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Charlie Munger has died

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Re: Charlie Munger has died

#251

Post by Exoristos »

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!"

You do realize that societies rise and fall, right? Greek culture was falling from its golden age around the time of that quote (regardless of who actually said or wrote it). Things would soon get so bad Plato recommended his disciples drop out of society into a sort of monasticism.

Re: Charlie Munger has died

#253

Post by fdalkjkjl »

DoubleDerper wrote: post #221
ejfdlkjalkj wrote: post #202

Earlier quoted context omitted.

[flagged]

He literally had a fiduciary duty as a board member to his companies to maximize profits above all else, including human decency. The windowless dorms were intended to minimize the cost of construction of the housing his donated millions subsidized.

[flagged]

Re: Charlie Munger has died

#254

Post by x86x87 »

berserk1010 wrote: post #230
croes wrote: post #225

Earlier quoted context omitted.

No billionaire earned his money but got it by exploiting others, especially if you make your money through investments. If you point that out it's always called envy and jealousy.

"No billionaire earned his money" only the young and feeble minded live in absolute "exploiting others...if you make your money through investments" the covid shot that saved your life was supported by investments

I don't think you understand how much one billion is.

to help you out: 1 million seconds is ~11 days. 1 billion seconds is ~31 years.

Re: Charlie Munger has died

#257

Post by x86x87 »

euzi wrote: post #239

You cannot spend a billion in one century if you spend $25K per day, I cannot understand why a billionaire will work until the age of 99..

billionaires are post-money. they don't get the normal thrills you and me get when we are spending money. now it becomes about "making an impact", about leaving a legacy, about being remembered.

Re: Charlie Munger has died

#258

Post by keepamovin »

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…

This is great, thanks for the write up on this sad news and the life of a laudable man. Where did you pull that from by the way?

Re: Charlie Munger has died

#259

Post by tsunamifury »

DontchaKnowit wrote: post #194
tsunamifury wrote: post #121

Earlier quoted context omitted.

[flagged]

This is a really uncharitable take and sounds to me like basically just jealousy. What exactly is so immoral about What Charlie and Warren have done?

I think the most charitable take was they rode the longest American bull market in history with dead simple buy and hold strategies. Many of which would not pay out today while holding companies that gave minority groups diabetes and tried to restrict water distribution to th me third world.

I can’t believe people here think these were good smart guys. They were assholes with a folksy facade.

Re: Charlie Munger has died

#260

Post by jpamata »

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

RIP Charlie

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

I guess lots of people find him interesting (see HN guidelines)

Charlie (and Buffett) are often recommended here for their mental models as their approach to investing and finance are very transferrable in startups/engineering. At the end of the day, large scale software engineering is mostly about managing risk, strategy, and corporate finance/value. Often, Poor Charlie's Almanack is recommended by my top Staff+ colleagues.

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