Charlie Munger: Gone way too Soon
Broadway Capital Management Johana Sinclair and Brian Foote, CFA
Analyst
We lost an intellectual hero this week.
What have YOU learned from him? In less than a minute of brainstorming and typing, I can give you eleven:
? Avoiding Envy
? Reading a lot (be known as a book with legs)
? Borrowing from many disciplines
? Integrity above all else
? Knowing what happens mixing raisins with turds
? Making friends with the dead, like Benjamin Franklin and so many others
? Paying up for quality (even Mr Buffett learned for this)
? Picking the right partners
? Looking past consensus
? Questioning Incentives
? Invert—always Invert
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As I am half his age and daily trying to cram in his wisdom, not only for my investors but also for myself.
It’s not just investing wisdom we got from Charlie Munger—how to pick stocks--but life lessons. How to learn, how to question, how to “soldier on”. And…how brilliantly a possibly sarcastic, but always cheerful one liner can capture EVERYTHING.
Everyone knows how he convinced his friend Warren to pay up for See’s. Or how, in his 80s, he had the flexibility to recognize and back a Chinese entrepreneur—in technology. These defied traditional approaches.
Like his hero, Benjamin Franklin, he had—and encouraged—a multi discipline approach.
His one liners are the stuff of legend.
Do yourself a favor and read the many Charlie Munger quotes you can find his many devotees (including yours truly) have posted.
Or watch his final interview:
CNBC also compiled past Berkshire meetings
I tell mentees to watch them in lieu of an MBA! Binge watch these, and I promise you, you’ll come away a much better investor.
“Live life backwards”, one of his final quotes, is one I will reflect on daily.