Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Charlie Munger has died

berkshirehathaway.com

Post reply on HN
Print view View original

301–310 of 454 posts

Re: Charlie Munger has died

#301

Post by monero-xmr »

TerrifiedMouse wrote: post #296
monero-xmr wrote: post #289

Earlier quoted context omitted.

Family first, followed by friends. It is sad to me that so many young people are voluntarily choosing not to have children. They are the ultimate - the reason we exist, the mechanism for leaving a legacy, the most beautiful thing on earth. Family is everything

> It is sad to me that so many young people are voluntarily choosing not to have children. I think many people feel they are incapable of taking care of offspring. Better not to bring into this world children you cannot care properly for.

The people who think they are incapable of caring for children, and then choose not to, are by and large people who are thoughtful and deliberative, who are the exact people who would be good at raising children.

Re: Charlie Munger has died

#302

Post by TerrifiedMouse »

rugger wrote: post #116
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.

[flagged]

Next time put the “Summary by ChatGPT” at the top so we can decide for ourselves if we want to waste our time reading it.

Also this is such a low effort post … feeding text into an algorithm and pasting the results.

Re: Charlie Munger has died

#303

Post by naveen99 »

johnwheeler wrote: post #191
ur-whale wrote: post #138

Curious to known where he decided his fortune should go after his death.

I think he already donated most of it

Doubt it. He believed Amazon and walmart did more good than any charity. Also 8 children could probably use a few hundred million each and still not be billionaires.

Re: Charlie Munger has died

#304

Post by pfannkuchen »

marcus_holmes wrote: post #293
paulpauper wrote: post #276

Earlier quoted context omitted.

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. This shows how much white collar salaries have really exploded over the past few decades, especially since 2010 after financial crisis bottom. White collar work is more lucrative than ever even accounting for inflation and student loan debt. The media and ppl on Twi…

Also remember that he was able to support a stay-at-home wife and family and buy a house on that salary. The direct comparison of inflation ignores that the relative cost of things also changes. Our cost of living is much higher than it was post-war. But we get to have decent sanitation, phones and computers, better medicine, etc.

I’m not sure what you mean by direct comparison here. I believe the official government inflation stats do consider the relative cost of things, otherwise they would be totally nonsensical for the reason you mentioned.

Re: Charlie Munger has died

#305

Post by 4death4 »

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?

They pioneered the modern private equity playbook. Ultimately, they're largely responsible for transitioning the economy based on driving productivity through innovation, to driving "productivity" (if you can call it that) through financial engineering. Absolute evil.

Re: Charlie Munger has died

#306

Post by whywhywouldyou »

steve_adams_86 wrote: post #299
corethree wrote: post #288

Earlier quoted context omitted.

[flagged]

The women in my life have all played a significant role in my ability to build my career. For some, like my mother and my kids mom, this incurred some cost to their careers. I wouldn’t be where I am without them, therefore in a sense yes, they did work for my income. Often in hidden and yet incredibly important, valuable ways. My mom died, but if she were still around I wouldn’t think twice about taking care of her.…

What, exactly, are you talking about? The OP is referencing the fact that the wife got _everything_ in the divorce. I'd be curious to understand why "facilitat[ing] his success in some way over the better part of a decade" entitles her to everything he ever made.

Re: Charlie Munger has died

#307

Post by JumpCrisscross »

4death4 wrote: post #305
DontchaKnowit wrote: post #194

Earlier quoted context omitted.

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?

They pioneered the modern private equity playbook. Ultimately, they're largely responsible for transitioning the economy based on driving productivity through innovation, to driving "productivity" (if you can call it that) through financial engineering. Absolute evil.

> pioneered the modern private equity playbook

No? That began with the LBO boom meeting the management consulting wave. Berkshare Hathaway are the last vestige of the conglomerate era if anything.

Re: Charlie Munger has died

#308

Post by trogdor »

gist wrote: post #271
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...

Yes. It is a post by the head of a small investment firm simply trying to align themselves with the halo of Charlie Munger. Also this in particular is particularly ridiculous: "It’s a fair bet that your present troubles pale in comparison. Whatever it is, get over it. Start over. He did it. You can, too." First that's quite a bit of an assumption. After all divorce and a medical problem (like Charlie had) as well as…

>Many problems you can't just 'get over'. (Addiction and mental health issues holding you back are just 2 examples)

You can’t just wish away addiction, but many people can get help and leave addiction in their past. I did.

Re: Charlie Munger has died

#309

Post by sdo72 »

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…

What a legend, thanks for the summary!

Re: Charlie Munger has died

#310

Post by [deleted] »

tsunamifury wrote: post #259
DontchaKnowit wrote: post #194

Earlier quoted context omitted.

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.

[deleted]
Post reply on HN