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Charlie Munger has died

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Re: Charlie Munger has died

#171

Post by talldatethrow »

missedthecue wrote: post #166

In 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 Univer…

Is 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-wh...

Re: Charlie Munger has died

#172

Post by nojito »

tsunamifury wrote: post #121
gverri wrote: post #98

He 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.

[flagged]

>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.

Re: Charlie Munger has died

#173

Post by antod »

swyx wrote: post #96
qd011 wrote: post #86

Earlier quoted context omitted.

Diet of coca-cola, sweets and dry humor.

i 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

Heh, I had Bryan Johnson and Brian Johnson mixed up for a while there.

Re: Charlie Munger has died

#174

Post by sib »

WalterBright wrote: post #167
paxys wrote: post #46

Earlier quoted context omitted.

You have to remember that Bogle/Munger/Buffet all gained prominence when value investing wasn't a thing and investing of any kind was wildly out of reach for the common man. Today anyone can go online and buy VTI in minutes. Every financial advisor and 401k plan recommends index funds by default, and it is how the vast majority of people and organizations store their wealth. It doesn't need any more cheerleaders or i…

> investing of any kind was wildly out of reach for the common man Oh baloney. I signed up for a Schwab account and started buying stocks at my first job long before the internet. My dad started buying stocks in the 1940s on his military pay (never much). Elevator boys were famously buying stocks in the 1920s. All the "reach" required was some get-up-and-go to sign up for a brokerage account. It didn't cost anything.…

Sorta?

Historically you typically bought shares in blocks of 100 and the transaction fees were also meaningful.

You couldn't easily buy 1 share of a $20 stock. If you had to buy 100 shares @ $20, that's $2,000 - in 1970 that was a lot of money.

Now, of course, you can buy fractional shares with no transaction fees. (Ignoring things like payment for order flow, etc.)

Re: Charlie Munger has died

#175

Post by harryVic »

talldatethrow wrote: post #171
missedthecue wrote: post #166

In 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 Univer…

Is 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-wh...

It's just a comment, they're not stealing someone's original research. I for one appreciate that they shared the story. Rip charlie munger

Re: Charlie Munger has died

#176

Post by yreg »

davidivadavid wrote: post #94
ra wrote: post #60

Can we show the black banner, please?

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? 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.

Y Combinator is a business incubator, of course investing is relevant here.

Re: Charlie Munger has died

#177

Post by atentaten »

sfsylvester wrote: post #47
bloodyplonker22 wrote: post #41

Earlier quoted context omitted.

That 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.

"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!"

This quote can't be attributed to Socrates. It's most likely from a satirical play: https://www.bartleby.com/lit-hub/respectfully-quoted/socrate...

Re: Charlie Munger has died

#178

Post by totaldude87 »

harryVic wrote: post #175
talldatethrow wrote: post #171

Earlier quoted context omitted.

Is 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-wh...

It's just a comment, they're not stealing someone's original research. I for one appreciate that they shared the story. Rip charlie munger

Citation is important when you are not writing a single word on your own , credit where it's due

Re: Charlie Munger has died

#179

Post by Kaibeezy »

kypro wrote: post #122
davidivadavid wrote: post #97

Earlier quoted context omitted.

That 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.

I 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…

Speaking as a person with an architecture degree, it is, in my opinion, plainly a completely stupid idea. I cannot imagine one person I have ever met with similar professional training who would consider it anything other than completely stupid.

As a person who hasn’t paid any attention to his corner of the finance sector, this horrible dorm was my introduction to the man. My immediate conclusion was that he rose to the level of his incompetence. I may yet read his speech on decisionmaking biases, but it will be with a degree of skepticism about whether it is cooked in its own juices.

Re: Charlie Munger has died

#180

Post by trompetenaccoun »

x86x87 wrote: post #129
auchenberg wrote: post #10

RIP Charlie

Why? What does this dude have to do with Hacker News?

Every 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.

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