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“Most money-making activity contains profoundly antisocial effects . . . As high cost modalities become ever more popular . . . the activity exacerbates the current harmful trend in which ever more of the nation’s ethical young brain-power is attracted into lucrative money-management and its attendant modern frictions, as distinguished from work... See more
John Bogle • "Enough"
Charlie Munger on Elon Musk ↓
In 2019, 95-year-old Charlie Munger, Vice Chairman of Berkshire Hathaway and Warren Buffett’s longtime business partner, didn’t hold back on leadership.
He shared his hiring philosophy:
“I want the guy who understands his limitations... See more
brecht.desmedtinstagram.comCharlie Munger
Adrien • 1 card
“Munger is rarely without a compound rate of return table.”
"Understanding both the power of compound return and the difficulty getting it is the heart and soul of understanding a lot of things" - Charlie Munger https://t.co/alwluXGyVx
When Warren lectures at business schools, he says, “I could improve your ultimate financial welfare by giving you a ticket with only 20 slots in it so that you had 20 punches, representing all the investments that you got to make in a lifetime. And once you’d punched through the card, you couldn’t make any more investments at all.” He says, “Under
... See moreCharles T. Munger • Poor Charlie’s Almanack: The Essential Wit and Wisdom of Charles T. Munger
Poor Charlie’s Almanack: The Wit and Wisdom of Charles T. Munger by Charlie Munger (edited by Peter Kaufman) This masquerades as a business book, but it’s really just Charlie Munger (of Berkshire Hathaway)’s advice on overcoming oneself to live a successful and virtuous life. [7] [80]
Tim Ferriss • The Almanack of Naval Ravikant: A Guide to Wealth and Happiness
Widely-respected investor Charlie Munger on how to avoid falling victim to intense ideology and unclear thinking:
“I have what I call an ‘iron prescription' that helps me keep sane when I drift toward preferring one intense ideology over another. I feel that I'm not entitled to have an opinion unless I can state the arguments against my position... See more
“I have what I call an ‘iron prescription' that helps me keep sane when I drift toward preferring one intense ideology over another. I feel that I'm not entitled to have an opinion unless I can state the arguments against my position... See more