TLDR

Charlie Munger wasn’t your average billionaire. His whit and wisdom made him as famous as his investing success. They aren’t making another Charlie.

Charlie has always been my favorite out of the Buffett / Munger dynamic duo. I never actually knew him or met him, but I’ve learned a lot from Charlie. His lessons are timeless and applicable to everyone.

The Whole Lesson

On November 28 2023, the world lost one of the most prolific titans of finance, Charlie Munger. If you don’t know Charlie, you should.

I’ve always been attracted to Charlie for his quick whit, outspoken nature and white hot one-liners. I wish there were more videos of him when he was younger.

Although Charlie was technically considered Warren Buffett’s #2, he’s #1 in my heart. Charlie was one of a kind in so many ways and I will be watching videos of him for years to come.

In tribute to him, I wanted to share a few of my favorite lessons from the "abominable no-man.”

If you don’t agree with me on the below, I’ll borrow a line from Charlie, “I’m right and you’re smart so think on it a bit and you’ll eventually agree with me.”

What a ledged.

1. Deliver to the world what you want on the other end. It’s not enough to ask for the things you want. You need to be a deserving person of them.

2. Be modest no matter how rich and successful you get.

3. Have a passion for keeping things simple.

4. The best thing you can do is find your unfair advantages and combine them with what you are innately interested in.

5. Have reasonable expectations. The lower your expectations, the less you will be disappointed.

6. Take the good and bad of life with a certain amount of stoicism.

7. The way to get a good partner is to be a good partner.

8. You are entitled to not have an opinion on a subject if you don’t know both sides of it.

9. Opportunity comes to the prepared mind.

10. The ones who win are learning machines.

11. Learn from Mozart. Don’t overspend your income and be full of jealousy and resentment.

12. The vivid extremes mislead you from the true reality.

13. A person’s role models tell you all you need to know about who that person is and who they want to be.

14. The people who really know things don’t talk as much as the people who think they know things.

15. It takes deliberate practice to actually use the knowledge you have.

16. Find reliable friends and be reliable for others.

17. Easy money always attracts excess.

18. Envy kills all happiness.

19. Self pity is not going to improve your situation. When you avoid it, you get an immediate advantage over everyone else.

20. It’s always been hard and it’s not getting easier.

Rest in peace Charlie.

Ginger P.

The Ginger Professor explicitly represents the personal thoughts and views of the author only. It does not reflect the thoughts or views of any current or former employer or client of the author. All information referenced and contained in the article enclosed is for informational purposes only and does not represent advice of any kind.