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Charlie Munger has died

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Re: Charlie Munger has died

#181

Post by ravenstine »

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

Jack LaLanne died at 96 years old, yet my grandpa who's eaten tons of Taco Bell for most of his life is alive at just a hair from that age. I wonder what people will think about the obsession with "longevity" in the likely outcome of David Sinclair or Andrew Huberman dying in their 80s or earlier.

Re: Charlie Munger has died

#182

Post by pjscott »

stickfigure wrote: post #154
_zoltan_ wrote: post #137

Earlier quoted context omitted.

have you ever been to a dorm? do you think people just sleep there? especially a couple thousand people?

That's probably the whole point - they "just sleep" in their small single occupancy rooms and do most of their socializing in attractive common areas. If you're wondering how the kids are going to hook up - well, window or not, single-occupancy beats the hell out of literal room-mates, which was my dorm experience. And we sure as hell found a way. If you ask students whether they'd rather have a windowless private ro…

According to Munger that was, indeed, the whole point. His dorm design focused on making the common areas nice places where people would enjoy spending time, while optimizing the dorm rooms for bed-related activities. It seems like a reasonable strategy.

Re: Charlie Munger has died

#183

Post by davidivadavid »

yreg wrote: post #176
davidivadavid wrote: post #94

Earlier quoted context omitted.

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.

"Of course" the kind of investing Buffett and Munger do/did is the point here, not investing in general. Y Combinator is 1) early stage 2) tech. Neither of which are what Buffett and Munger cared about. You could make a good case that Buffett and Munger are the most "anti-tech" index around, almost a perfect YC hedge.

Re: Charlie Munger has died

#184

Post by yreg »

davidivadavid wrote: post #183
yreg wrote: post #176

Earlier quoted context omitted.

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

"Of course" the kind of investing Buffett and Munger do/did is the point here, not investing in general. Y Combinator is 1) early stage 2) tech. Neither of which are what Buffett and Munger cared about. You could make a good case that Buffett and Munger are the most "anti-tech" index around, almost a perfect YC hedge.

If it's the most anti-tech then it's relevant as well :)

Re: Charlie Munger has died

#185

Post by gumballindie »

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…

Wow. I never knew all this about Charlie Munger, thanks for sharing. It’s rare gems like him that give me confidence that sometimes against all odds one can succeed. Also I appreciate his love for his family. That’s by far the most valuable asset one posses - if not the only.

Re: Charlie Munger has died

#186

Post by AmericanChopper »

andrewmutz wrote: post #145
chollida1 wrote: post #55

Earlier quoted context omitted.

> 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 icons. It had simply become synonymous with investing at large. This is passive investing, not value investing. Value investing is very much active investing, otherwise how would you select the undervalued assets? Value inve…

The term "value investing" is confusing because it is used in two different ways: The first way it's used is to describe buying stocks that are cheap relative to their current financial characteristics (price to book, price to earnings, price to FCF, etc). This approach is usually contrasted with "growth", which would refer to investing in companies with a compelling thesis and bright future ahead of them. A second w…

You’ve just described the same thing twice. You have a model for how to value a company, and you look for examples of market inefficiencies. Buffet/Munger initially took advantage of the fact that there used to be much more opportunity to find these inefficiencies, because information was used much more inefficiently (via mountains of paper records). That’s not the case any more with huge amounts of digital information available along with the technology to process it as quickly as it becomes available.

Re: Charlie Munger has died

#187

Post by bobobob420 »

totaldude87 wrote: post #178
harryVic wrote: post #175

Earlier quoted context omitted.

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

[flagged]

Re: Charlie Munger has died

#188

Post by sega_sai »

alexb_ wrote: post #9

Everybody should read his speech, "The Psychology of 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.

Thank you for the link, it is an interesting read, and has a lot of funny quotes, stories and some interesting ideas. In the beginning I felt it was insightful, but by the end of the read I felt it was just a bunch of opinions based on personal anecdotes. (disclaimer -- I'm obviously much less wealthy and successful than Munger)

Re: Charlie Munger has died

#189

Post by johnwheeler »

RayVR wrote: post #157

One 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.

Which he also called, “pounding it in”

Re: Charlie Munger has died

#190

Post by infecto »

Difwif wrote: post #160
paulpauper wrote: post #105

Earlier quoted context omitted.

genetics. 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.

Not to downplay everything you said but you really think Charlie Munger led a low stress life?

Commenting 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.
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