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Wednesday, November 29, 2023

Tribute to Charlie Munger (January 1, 2024 - November 28, 2023)

Aloha Everyone,

Charlie Munger maybe known as the man who created and ran Berkshire Hathaway with Warren Buffet. He was a real estate lawyer with an extraordinary mind, a philanthropist, a humanitarian who was able to make a difference in people’s lives.

Charlie Munger was born in Omaha, Nebraska and maintained his “simple folks” persona which was his authentic self.

Here are but a few words of wisdom from Charlie Munger.

The Importance of learning

“I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than they were when they got up and boy does that help, particularly when you have a long run ahead of you.”

“In my whole life, I have known no wise people (over a broad subject matter area) who didn’t read all the time—none, zero. You’d be amazed how much Warren reads—and how much I read. My children laugh at me. They think I’m a book with a couple of legs sticking out.”

“There is no better teacher than history in determining the future... There are answers worth billions of dollars in a $30 history book.”

“It’s kind of fun to sit there and outthink people who are way smarter than you are because you’ve trained yourself to be more objective and more multidisciplinary. Furthermore, there is a lots of money in it, as I can testify from my own personal experience.”

“The idea of caring that someone is making money faster (than you are) is one of the deadly sins. Envy is a really stupid sin because it’s the only one you could never possibly have any fun at. There’s a lot of pain and no fun. Why would you want to get on that trolley?”

“We both insist on lots of time being available almost every day just to sit and think. That is very uncommon in
American business. We read and think. So Warren and I do more reading and thinking and less doing than most people in business..”

“The best armor of old age is a well spent life preceding it.”

Aloha -- Cathi