10 Big Life Lessons from Charlie Munger (in plain English)
Issue #128: A Crash Course in Charlie Munger’s Life Lessons. 44 Harsh Truths About Human Nature. Unteachable Lessons.
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🎓 Learn
I attended the 2024 Berkshire Hathaway shareholder meeting with my buddy. I already shared a few of my highlights in a past issue.
This year, I couldn’t make it in person, so I watched the full 5+ hour replay on YouTube. (Yes, it’s long—but if you’re a Warren fan, it’s worth every minute.)
One moment that stood out:
Warren talked about a new book that captures 60 years of Berkshire’s journey—told through colorful stories, cartoons, and rare photos.
I heard the special (or signed) copies were selling for hundreds of thousands of dollars… even Tim Cook bought few. (Warren is one hell of a salesman.)
Naturally, I had to get my hands on it.
I checked eBay and found one. Ordered it immediately.
It took forever to arrive—Amazon has spoiled all of us—but it was worth the wait.
It’s now my favorite coffee table book. I’ve been flipping through it during coffee breaks and baby time in the living room.
One gem I found inside:
Mark Tobak’s “10 Great Things I Learned From Charlie Munger.”
Even though I’ve read a few books on Charlie, this list felt like a mini crash course in his timeless wisdom—for life and investing.
If you love Charlie, or just want a quick shot of practical wisdom, here is:
A simplified version of Mark Tobak’s 10 lessons—in my words.
1. Invert the problem.
When stuck, flip the problem around.
Instead of asking “How can I win?”, ask “How could I fail?”
Looking at things from the opposite side often shows you the truth.
2. Repeat what works.
If something works—do more of it.
That’s how evolution builds strong species.
Trial. Error. Keep the winners.
Same rule applies in life and business.
3. Be a learning machine.
Try to go to bed a little smarter than you woke up.
It’s not just about IQ—it’s about staying curious, honest, and open to learning.
Einstein said he just thought longer about problems.
4. Big opportunities are rare—go all in.
Great opportunities don’t show up often.
When they do, don’t hesitate.
Go big.
5. Incentives rule the world.
People do what they’re rewarded to do.
Surgeons operate. Lawyers bill. Brokers sell.
If you understand someone’s incentives, you understand their behavior.
6. Simple is powerful.
E = mc² is simple. So is “compound interest.”
The best ideas aren’t complicated—they’re just hard to stick with.
Clarity beats complexity.
7. Reality is what it is.
We get disappointed not because life is unfair, but because we expect it to be fair.
Hope isn’t a plan.
Face reality as it is, not as you wish it to be.
8. Explain the why.
We all work better when we know why something matters.
If you want someone to care, don’t just give them a task.
Tell them why it matters.
9. Envy is a waste of life.
Envy makes people miserable—and unlike other “sins,” it doesn’t even feel good.
There will always be someone richer, faster, smarter.
So what? Run your own race.
10. Tough times are your test.
Life will hit you hard. That’s just how it goes.
The only question is: How will you respond?
Charlie liked the wisdom of Epictetus:
Use every setback as a chance to grow, learn, and act with character.
🚀 Growth Tip
If you're in the mood for something deep and timeless—this podcast with Naval Ravikant really stuck with me.
He talks about wealth, happiness, self-worth, grief, even death… but in a way that’s honest, simple, and surprisingly comforting.
It felt less like a podcast and more like life advice from someone who's thought a lot about what really matters.
Let me know what part hits you the most.
🤩 Inspiration
Loved this short read by Chris Williamson (yep, the guy who interviewed Naval).
Unteachable Lessons—simple, true, and way too relatable.
👋 Until next time, Anil / CEO and Co-Founder of Multidots, Multicollab, and Dotstore.
May the Peaceful Growth be with you! 🪴
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