I stumbled across Charlie 25 years ago. His talks, quotes, speeches and ideas have transformed my decision making and thinking and improved my trajectory in life. He always reinforced the importance of lifelong learning and intellectual curiosity. RIP Charlie Munger.

John Steinbeck's Letter to Marilyn Monroe. April 28, 1955

The Psychology of Human Misjudgment is considered the magnum opus on why we behave the way we do. In the run-up to publishing Poor Charlies Almanack, Charlie Munger remarked that “The Psychology of Human Misjudgment” could use “a little revising.” Charlie’s “little” revision would amount to a full-scale rewrite, with loads of new material and a “stop-the-press” completion schedule. The talk features Charlie’s original concept of “behavioral finance,” which has now burgeoned into its own academic field. Charlie also addresses the importance of recognizing patterns to determine how humans behave, both rationally and irrationally. He shares with us his checklist of twenty-five standard causes of human misjudgment, which contains observations that are ingenious, counterintuitive, and important—values Charlie treasures in the work of other great thinkers throughout history. He also emphasizes the “lollapalooza” power of psychological misjudgments in combination. This talk was written exclusively for Poor Charlie’s Almanack and is published on FS with Peter Kaufman's and Charlie Munger's written permission. fs.blog/great-talks/psycholo…

RIP, Charlie Munger One of the last authentics. WSJ, Mark Spitznagel, founder, Universa Investments: "Munger was a guiding light that taught a generation (or two, or three) of investors, including me, how to think—what to focus on, what not to focus on, the importance of mental models, and how to avoid so much of the BS from the industry and academia."

A life well lived. “I paid no attention to the territorial boundaries of academic disciplines and I just grabbed all the big ideas that I could.” “If you skillfully follow the multidisciplinary path, you will never wish to come back. It would be like cutting off your hands.” “Take a simple idea, and take it seriously.” “It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.” “Spend each day trying to be a little wiser than you were when you woke up. Discharge your duties faithfully and well. Systematically you get ahead, but not necessarily in fast spurts. Nevertheless, you build discipline by preparing for fast spurts. Slug it out one inch at a time, day by day. At the end of the day – if you live long enough – most people get what they deserve.” “I try to get rid of people who always confidently answer questions about which they don’t have any real knowledge.” – Charlie Munger

“It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.” — Charlie Munger

“It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid instead of trying to be very intelligent.” --- Charlie Munger

And that's how we end up with six hour podcasts.😂

Why write an essay when you can type a few words and have AI generate one for you? Why write an email when AI can auto-respond for you with all the typical pleasantries and talking points? While AI doing these things for you is likely to happen, it’s not necessarily a good thing. Even when these tools exist, they are not a replacement for writing. Writing is the process by which you realize that you do not understand what you are talking about. Importantly, writing is also the process by which you figure it out. Writing about something teaches you about what you know, what you don’t know, and how to think. Writing about something is one of the best ways to learn about it. Writing is not just a vehicle to share ideas with others but also a way to understand them better yourself. Paul Graham put it this way: “A good writer doesn’t just think, and then write down what he thought, as a sort of transcript. A good writer will almost always discover new things in the process of writing.” There is another important element to writing that often gets overlooked. Writing requires the compression of an idea. When done poorly, compression removes insights. When done well, compression keeps the insights and removes the rest. Compression requires both thinking and understanding, which is one reason writing is so important. Great writing requires you to position your idea in a way that will resonate with the reader. Average writers start with what they want to say without considering how it will land with the reader. Great writers understand the journey starts with what the reader desires. Think of the difference as starting at the beginning or the end of a maze. When you start at the beginning, you have to convince people the path is the right one. When you start at the end, they already know you’re taking them where they want to go. In a world of average writing available on demand, every organization will start communicating like a big one. The signal-to-noise ratio will change for the worse. If you’ve ever read a government communication, you understand how a lot of words can say nothing. Bandwidth will be filled with common ideas, verbose communication, and ambiguous jargon. In the future, information will become even more of a substitute for thought than it already is. Many things can be done by tools that write for you, but they won’t help you learn to think or understand a problem with deep fluency. And you need deep fluency to solve hard problems. A world of common thinking available on demand will tempt people to outsource their thinking and disproportionately reward people who don’t. In the future, clear thinking will become more valuable, not less.

Farewell, Barry Humphries, you Comedy genius.

I am very, very tired of people telling me that TWITTER is a mess, and that, consequently, they must have it for FREE, while posting these intelligent statements on Twitter.

99-year-old Charlie Munger tells @BeckyQuick his “key to longevity”: See's peanut brittle. cnb.cx/40Z3JS7

I woke up feeling better that the Southern District of NY is handling "Sam the Grok" SBF. They are merciless. No more NYT BS. SDNY brought down the mafia (the Commission Trial), got Fat Tony Salerno, hounded financial criminals s.a. Mike Milken & Ivan Boesky, and handled Madoff.

Still thinking of that woman that walked up to a Russian soldier and said "put seeds in your pockets, so that when you are killed, sunflowers will grow"

It’s pretty popular to write tweets mocking people starting podcasts. It reminds me of people mocking blogs. It’s all elitist gatekeeper BS. The fact the Internet gives opportunity to anyone anywhere is awesome.

If you want to waste 5 minutes of your life on this video, it’s pretty funny to hear Munger’s zingers. He’s been getting criticized on FinTwit for $BABA but I still love the guy. Win or lose, he won’t pull punches and has always done it his way (except for deferring to Buffett).

Big news at @whooshkaa today! whooshkaa.com/blog/the-next-… @Spotify @MegaphonePods

Citizens of the oldest current democracy and best functioning one, ultra-localist Switzerland, voted with a large majority in favor of vaccine passes. This weakens the circulating conspiracy theory that vaccines are *just* a power grab by big government.