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Charlie Munger has died

berkshirehathaway.com

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Re: Charlie Munger has died

#331

Post by marcus_holmes »

pfannkuchen wrote: post #304
marcus_holmes wrote: post #293

Earlier quoted context omitted.

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.

Well then they're clearly getting it wrong, as this shows; you cannot support a family and buy a house on a single $42K income in 2023. Any statistics that suggest you can are just plain wrong.

Re: Charlie Munger has died

#332

Post by obmelvin »

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…

I really don't understand the notion that people should be able to just get over their child dying, but addiction is something you can't just get over?

I'm not trying to downplay addiction, but let's be real - people can overcome addiction, but we can't bring back our dead family members.

Re: Charlie Munger has died

#333

Post by vasco »

pilgrim0 wrote: post #249
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.

That’s a great advice. I happened to learn that naturally and I’m thankful I did. Proclaiming things also creates expectations from others and people generally tend to be prone to fulfill those outside expectations. This effect seems to be particularly magnified by social media, where everyone assume a certain persona online. Seems to be at the root of bigotry, too. How can you change your mind if your entire network…

I don't think you understand the quote if you're focused on being true to yourself. The whole point is your opinions change over time, there's no true self. Just keep a curious humble mind and keep going.

If there's something to be true to and then you'd find it, now you'd have validation to act shitty towards others in the name of being true to yourself. That's the type of brain chains "this is how I am" he means.

Re: Charlie Munger has died

#335

Post by kennethh »

raffraffraff wrote: post #323
whywhywouldyou wrote: post #306

Earlier quoted context omitted.

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.

Is "everything" the family home? In a divorce it's much more about the kids than it is about the wife. The kids get stability in a divorce. Where possible kids live in their home with their primary carer, don't have to move to a new school etc. Why is the wife the primary carer? It starts because the husband can't get pregnant or breastfeed. It's supplemented by the likelihood that he's already the highest earner, wh…

Divorce is about people not wanting to live and share their life together, it is a union where both parties should benefit (why else go into such an agreement). In many cases after a divorce the man does not get to see his children due to the women getting more money the less the man take care of the children. This is really bad for the children, research show that children do a lot worse the less they have contact with both parents. In the modern western society (Europe/USA) the men get the worst deal and this show in almost every respect (93% men in prisons, double the amount of drug users, single custody (80/20). Women also live longer, die less often of work relegated injuries. In general women gets taken care of by society to a greater extent than men.

Re: Charlie Munger has died

#336

Post by jesterson »

KerryJones wrote: post #19

Charlie Munger is one of the closest things to a "hero" I've ever had. Others have named them, but Poor Charlie's Alamanack or his Psychology of Human Misjudgement are both incredible. I've made a point of seeing him at Berkshire Hathaway's annual meeting every last few years. He had many trials in his life but lived it well. His wit and wisdom will be missed.

Would you mind to explain why?

Arguably the guy did nothing worthy of admiration. Sure he managed to multiply cashflow, but on my books that doesn't stand nearly to definition of hero.

Don't get me wrong - I enjoy his books and interviews perhaps like everyone else. He was incredibly smart character, no doubt about that. But hero?

Not trolling, genuinely curious.

Re: Charlie Munger has died

#337

Post by Kaibeezy »

therealdrag0 wrote: post #245
Kaibeezy wrote: post #179

Earlier quoted context omitted.

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…

Get off your high horse. You don’t know what everybody wants. To choose between having a dorm mate or having no windows I would absolutely pick no windows.

It’s not a high horse, it’s an educated horse. If you want to live in a box, go for it. Students, especially poor ones, don’t always have a meaningful choice in the matter.

Why not make the coffin-rooms half height too? People sleep lying down, right? All that wasted space.

Re: Charlie Munger has died

#338

Post by ofir_rabanian »

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.

I love this quote! Truly makes sense and definitely encapsulates a lot of wisdom within it.

Re: Charlie Munger has died

#339

Post by apexalpha »

jesterson wrote: post #336
KerryJones wrote: post #19

Charlie Munger is one of the closest things to a "hero" I've ever had. Others have named them, but Poor Charlie's Alamanack or his Psychology of Human Misjudgement are both incredible. I've made a point of seeing him at Berkshire Hathaway's annual meeting every last few years. He had many trials in his life but lived it well. His wit and wisdom will be missed.

Would you mind to explain why? Arguably the guy did nothing worthy of admiration. Sure he managed to multiply cashflow, but on my books that doesn't stand nearly to definition of hero. Don't get me wrong - I enjoy his books and interviews perhaps like everyone else. He was incredibly smart character, no doubt about that. But hero? Not trolling, genuinely curious.

Not OP but mr Munger and Buffet have also held steady course in an increasingly hype driven financial world.

And they've stayed course since the 60s!

For that alone they've become (cult) legends among small time investors. As a small time investor myself born in the 90s it is insane the amount of bullsh*t social media will push onto you regarding finance.

Their annual meetings where they answer questions are some of the only sane financial advice to be found on YouTube.

Re: Charlie Munger has died

#340

Post by Kaibeezy »

ta988 wrote: post #233
Kaibeezy wrote: post #179

Earlier quoted context omitted.

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…

I don't see any explanation of why in your opinion it is stupid, I would be interested to know one architect view on that.

Natural light, fresh air, second means of egress, bla bla.

The egregious thing is it tries to solve a complex problem by overweighting a single aspect. It’s like if you wanted to make a safer car by building it out of 500mm thick concrete. Oh, it’d be safe alright, but slow, wallowy, dangerous for others, poor gas mileage. Fast downhill, I guess. Wouldn’t be any better as an EV. It might be good for a few people, apparently.

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