berkshire Hathaway fame, who passed away last week. But a month short of 100 yet by all accounts sharp as a tuppence.
I’ve been following some of the glowing obituaries for the late Charlie Munger, who just passed away. I’ve summarised a few of Mr Munger's top pieces of wisdom. I suspect we will hear many more. There may even be another update later. He’s got a massive legacy to learn from.
OK enjoy: Enjoy. RIP Mr Munger and thank you!
True wealth takes patience and grit. Here's a blast of more …
“Roll with life's punches when you can. Build real mastery versus surface-level knowledge and walk the talk in relationships. Flip problems upside down to see new solutions. Face harsh truths head-on. Resist mindless conformity. Prioritise what’s achievable. Follow your passions. Let your knowledge slowly grow over time.”
Just some humdinger Charlie Munger's insights. For a start:
1. The Most Valuable Riches Take Time: Patience and perseverance are essential in pursuing enduring wealth, relationships, and personal growth.
2. Avoid the Second Arrow: Challenges are inevitable, but our reaction to them is within our control. Choosing constructive responses in the face of adversity is key.
3. Develop Real Knowledge: True understanding goes beyond memorization—it requires a deep framework of interconnected ideas and models.
4. Live What You Want to Receive: Actively embody the values and qualities you seek in others to attract and nurture meaningful relationships.
5. Invert, Always Invert: Solving problems by identifying what to avoid and understanding the negative outcomes can lead to better solutions.
6. Avoid the Ostrich Effect: Confront reality, even when it's uncomfortable or challenges your beliefs. Seeking truth over confirmation is vital.
7. Never Mimic the Herd: Individuality and authenticity are paths to success; mimicking others leads to mediocrity.
8. Create a "Too Hard" Pile: Focus on manageable tasks rather than tackling overly complex problems that might lead to unnecessary mistakes.
9. Success Follows Interest: Genuine interest and curiosity drive deep focus and excellence in any endeavour.
10. Wisdom Compounds: Continuous learning and seeking incremental growth lead to a life of accumulating wisdom.
The overarching theme or character trait reflected in Munger's insights is a combination of ‘wisdom’ and ‘pragmatism’. He consistently emphasizes the importance of practical, informed decision-making, patience, continuous learning, and a deliberate approach to life's challenges. The underlying theme is the pursuit of understanding, personal growth, and the application of learned wisdom in everyday life.
There’s a shedload of amazing obituary information out there. Enjoy and comments in the ‘come-en ye’ section are open.
I would like to invite you to listen to this also, as well as a lovely Limerick lilt in John Collison’s incisive enquiries hereby, there is just too much to do a disservice of not mentioning directly. Here’s a long link: https://pod.link/1154105909/episode/2f7c3d91ca3abd88babb686ab299193a
Thanks for reading and have a great week. Peace.
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