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Charlie Munger has died
- brian_herman 3y ago[flagged]
- morelisp 3y ago[flagged]
- justinzollars 3y ago:{
- gaoryrt 3y ago=(
- deleted 3y ago[deleted]
- GenerWork 3y agoWow, I knew he was old, but had no idea he wasn't well. Aftermarket movement of BRK.A/BRK.B seems to be muted, so I guess right now investors aren't too worried about the future of Berkshire.
- bboygravity 3y agoMost of the trades in that stock have been routed through dark pools (they don't hit lit exchanges), so even if there are (huge) trades you wouldn't necessarily see the price move.
- jjtheblunt 3y agoDo you have a citation with statistics for this? I don’t know if it’s right or wrong but regardless, it’s extremely interesting as far as assertions go.
- jjtheblunt 3y agoPertinent: https://www.investopedia.com/articles/markets/050614/introduction-dark-pools.asp https://www.investopedia.com/articles/markets/050614/introdu...
- scott00 3y agoDark pool trades are reported to the FINRA TRF within at most 10 seconds and appear on the consolidated market data feed.
- nabla9 3y agobboygravity is right. >BRK.A Off Exchange & Dark Pool Summary >Today's Off Exchange & Dark Pool volume is 6,792, which is 98.11% of today's total volume. Today's Lit volume is 131, which is 1.89%. Over the past 30 days, the average Off Exchange & Dark Pool volume has been 97.51%. The average Lit volume has been 2.49%. https://chartexchange.com/symbol/nyse-brk.a/exchange-volume/ https://chartexchange.com/symbol/nyse-brk.a/exchange-volume/
- qwytw 3y ago> bboygravity is right. So you're saying I (or whoever) can can buy shares for less in one of the "dark pools" and sell them on the market and make free money?
- nabla9 3y agoFor you and me it offers an opportunity to lose money.
- zie 3y agoThey still show up in the market price, even if they are traded off exchange.
- qwytw 3y ago> so even if there are (huge) trades you wouldn't necessarily see the price move. So you're saying there is an arbitrage opportunity and you can literally make free money? Because that doesen't make much sense.. You might not see all the trades immediately, but they are still reflected in the price with minimal delay.
- mkl 3y agoNo 99-year-old is "well" in absolute terms. A 99-year-old US man has only about a 66% chance of reaching 100: https://www.finder.com/life-insurance/odds-of-dying https://www.finder.com/life-insurance/odds-of-dying. A 95-year-old man has about a 16.5% chance of reaching 100, so he'd already done pretty well.
- paulpauper 3y agoI wonder what killed him aside just being really old. he died at a hospital and not at home, so something must have happened. his last media appearance was on the 17th of nov 2023.
- xanderlewis 3y agoI doubt it’s anything dramatic. Stubbing your toe on a table leg could probably kill you when you’re 99.
- petrusnonius 3y agoWeirdly I was just looking for this data today, thanks.
- loganfrederick 3y agoA legend of the business and investing world. Acquired podcast got to do one of (possible the) last interviews with him a month ago for anyone looking for recent content from him: https://www.acquired.fm/episodes/charlie-munger https://www.acquired.fm/episodes/charlie-munger Also Stripe Press is releasing just next week a book (technically re-release of an older book) on his collected thoughts: https://press.stripe.com/poor-charlies-almanack https://press.stripe.com/poor-charlies-almanack
- abhayhegde 3y agoRemotely related, but that site of Stripe Press is great! Thanks for linking.
- everydaypanos 3y agoClick on any book other than the first. Resize the window. Awkwardly jumps to first book..
- divbzero 3y agoI highly recommend listening to the Acquired interview. At age 99 he was still remarkably sharp and up-to-date.
- ketzo 3y agoMy favorite tweet about his death: "TRUE G IS IF YOU DIE AT AGE 99 AND THEY STILL WAIT UNTIL AFTER THE CLOSE FOR THE ANNOUNCEMENT." [1] https://x.com/INVESTMENTSHULK/status/1729608350751449218?s=20 https://x.com/INVESTMENTSHULK/status/1729608350751449218?s=2...
- enos_feedler 3y agoI just listened to the Acquired interview walking through the redwoods on Sunday. I am gutted because he talked about his 100th birthday celebration at the California club and joked how it was a full party with no invitations left. It broke my heart that he isn't around to celebrate and enjoy that experience.
- epiccoleman 3y agoI have a Munger quote on my corkboard behind my monitor, which I read every so often and try to embody: > Feeling like a victim is a perfectly disastrous way to go through life... self-pity is not going to improve the situation... If you just take the attitude that, however bad it is in any way, it’s always your fault and you just fix it as best you can, I think that works
- dang 3y agoSomeone posted this as a follow-up, no doubt, to the current thread: Charlie Munger – Feeling Like a Victim Is Perfectly Disastrous - https://news.ycombinator.com/item?id=38451543 https://news.ycombinator.com/item?id=38451543 As the discussion here is veering off topic, I think we may as well merge this subthread into that thread and magically make them all on topic again.
- pepy 3y agoFarewell Charlie. Thanks for all the wisdom.We will miss your witty remarks.
- cainxinth 3y agoAs billionaires go, he seemed unusually down to earth. I listen to his lecture on "The Psychology of Human Misjudgement" every few years: https://www.youtube.com/watch?v=pqzcCfUglws https://www.youtube.com/watch?v=pqzcCfUglws
- gist 3y agoWhat you mean is probably 'as far as public billionaires goes'. And with regards to 'down to earth' like anyone of prominence they don't care about you or wouldn't help you in any way (and couldn't possibly). So we are not talking about the guy next door who lends you his saw and is already around for advice and a helping hand. Don't think for a second they aren't selfish in their own way they would have to be in order to be involved and run an enterprise of that magnitude. What does down to earth mean anyway? Most people probably think that it means you appear to be more like the common man and don't have the typical trappings of wealth (or if you do nobody knows about them).
- tm-guimaraes 3y ago> What you mean is probably 'as far as public billionaires goes'. And with regards to 'down to earth' like anyone of prominence they don't care about you or wouldn't help you in any way (and couldn't possibly) That applies to any stranger. Basically, a billionaire is human like any other. We do idolize Billionaire / celebrity too much, but these unkind takes don't help anyone. > Don't think for a second they aren't selfish in their own way they would have to be in order to be involved and run an enterprise of that magnitude. every human is selfish in their own way. > What does down to earth mean anyway? Most people probably think that it means you appear to be more like the common man and don't have the typical trappings of wealth (or if you do nobody knows about them). by your definition, he is down to earth. I would not define it like that, but i don't even know how to define it, but i would say that it correlates with not living for the apparatus or "big life" / hype / spend, and enjoying "small" things (ie, good and long lasting friendships, healthy family relations, simply enjoying a meal with people they care) Munger and Buffet do seem to fit that.
- deleted 3y ago[deleted]
- alexb_ 3y agoEverybody should read his speech, "The Psychology of Human Misjudgment": https://fs.blog/great-talks/psychology-human-misjudgment/ https://fs.blog/great-talks/psychology-human-misjudgment/ It's a fantastic read that can really help you understand why supposedly rational masses of people can end up being so wrong. In the tech world, it ends up being more relevant than one would like it to be.
- mdp2021 3y agoThat linked is the revised version A transcript of the original speech at Harvard, June 1995, should be e.g. at https://jamesclear.com/great-speeches/psychology-of-human-misjudgment-by-charlie-munger https://jamesclear.com/great-speeches/psychology-of-human-mi... A recording of the original speech is at https://www.youtube.com/watch?v=Jv7sLrON7QY https://www.youtube.com/watch?v=Jv7sLrON7QY
- deleted 3y ago[deleted]
- Almondsetat 3y agoThe funny thing is that since this guy died at 99yo it means that 30 years ago he was still an old 70yo man. Screws with my brain sometimes
- schnebbau 3y ago30 years ago I was in diapers and barely aware of what was going on around me. This old man was still an old man. Youth really is fleeting.
- jpmattia 3y ago> Youth really is fleeting. So is all of life. Signed, a 60 year old
- noonething 3y agoand wasted on the young...
- auchenberg 3y agoRIP Charlie
- x86x87 3y agoWhy? What does this dude have to do with Hacker News?
- trompetenaccoun 3y agoEvery now and then the mask fully slips and you see how many users here really think. Munger was famously anti modern tech and even called the internet a "net negative" for capitalism at one point in 2000, but it doesn't matter because he was rich. Also he made so much money that all the comments where he praised a brutal dictatorship are apparently no big deal, for example for cracking down on Jack Ma who dared to mildly criticise Xi's leadership. Everything for that share price, Chinese people don't need human rights anyway.
- x86x87 3y ago> but it doesn't matter because he was rich i think it does matter. Also let me take a minute to disconnect the person - which anyone dying even at this age is tragic - from the persona that many people here seem to worship. Personally I don't think that he was a net positive for the hackers that are still around here but I may be wrong.
- christophilus 3y agoI really liked Charlie. His stance on China was wrong. People aren’t black and white. It’s a tragically small and uninteresting world if you can only learn from and admire people who never make a wrong step and who only ever agree with you.
- parthianshotgun 3y agoInteresting observation. I agree, seems like people, especially so called "hackers", don't want to follow the threads and externalities of these people as far down the causal chain as they would with say, I don't know, starfish reproduction or some other curio. To me, it seems like the most fertile ground for the awareness that billionaires aren't in a vacuum, that fundamentally greedy decisions make our planet worse off..reality has a complexity bias, and it doesn't take much to realize how much harm these people have caused.
- Astronaut3315 3y agoGenuinely sad to hear. His wit and sage advice will be missed. For anyone who has the means to visit a Berkshire Hathaway annual shareholder meeting, it's worth it at least once.
- KerryJones 3y agoStarted going 2 years ago, also made it to DJCO meeting. So happy I did.
- pastor_bob 3y agoPretty Sharp til the end. The fact that people were still listening to what he has to say about investing in Alibaba as recently as this month is actually pretty nuts (in an impressive way).
- peterfirefly 3y agoWas he? I listened to an interview of his a year or two ago and he didn't seem to be all that sharp at point. Amazingly sharp for a guy who was almost a hundred, sure, but not relative to a typical 80-year-old. He must have been amazing when he was younger, though.
- KerryJones 3y agoI think it depends on what you mean by sharp. Quick? No, physical capabilities. His understanding of companies/markets/etc still were considered quite sharp by most investors I know.
- x86x87 3y agoStill didn't get bitcoin.
- PedroBatista 3y agoWho does?
- x86x87 3y agodid you hear about this small firm called Blackrock?
- DontchaKnowit 3y agoHe was absolutely correct about bitcpin and history will vindicate his perspective.
- madspindel 3y agoI'll miss his wisdom: https://youtu.be/tGmhFx_7w4I https://youtu.be/tGmhFx_7w4I
- WinstonSmith84 3y ago"wisdom"... It's a really great video, to illustrate something else. Humanity continues to progress and evolve, as time is the ultimate boundary to those in power - time empowers new generations to perceive the world from a fresh perspective.
- artursapek 3y agoOh was that the guy who designed the windowless dorms?
- scrlk 3y agoYeah: https://en.wikipedia.org/wiki/Munger_Hall https://en.wikipedia.org/wiki/Munger_Hall
- artursapek 3y agoI guess he's on his way to a windowless dorm now aha
- paxys 3y ago> Munger donated $200 million to the project on the condition that the university follow his design exactly. Multibillionaire hubris is truly something else.
- graphe 3y ago[flagged]
- bagful 3y agoA man who fell to his own hubris?
- graphe 3y agoWould you say that about Stanley Kubrick who died even younger and wanted exacting specs? https://old.reddit.com/r/StanleyKubrick/comments/11dqr7m/_/jaafb83 https://old.reddit.com/r/StanleyKubrick/comments/11dqr7m/_/j... If it's from rich people it's hubris. If someone less famous who got what they wanted it's cool.
- davidivadavid 3y ago
- lenerdenator 3y ago[flagged]
- paxys 3y agoSomething happens. Internet: "how fast can I make this about Elon Musk?"
- mhh__ 3y agoCould have been worded differently but it is good to note that Munger and Buffett were different men that complimented eachother.
- lenerdenator 3y agoMunger was the guy who kept Buffet at least somewhat grounded. It's relevant because it's true. Or Peter Thiel. Or Larry Ellison. Or Jack Dorsey. Musk is just the most relevant example. We've taken the mahogany-and-tweed businessmen who realized that at some level they had a responsibility to not be _complete_ assholes to the society and systems that created them, and replaced them with business cult figures. Would Munger and Buffet make layoffs despite having billions? Sure. But they actually _believed_ in the system and would work to protect it in a way that protected their interests as well as the interests of others. See how BH handled Goldman Sachs vs. how Peter Thiel handled SVB, or how Musk handled the takeover of Twitter.
- graphe 3y agoHow was buffet ungrounded? If anything he was too conservative and his real estate still has predatory loans. The recent gains from BH are due to new management to the tech industry from other managers.
- missedthecue 3y agoin his early days, Buffett made is money by buying "cigar butts", the analogy being that you can pull a cigar out of the ashtray for free and get one more puff. These were trash companies that Buffett could wring for one more dollar before they inevitably expired. The problem was that it didn't scale. Munger revolutioned Buffetts method by essentially teaching him to buy great companies are fair prices rather than fair companies at great prices.
- nullindividual 3y ago[flagged]
- christophilus 3y agoHe donated a fair amount throughout his life.
- KerryJones 3y agoCharlie Munger is one of the closest things to a "hero" I've ever had. Others have named them, but Poor Charlie's Alamanack or his Psychology of Human Misjudgement are both incredible. I've made a point of seeing him at Berkshire Hathaway's annual meeting every last few years. He had many trials in his life but lived it well. His wit and wisdom will be missed.
- jesterson 3y agoWould you mind to explain why? Arguably the guy did nothing worthy of admiration. Sure he managed to multiply cashflow, but on my books that doesn't stand nearly to definition of hero. Don't get me wrong - I enjoy his books and interviews perhaps like everyone else. He was incredibly smart character, no doubt about that. But hero? Not trolling, genuinely curious.
- apexalpha 3y agoNot OP but mr Munger and Buffet have also held steady course in an increasingly hype driven financial world. And they've stayed course since the 60s! For that alone they've become (cult) legends among small time investors. As a small time investor myself born in the 90s it is insane the amount of bullsh*t social media will push onto you regarding finance. Their annual meetings where they answer questions are some of the only sane financial advice to be found on YouTube.
- jesterson 3y agoThat's all great, but does it qualify for a hero? They did't do anything with the cash except piling it up and multiplying. By all means they could do that - don't get me wrong again, but that doesn't make them heroes, does it? Their videos are by far _not only_ sane advice out there. They are good, but any decent book on the subject value much more.
- reedf1 3y agoHe is a defacto investment hero. Berkshire Hathaway is reality in sea of insanity. They defined the strategy of finding companies with a good structure, good fundamentals, and a good product and capitalising them. If you are looking for positive externalities to qualify "hero", he probably played a part in creating a large number of the companies you have ever heard of, employing millions and large part of the success of US markets today.
- ChrisArchitect 3y agoRelated: the recent Stripe Press release- Poor Charlie's Almanack: The Essential Wit and Wisdom of Charles T. Munger https://news.ycombinator.com/item?id=38384587 https://news.ycombinator.com/item?id=38384587 RIP
- boeingUH60 3y agoWhenever I want to give an example about American capitalism...I always look to Buffett and Munger as examples. These are people who invested and created long-term value for shareholders, building up economies along the way. The antithesis of crypto bros selling tulip bubbles and some tech companies selling overpriced stocks based on hype. We need more Mungers in the world as the current gen die of old age.
- bakul 3y agoMore Mungers, fewer punters?
- pryelluw 3y agoI guess you haven’t read much on their history with blue chip stamps : https://en.m.wikipedia.org/wiki/Blue_Chip_Stamps https://en.m.wikipedia.org/wiki/Blue_Chip_Stamps Not directly comparable to crypto but an alternate method of investment.
- DontchaKnowit 3y agoWhat? This sounds like it waz a company that ran a loyalty program for retailers. How is that anything like a tulip mania? Sounds like jist a normal, legit business
- paulpauper 3y agoThey invested in opportunities that provided value for them, but this not the same as value investing. They got special deals on stocks unavailable to ordinary investors, like in 2008.
- missedthecue 3y agoHe was already very rich before he made that deal with Goldman. It didn't put him on the map, in fact it only happened because he was already there.
- Slackwise 3y ago> These are people who invested and created long-term value for shareholders https://pbs.twimg.com/media/B5-lDJWCUAAwfya?format=jpg https://pbs.twimg.com/media/B5-lDJWCUAAwfya?format=jpg
- nonethewiser 3y agoOh man. Very sad news. Rest in peace Mr. Munger. Prayers for him and his family.
- deleted 3y ago[deleted]
- paxys 3y agoMissed his century by one month (born 1/1/1924). RIP Charlie.
- bloodyplonker22 3y agoThat is very unfortunate. I saw an interview with Charlie recently and he was talking about what he had planned for his 100th birthday party.
- Animats 3y agoOne of the greats of investing. And a value investor. It's all about the profits, not the growth. Munger is gone, Bogle is gone, Buffett is 93. Who takes up the mantle of value investing now?
- bloodyplonker22 3y agoThat is a good question. With Gen Z being trained to only be interested in get rich quick schemes and having a TikTok attention span, we may never see another great pure fundamentals investor for a long time.
- sfsylvester 3y ago"The youth of today love luxury; they have bad manners, contempt for authority, disrespect for elders, and love talking" ~ Socrates, 432 BC. The only older than elders writing off the youth is the youth proving them wrong. Let's hope some follow Charlie's quote instead: "If you've got anything you really want to do, don't wait until you're 93. Start now, and don't stop!"
- atentaten 3y agoThis quote can't be attributed to Socrates. It's most likely from a satirical play: https://www.bartleby.com/lit-hub/respectfully-quoted/socrates-469399-b-c/ https://www.bartleby.com/lit-hub/respectfully-quoted/socrate...
- Exoristos 3y agoYou do realize that societies rise and fall, right? Greek culture was falling from its golden age around the time of that quote (regardless of who actually said or wrote it). Things would soon get so bad Plato recommended his disciples drop out of society into a sort of monasticism.
- jeffreyrogers 3y agoGen Z has fat tails, it will produce both great investors and great traders of all types.
- hintymad 3y agoHe did an interview with the Acquired Podcast a few weeks ago. Sharp as a whip. I wish I could be like him when I get old.
- swyx 3y agodid he ever coment on his longevity and health practices?
- qd011 3y agoDiet of coca-cola, sweets and dry humor.
- swyx 3y agoi find it funny how the bryan johnsons of the world take like 123 pills every day and optimize all the fun out of life and we still dont really really know if it works or not and then old geezers like munger and buffett do whatever the hell they want and outlive everybody
- paulpauper 3y agogenetics. they matter a ton . read the bios of really old people (100+ yrs old) and nothing really stands out beyond having a lot of family member who also lived a long time. I think a low-stress lifestyle helps a lot too.
- Difwif 3y agoNot to downplay everything you said but you really think Charlie Munger led a low stress life?
- infecto 3y agoCommenting only on their professional lives. Their investment strategy was generally not a high stress one, they clearly enjoy their work so one could assume their professional lives were generally low stress.
- pashariger 3y agoHe was a titan and a gentleman. RIP.
- jwmoz 3y agoDamn, time gets us all.
- chaostheory 3y ago“Show me the incentive and I will show you the outcome.”
- ra 3y agoCan we show the black banner, please?
- davidivadavid 3y agoWhen is it that "hackers" and people into doing risky businesses started getting so into in the most boring, most conservative investor of all time? That tells you enough about how this whole segment of the population jumped the shark and just started worshiping the same version of success as Wall Street. The day HN shows a black banner for him, that site is officially over.
- kypro 3y ago> When is it that "hackers" and people into doing risky businesses started getting so into in the most boring, most conservative investor of all time? I won't comment on the general sentiment of your comment, but I will take exception to your characterisation of Munger as "the most boring, most conservative investor of all time". Munger throughout his life Munger came up with many interesting (and sometimes controversial) ideas, he even made some fairly risky speculative investments. For example just in recent history he was looking to invest in building windowless dorms to much push back and outrage. He also made a very risky leveraged bet on Alibaba which was far from conservative.
- davidivadavid 3y agoYup, the shitty dorm is indeed the one thing that stands out, of recent memory. Not sure that helps his case. That he made one uncharacteristically risky bet isn't exactly proof of anything, either. I'll happily grant you that my language was hyperbolic, however.
- yreg 3y agoY Combinator is a business incubator, of course investing is relevant here.
- davidivadavid 3y ago
- carabiner 3y agoAlso responsible for the windowless college dorm: https://news.ycombinator.com/item?id=29038356 https://news.ycombinator.com/item?id=29038356
- bagful 3y agoMay his afterlife be exactly as comfortable as his idea of a dorm room
- davidivadavid 3y agoThat tells you about as much as you need to know about the guy, doesn't it? Incredibly successful, and yet a penny pinching tasteless bore until the bitter end. At least "robber barons" of the past built things that looked good. That he's worshiped around these parts of the internet is truly embarrassing and sometimes makes me question how I ended up here.
- kypro 3y agoI actually agreed with his reasoning on this and don't think it was motivated by greed at all. Firstly it would have been cheaper for the students. But secondly and more importantly, the buildings did have windows, it was only the dorms themselves which didn't, but the reasoning for this was that were primarily built for sleeping so he argued they didn't need windows. And not requiring windows meant that each student would get their own room and would not need to share. The building was designed so that when not sleeping the students would make use of the communal areas which did have windows. You don't have to like it, but it wasn't a completely stupid idea. The main problem really was just that the idea of a billionaire who wanted to build dorms without windows to save on development costs was too tasty of a story for the media to not run with.
- _zoltan_ 3y agohave you ever been to a dorm? do you think people just sleep there? especially a couple thousand people?
- bobberkarl 3y agoTaught many with few words.
- gverri 3y agoHe leaves behind a legacy greater than most intellectuals of his time. He has profoundly touched many lives and I am forever grateful for his existence on this earth. Thank you for all the wisdom Charlie, you will be deeply missed.
- tsunamifury 3y ago[flagged]
- nojito 3y ago>stoicism and sit on your money pile The only reason they had so much cash is that they could not deploy it fast enough to generate value.
- DontchaKnowit 3y agoThis is a really uncharitable take and sounds to me like basically just jealousy. What exactly is so immoral about What Charlie and Warren have done?
- tsunamifury 3y agoI think the most charitable take was they rode the longest American bull market in history with dead simple buy and hold strategies. Many of which would not pay out today while holding companies that gave minority groups diabetes and tried to restrict water distribution to th me third world. I can’t believe people here think these were good smart guys. They were assholes with a folksy facade.
- deleted 3y ago[deleted]
- 4death4 3y agoThey pioneered the modern private equity playbook. Ultimately, they're largely responsible for transitioning the economy based on driving productivity through innovation, to driving "productivity" (if you can call it that) through financial engineering. Absolute evil.
- divbzero 3y agoThe Berkshire Hathaway annual meeting will never be the same. As we previewed in 2020, Buffett without Munger is still illuminating but not nearly as dynamic.
- openquery 3y agoWhat a giant of a man. Thanks Charlie your wisdom and clear thinking. I hope I learnt something from your writings. You will be missed.
- rickreynoldssf 3y agoI always remember him saying "I always tried to find ways to kill my pilots" referring to his days as a meteorologist in World War 2. This is in reference to "Reverse Thinking", the way I approach all my projects by trying to wreck them from the start and shipping once I can't.
- bitshiftfaced 3y agoI particularly liked his saying that went something like, "before you invest in a company, you should understand and be able to make the argument against the investment better than those who hold that position."
- eddtries 3y agoI read they use that methodology at Google X - the team take pride in proving ideas can't work by doing the hardest part first. There's some good blog posts on how this works and how they kill projects fast.
- mrazomor 3y agoI don't interpret it the same way as you. My understanding of Munger's intent: find the issues and risks that you are not aware of, by looking at the project from a different perspective. What Google X (and many others) do: do the most risky parts first, so you fail fast and minimize the wasted effort (save time and money by not doing the less risky parts first, in case the project is doomed).
- sdwr 3y agoIts exactly the same thing, in that it guards against wishful thinking by making you finish your dinner before you have dessert.
- mrazomor 3y agoI don't see it that way. Munger gives a tool to identify new (yet unknown) risks. Seeking what needs to be addressed so that the project doesn't fail. The other thing is a tool to help us deal with the known risks (derisking the project, identifying the complete blockers). Checking if the project is doomed, and should not receive more investment. I see it as two very different things from the project management perspective.
- bryanwbh 3y agoRIP Charlie, you have given so much to so many out there. Thanks for the fish.
- PedroBatista 3y agoCharlie Munger is my spirit animal. The amount of wisdom about society and life in general that man has delivered over the years rivals his own financial accomplishments.
- grezql 3y ago[dead]
- taytus 3y ago"Every time you hear EBITDA, just substitute it with bullshit." Absolute legend. RIP.
- malwarebytess 3y agoAs smart and rich as this guy was, and I know very little of him besides his critique of cryptocurrencies, I wonder about his empathy. That dorm design...https://youtu.be/VKXOQ8duhRg https://youtu.be/VKXOQ8duhRg
- everybodyknows 3y agoThe lack of windows sucks, but there's another term in the equation -- one the high-brow architecture critics I guess think beneath their dignity to mention. And that is: All rooms have a single bed, meeting the prime requirement for a young couple's first "love nest". Furthermore I'll argue that "sexiling" is really a gross injustice, and damaging to the education of the sexilee, as if he hadn't already been dealt a pile of misery. The Munger dorm then shows great social wisdom and benevolence in its proactive elimination of sexiling through architectural design.
- tim333 3y agoThe reason for the design was to put the communal areas by the windows so people would come out and mix. It seems popular at the one they built https://youtu.be/LzsjKdGehb0 https://youtu.be/LzsjKdGehb0
- michaelcampbell 3y agoThis sounds like an academic version of the "return to office" mandates.
- zafka 3y agoIt saddens me that he is gone, but I am glad he lived the long good life that he did. I first started reading his "Psychology of human misjudgment" around 10 years ago. I try to reread it every year. Whenever I see a young person who appears to have a little drive, I recommend that they read the speech. I really wish I had run across these concepts when I was in my early twenties, but I am still grateful that Charlie packaged them up for me. I hope everyone here takes some time and reviews this list, and then takes up the assignment and peruse some of the other literature in the field.
- ur-whale 3y agoCurious to known where he decided his fortune should go after his death.
- johnwheeler 3y agoI think he already donated most of it
- naveen99 3y agoDoubt it. He believed Amazon and walmart did more good than any charity. Also 8 children could probably use a few hundred million each and still not be billionaires.
- EVa5I7bHFq9mnYK 3y ago[flagged]
- syrusakbary 3y agoI loved this compilation of his funniest moments: https://www.youtube.com/watch?v=gHLA64sh4WE https://www.youtube.com/watch?v=gHLA64sh4WE
- RayVR 3y agoOne of my favorite quotes from Munger > It’s very important to not put your brain in chains too young by what you shout out. From his speech at Harvard in '95, he's talking about how loudly proclaiming something, shouting about it even, locks our brains into this, making us resistant to contradictory ideas, regardless of evidence. This observation has felt more and more important over the last decade.
- johnwheeler 3y agoWhich he also called, “pounding it in”
- martin82 3y ago[flagged]
- kshahkshah 3y agoWhat evidence?
- al_borland 3y agoIt still seems too early to declare Bitcoin a success. It’s still primarily a tool for speculation. Buffett and Munger aren’t/weren’t fans of non-productive assets that fell into the realm of the greater fool theory.
- tophi 3y agoYes, how sad… such a tragic ending.
- tedmiston 3y agoA bit of a stretch to say Charlie didn't practice what he preached just because he [an extremely well known value investor] did not invest in cryptocurrencies [a market driven by hype and speculation and with unclear underlying intrinsic value].
- jononomo 3y agoBitcoin is on its way to $0, probably within 40 years.
- missedthecue 3y agoIn 1949, Charlie Munger was 25 years old. He was hired at the law firm of Wright & Garrett for $3,300 per year, or $42,000 in inflation-adjusted dollars. A few years later, in 1953, Charlie was 29 years old when he and his wife divorced. He had been married since he was 21. Charlie lost everything in the divorce, his wife keeping the family home in South Pasadena. Munger moved into “dreadful” conditions at the University Club and drove a terrible yellow Pontiac, which his children said had a horrible paint job. According to the biography written by Janet Lowe, Molly Munger asked her father, “Daddy, this car is just awful, a mess. Why do you drive it?” The broke Munger replied: “To discourage gold diggers.” Shortly after the divorce, Charlie learned that his son, Teddy, had leukemia. In those days, there was no health insurance, you just paid everything out of pocket and the death rate was near 100% since there was nothing doctors could do. Rick Guerin, Charlie’s friend, said Munger would go into the hospital, hold his young son, and then walk the streets of Pasadena crying. One year after the diagnosis, in 1955, Teddy Munger died. Charlie was 31 years old, divorced, broke, and burying his 9 year old son. Later in life, he faced a horrific operation that left him blind in one eye with pain so terrible that he eventually had his eye removed. But by the time he was 69 years old, he had become one of the richest 400 people in the world, been married to his second wife for 35+ years, had eight children, and countless grandchildren. Beyond investing and business, Charlie teaches us about resilience, dignity, and life well lived. Rest in peace to a legend.
- deleted 3y ago[deleted]
- talldatethrow 3y agoIs this a copy paste of a blogger that wrote an article about why you shouldnt give up, because charlie didn't either. Are you the author? It feels weird to take 95% of someones article and just post it. https://www.joshuakennon.com/if-charlie-munger-didnt-quit-when-he-was-divorced-broke-and-burying-his-9-year-old-son-you-have-no-excuse/ https://www.joshuakennon.com/if-charlie-munger-didnt-quit-wh...
- harryVic 3y agoIt's just a comment, they're not stealing someone's original research. I for one appreciate that they shared the story. Rip charlie munger
- zaphod420 3y agoI only just recently discovered how awesome of a person he was in the past few months. I've really enjoyed absorbing his wisdom. Sad there will be no new content :(
- DoubleDerper 3y ago[flagged]
- ejfdlkjalkj 3y ago[flagged]
- DoubleDerper 3y agoHe literally had a fiduciary duty as a board member to his companies to maximize profits above all else, including human decency. The windowless dorms were intended to minimize the cost of construction of the housing his donated millions subsidized.
- fdalkjkjl 3y ago[flagged]
- croes 3y agoThat billionaires prioritize profit over people is just a fact and nothing woke. Otherworldly they wouldn't be billionaires in the first place.
- berserk1010 3y agoso much envy and jealousy over someone's wealth that you must find ONE disagreeable/controversial thing from that person (Charlie munger was probably hard to do so for) and do some character assassination. maybe you should improve your way of thinking, you might live a healthier live.
- croes 3y agoNo billionaire earned his money but got it by exploiting others, especially if you make your money through investments. If you point that out it's always called envy and jealousy.
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- bioinformatics 3y ago[flagged]
- euzi 3y agoYou cannot spend a billion in one century if you spend $25K per day, I cannot understand why a billionaire will work until the age of 99..
- zeroonetwothree 3y agoProbably because it’s fun.
- x86x87 3y agobillionaires are post-money. they don't get the normal thrills you and me get when we are spending money. now it becomes about "making an impact", about leaving a legacy, about being remembered.
- christophilus 3y agoFor the same reasons writers write or painters paint until they die. They love what they do.
- stockboss 3y agoAlmost any human being can live extremely comfortably with no financial worries at around $30m net worth. After $30m, it becomes a game of pride, ego and high scores.
- mediumsmart 3y agobecause the money is collateral damage, its not the reason for working
- callmeal 3y ago> I cannot understand why a billionaire will work until the age of 99.. It's that insane obsession with collecting more of what they love: $$$.
- creepy 3y agoRest in Peace Mr.Munger.
- soumid 3y agoCharlie Munger is great.
- miniberni 3y ago[dead]
- SIWEN 3y agoCharlie Munger is great.
- datadrivenangel 3y ago"The best thing a human being can do is to help another human being know more"| Rest in Peace Charlie.
- mindhash 3y agoThis saddens me. I recently started psychology of human misjudgement. Someone in thread asked what’s big deal about him. what did he achieve My answer would be I never tried to look into his achievements or did care about them. The man was genuinely curious, humble and a geek. He constantly published his ways of thinking. I enjoyed how he thought about things, how i could relate self correct based on it.
- markbudada 3y agoyou make a good comment, humble, curiosity, geek, 3 excellent traits of Munger
- coolThingsFirst 3y agoLol
- lisa611 3y ago[flagged]
- spacetimeuser5 3y agoPoor Charlie didn't invest enough into the longevity and anti-aging biotech.
- netfl0 3y agoReal classy.
- malermeister 3y agoThe thing I will always remember Munger for was his downright cruel psychological torture on students: https://www.youtube.com/watch?v=KXd7Y3HvUj4 https://www.youtube.com/watch?v=KXd7Y3HvUj4
- mdp2021 3y ago> Assume life will be really tough, and then ask if you can handle it. If the answer is yes, you've won. > Is there such a thing as a cheerful pessimist? That's what I am. ~~~ Charlie Munger -- It is a disservice to salute the Man by picking just a partial idea, in the rich amount he was so kind to share, yet there is something fundamental in that message above. It was Warren Buffett that said «You should write your obituary and try and figure out how to live up to it», and this seems very relevant with Charlie Munger. We are grateful for all the good teaching.
- warthog 3y agoAnyone who had the chance to work with him?
- deleted 3y ago[deleted]