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Charlie Munger has died

berkshirehathaway.com

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Re: Charlie Munger has died

#371

Post by AussieWog93 »

jesterson wrote: post #360
apexalpha wrote: post #339

Earlier quoted context omitted.

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…

That's all great, but does it qualify for a hero? They did't do anything with the cash except piling it up and multiplying. By all means they could do that - don't get me wrong again, but that doesn't make them heroes, does it? Their videos are by far _not only_ sane advice out there. They are good, but any decent book on the subject value much more.

I mean, half of Australia views Don Bradman as a hero and all he really did was play cricket very well.

Same with certain actors (Alan Rickman springs to mind), chess legends like Gary Kasparov, albeit on a smaller scale.

I think I understand what you're getting at - Charlie Munger didn't change the world the way, say, Jonas Salk did - but that doesn't mean that people aren't going to idolize him. He was at the top of his game, and incredibly bright and witty.

Re: Charlie Munger has died

#372

Post by [deleted] »

jesterson wrote: post #360
apexalpha wrote: post #339

Earlier quoted context omitted.

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…

That's all great, but does it qualify for a hero? They did't do anything with the cash except piling it up and multiplying. By all means they could do that - don't get me wrong again, but that doesn't make them heroes, does it? Their videos are by far _not only_ sane advice out there. They are good, but any decent book on the subject value much more.

[deleted]

Re: Charlie Munger has died

#373

Post by [deleted] »

lextuto wrote: post #342
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…

Here is what Buffett says about value investing (in his 1992 BRK shareholder letter):"In addition, we think the very term “value investing” is redundant. What is “investing” if it is not the act of seeking value at least sufficient to justify the amount paid? Consciously paying more for a stock than its calculated value—in the hope that it can soon be sold for a still-higher price—should be labeled speculation (which…

[deleted]

Re: Charlie Munger has died

#374

Post by fastasucan »

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.

>Arguably the guy did nothing worthy of admiration.

Hm, isn't that a purely subjective thing? And did he really did nothing worthy of admiration? Isn't it admirable to be great at your job? To write books that people read and enjoy, and draw inspiration from?

Re: Charlie Munger has died

#375

Post by newshorts »

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.

Im not trolling here either.

Genuinely wondering who your heroes are?

Could be a case of mismatched focuses. If someone is focused on tech, they might idealize Musk or Jobs. If someone has roots in the financial realm, they might thing Buffet is their hero.

That’s why I’m asking. Is it possible you can’t understand why Munger is a hero to some because you don’t live in that world?

For the record my heroes are Steve Irwin and my Aunt Patty, so it’s also completely subjective and highly contextual.

Re: Charlie Munger has died

#376

Post by coolThingsFirst »

markbudada wrote: post #358
mindhash wrote: post #347

This saddens me. I recently started psychology of human misjudgement. Someone in thread asked what’s big deal about him. what did he achieve My answer would be I never tried to look into his achievements or did care about them. The man was genuinely curious, humble and a geek. He constantly published his ways of thinking. I enjoyed how he thought about things, how i could relate self correct based on it.

you make a good comment, humble, curiosity, geek, 3 excellent traits of Munger

Lol

Re: Charlie Munger has died

#377

Post by mrazomor »

eddtries wrote: post #357
rickreynoldssf wrote: post #112

I always remember him saying "I always tried to find ways to kill my pilots" referring to his days as a meteorologist in World War 2. This is in reference to "Reverse Thinking", the way I approach all my projects by trying to wreck them from the start and shipping once I can't.

I read they use that methodology at Google X - the team take pride in proving ideas can't work by doing the hardest part first. There's some good blog posts on how this works and how they kill projects fast.

I don't interpret it the same way as you.

My understanding of Munger's intent: find the issues and risks that you are not aware of, by looking at the project from a different perspective.

What Google X (and many others) do: do the most risky parts first, so you fail fast and minimize the wasted effort (save time and money by not doing the less risky parts first, in case the project is doomed).

Re: Charlie Munger has died

#378

Post by listenallyall »

ravenstine wrote: post #181
swyx wrote: post #96

Earlier quoted context omitted.

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.

Look up Jim Fixx... obsessed with running, introduced the sport to millions, constantly hyping up the health benefits... died at 52. Tragically sad.

Re: Charlie Munger has died

#380

Post by jesterson »

fastasucan wrote: post #374
jesterson wrote: post #336

Earlier quoted context omitted.

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.

>Arguably the guy did nothing worthy of admiration. Hm, isn't that a purely subjective thing? And did he really did nothing worthy of admiration? Isn't it admirable to be great at your job? To write books that people read and enjoy, and draw inspiration from?

That’s why i put the word “arguably. Because it seems to be debatable and naturally i would like to hear the other side.

Clever and smart scammer is extremely great at his job sending people into poverty. Absolutely great at the job. Is it admirable? I’ll leave the judgment to you.

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