99 Years of Charlie Munger Wisdom in 44 Minutes [video]
youtube.comOne of my favorite Munger quotes is "The more you shout it out, the more you pound it in".
Meaning that if you talk with a strong opinion on a subject, then it is hard for you to change your mind by thinking it through further and coming to the conclusion that you were wrong.
I guess one could turn this into a recommendation like "Speak softly and stay flexible".
It's interesting to note that Munger himself often didn't follow this advice and was quite bold in expressing his thoughts.
Your last paragraph is hilarious in how it basically shows Munger in reality was a hypocrite or basically just another dipshit in a suit talking up their book.
Seriously do the math on the utility of money especially with respect to Charlie Munger…
Now that he is dead, the only people that wouldn’t benefit from his estate and wealth being redistributed (as with anyone’s assets over $XXmm) are the Mungers. It’s the most broken part of the system he exploited. Even when you have too much it’s a mental illness that is praised in the US to want more.
Im glad he’s dead so people like you won’t be confused by useful ideas put forward by a societal virus.
Andy Rooney: “Always keep your words soft and sweet, just in case you have to eat them.”
To give him credit, he likely had investment decisions in mind when he said that. There's the exception of some stuff like Bitcoin and information given at the annual shareholders meetings, but I don't recall him publicly disclosing investments before they were already known.
"strong opinions, loosely held"
(i think it was Bezos who first expressed this ideal?)
Isn't Munger famous for strong opinions strongly held on things he doesn't know about? I don't understand the worship here.
Care to provide an example that isn't cryptocurrencies?
Architecture.
> I don't understand the worship here.
Like another 10 million things in world. Its fine.
Amorality as a virtue.
Not every opinion is a moral one.
"opinions are like .... - everybody has one, and they all stink"
If you have strong opinions, you're dividing people. If you're Bezos, you've got a lot of influence. If you then dump them out of opportunism, you're ignoring any morality.
I know that a lot of people here on HN are enamored with CM but I feel differently.
In October 2021, Munger's insistence that the university follow his design compelled architect Dennis McFadden, who had served the university for two decades, to resign from the university's Design Review Committee. McFadden stated that the windowless, 1.68-million-square-foot dormitory would be "unsupportable from my perspective as an architect, a parent, and a human being ... An ample body of documented evidence shows that interior environments with access to natural light, air, and views to nature improve both the physical and mental wellbeing of occupants ... The Munger Hall design ignores this evidence and seems to take the position that it doesn't matter ... [T]he building is a social and psychological experiment with an unknown impact on the lives and personal development of the undergraduates the university serves."[48] In August 2023, after widespread backlash to what critics called the "windowless dorm," UC Santa Barbara abandoned the project and began to solicit alternative housing proposals. Munger also withdrew his pledge of support.
Every thread about munger points this out. Personally I feel it’s missing the forest for the trees. I’m not going to defend the dorm, but munger was one of the titans of business and investing. There’s so much more founders can take away from him than this story about the dorm.
yeah but it reads a little like he puts himself above others (e.g. the students here). He also did not sign the giving pledge, although he justified this by saying he already gave too much to his children for it to work - I cannot argue with these semantics but it's not a good look, nonetheless.
As a matter of fact we should stop revering multi billionares. There definitely should be a comeback of the term stinkin rich.
And yet the very same design was funded by Munger and built in Ann Arbor.
If what you say is true, how do you explain the incredibly high scores given by the students that live there?
https://www.veryapt.com/ApartmentReview-a7222-munger-graduat...
Are you willing to entertain the possibility that it is you that puts your rage over a design you never experienced over the real life experiences of the students that clearly enjoy the space?
Thank you for sharing this. Makes me think that we should always assume positively. Perhaps Munger had a reason for supporting a closed-off dorm, based on what information he had on them. A reason strong enough for him.to be convinced that an alternative was not worth supporting.
> "As a matter of fact we should stop revering multi billionares. There definitely should be a comeback of the term stinkin rich."
I've always called 'em the "filthy rich" because you know that almost all of them what got that (financially) "rich", they all had'ta get way more'n just their hands "dirty".
I’ve heard this anecdote multiple times. But, what was the rationale for making it windowless? Was he trying to discourage students from spending any time in their rooms?
Much cheaper if you can build rooms not just along the outer edge but also the inside of the building. The students at the University of Michigan are giving it good reviews https://www.veryapt.com/ApartmentReview-a7222-munger-graduat...
Yes, his design was meant to encourage dorm rooms to be used only for sleeping and quiet focused study.
Ok, let’s make sure to judge your life by the decisions you make in your late 90s too. I’m sure they’ll be much more sound.
BUT BUT BUT... Reads notes... "Think about the dorm!!!"
Wisdom from greedy people is like water from a swamp
Sometimes, I feel like people who treat life like a game can quite easily then "win it".
I guess I feel like if life is a game I've played very poorly, but if life is for living I've lived pretty well.
But of course that's loser talk /s
A person can have no money but still believe he was successfull in life and a person with all the money in the world can see himself as a failure.
Winning is subjective. The world may think you are losing but are you?
Work life is most certainly a game. Not life in general.
At least in the US i haven’t seen many people who treat work like a game not treat life like a game. For example often times it’s clear the motivation for hanging out with them is networking. Then they get to work and tell you how building relationships helps them work better and allow them to push people harder when times are tough. After all they can fall back on those past experiences.
I don’t think these type of people are inherently bad but I like to spend my time wisely and over time I have found this means not spending time with the people who are above you and in some cases at your same level if you are a manager.
When every conversation is about work or work tangential maybe it’s time you find a hobby.