The Abominable No Man
The Investor's Podcast Network
The Investor’s Podcast Network is a business podcast network. Our main show “We Study Billionaires” has 150M+ downloads.
By Matthew Gutierrez · November 24, 2024
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It’s hard to believe, but this week marks one year since Charlie Munger’s death. The investing legend lived a rich life to 99, leaving fingerprints all over the investing community.
So today, we'll share some of Munger’s most timeless life and investing lessons, all worth revisiting over and over. Reply to this email to let us know which lessons speak to you the most.
Also: Did you know Warren Buffett playfully referred to Munger as “The Abominable No-Man” because Munger so frequently turned down potential investments?
All this, and more, in just 5 minutes to read.
— Matthew
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Reflecting on the Great Charlie Munger
Warren Buffett's right-hand man at Berkshire Hathaway, Charlie Munger, wasn't just one of the world's most successful investors—he was a modern-day philosopher whose wisdom transcended finance.
Until his passing in late 2023 at age 99, Munger offered timeless insights about life, learning, and decision-making with a rare combination of wit, clarity, and brutal honesty that made his words resonate far beyond Wall Street.
What made Munger extraordinary wasn't his investment acumen but his systematic approach to wisdom itself. He was a voracious reader (book always in hand) who drew insights from multiple disciplines—psychology, history, physics, biology—creating a "latticework of mental models" to understand the world better. While many successful people guard their secrets, Munger took the opposite approach, openly sharing his principles for better thinking and decision-making through speeches, interviews, and shareholder meetings.
His quotes, often delivered with characteristic dry humor, cut through complexity to reveal fundamental truths about human nature, success, and the art of living well.
They serve not just as guidance for investors, but as a practical philosophy for anyone seeking to make better decisions and live a more thoughtful life. Here are some of his most impactful insights, compiled below:
“I sought good judgment mostly by collecting instances of bad judgment, then pondering ways to avoid such outcomes.”
“I think a life properly lived is just learn, learn, learn all the time.”
"The safest way to try to get what you want is to try to deserve what you want."
"No wise pilot, no matter how great his talent and experience, fails to use a checklist."
"If you're going to be an investor, you're going to make some investments where you don't have all the experience you need. But if you keep trying to get a little better over time, you'll start to make fewer mistakes."
"Live within your income and save so that you can invest. Learn what you need to learn."
"If all you succeed in doing in life is getting rich by buying little pieces of paper, it's a failed life. Life is more than being shrewd in wealth accumulation."
"Life will have terrible blows in it, horrible blows, unfair blows. And some people recover and others don't. And there I think the attitude of Epictetus is the best. He said that every missed chance in life was an opportunity to...
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3 天前I can't wait to hear this The Investor's Podcast Network! One of my favorite quotes from Munger is, 'The big money is not in the buying or the selling, but in the waiting.' It’s about the power of patience—not just in markets, but in all life pursuits. He also emphasized lifelong learning, saying, 'Develop into a lifelong self-learner through voracious reading; cultivate curiosity and strive to become a little wiser every day.' I take a lot of Munger's teachings in my financial literacy campaigns, my content and my financial wellbeing workshops. Keep raising much-needed awareness! Here's my video when he passed: https://www.tiktok.com/@finance_4_u/video/7307168637067054368