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Warren Buffett: “Charlie and I don't like difficult problems. If something is hard to figure, we'd rather multiply by 3 than by pi.” 😂 Charlie Munger: “The other day I was dealing with a problem and it had 3 things which I feared, an architect, a contractor and a... show more

Ronit Pereira

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Warren Buffett: "Charlie and I don't like difficult problems. We would rather multiply by 3 than by pi." "You don't have to do exceptional things to get exceptional results."

Warren Buffett: "Charlie and I don't like difficult problems. We would rather multiply by 3 than by pi." "You don't have to do exceptional things to get exceptional results."

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Why Warren Buffett was so much richer than Charlie Munger: Charlie Munger: “Well, he got an early start, he was much smarter and he worked harder. Tell me why was Albert Einstein poorer than I was?” 😂😂😂

Why Warren Buffett was so much richer than Charlie Munger: Charlie Munger: “Well, he got an early start, he was much smarter and he worked harder. Tell me why was Albert Einstein poorer than I was?” 😂😂😂

Steve Burns

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Why was Warren Buffett richer than Charlie Munger? “Well, he got an early start, he was much smarter and he worked harder. Tell me why was Albert Einstein poorer than I was?” - Charlie Munger 😂

Why was Warren Buffett richer than Charlie Munger? “Well, he got an early start, he was much smarter and he worked harder. Tell me why was Albert Einstein poorer than I was?” - Charlie Munger 😂

Ronit Pereira

95,939 Aufrufe • vor 4 Monaten

"The other day I was dealing with a problem and I said, this thing has 3 things I've learned to fear: an architect, a contractor and a hill." Some things are intrinsically difficult. And you can't just outsource your thinking. "We'd rather multiply by 3 than by π" It's easier that way. Whenever possible, Warren stays away from complexity. Why going for π if you can go for 3. “I don't look to jump over 7-foot bars. I look around for 1-foot bars that I can step over.” No extra reward comes from complexity. You might get some admiration from non-knowers, but that's about it. All things equal, the simplest explanation is the best one. Easiest to remember and recall. Easiest to practice. There's much more power in simple ideas than in complicated ones. They can scale and are repeatable. Mastery comes from doing the same simple thing over and over again. But don't force simplicity. It must be 'as simple as possible, but not simpler'. To test for this: 1. Use Feynman's question: Can you teach it to a 5-year old? 2. Use Darwin's guiding principle: Is it true?

"The other day I was dealing with a problem and I said, this thing has 3 things I've learned to fear: an architect, a contractor and a hill." Some things are intrinsically difficult. And you can't just outsource your thinking. "We'd rather multiply by 3 than by π" It's easier that way. Whenever possible, Warren stays away from complexity. Why going for π if you can go for 3. “I don't look to jump over 7-foot bars. I look around for 1-foot bars that I can step over.” No extra reward comes from complexity. You might get some admiration from non-knowers, but that's about it. All things equal, the simplest explanation is the best one. Easiest to remember and recall. Easiest to practice. There's much more power in simple ideas than in complicated ones. They can scale and are repeatable. Mastery comes from doing the same simple thing over and over again. But don't force simplicity. It must be 'as simple as possible, but not simpler'. To test for this: 1. Use Feynman's question: Can you teach it to a 5-year old? 2. Use Darwin's guiding principle: Is it true?

Giuliano

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Charlie Munger on working with Warren Buffett. "We never have an unpleasant disagreement. Occasionally, we start with the same facts and have slightly different views — and we solve our problem in those occasions by doing it his way." 🤣 "Some people say to me, 'How can you be so overbearing and domineering and unpleasant as you are, Charlie, and be in a subordinate position when you're dealing with Warren?' And I say, 'Well, Warren is not a normal human being.'"

Charlie Munger on working with Warren Buffett. "We never have an unpleasant disagreement. Occasionally, we start with the same facts and have slightly different views — and we solve our problem in those occasions by doing it his way." 🤣 "Some people say to me, 'How can you be so overbearing and domineering and unpleasant as you are, Charlie, and be in a subordinate position when you're dealing with Warren?' And I say, 'Well, Warren is not a normal human being.'"

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Charlie Munger: “Berkshire would’ve been a lot bigger if we had used leverage, but we would be sweating at night.” “And it’s crazy to sweat at night…” (pause) Warren Buffett: “Over financial things.” 😂😂😂

Charlie Munger: “Berkshire would’ve been a lot bigger if we had used leverage, but we would be sweating at night.” “And it’s crazy to sweat at night…” (pause) Warren Buffett: “Over financial things.” 😂😂😂

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Charlie Munger and Warren Buffett on Ethanol blending in Petrol: “Ethanol blending is a very stupid way to try and solve an energy problem.” “It takes more fossil fuel energy to create ethanol than you can get out of ethanol you’ve created.” - Charlie Munger. 2006.

Charlie Munger and Warren Buffett on Ethanol blending in Petrol: “Ethanol blending is a very stupid way to try and solve an energy problem.” “It takes more fossil fuel energy to create ethanol than you can get out of ethanol you’ve created.” - Charlie Munger. 2006.

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266,636 Aufrufe • vor 1 Monat

Charlie Munger and Warren Buffett on Ethanol blending in Petrol: “Ethanol blending is a very stupid way to try and solve an energy problem.” “It takes more fossil fuel energy to create ethanol than you can get out of ethanol you’ve created.” - Charlie Munger. 2006 #Ethanol

Charlie Munger and Warren Buffett on Ethanol blending in Petrol: “Ethanol blending is a very stupid way to try and solve an energy problem.” “It takes more fossil fuel energy to create ethanol than you can get out of ethanol you’ve created.” - Charlie Munger. 2006 #Ethanol

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Warren Buffett on Charlie Munger’s hearing problem “I stood across the room and said - Charlie, we should buy General Motors at $35. No reaction.” “Got closer and repeated it. Not a flicker.” “Finally I shouted in his ear and Charlie replied - For the 3rd time, Yes.” 😂

Warren Buffett on Charlie Munger’s hearing problem “I stood across the room and said - Charlie, we should buy General Motors at $35. No reaction.” “Got closer and repeated it. Not a flicker.” “Finally I shouted in his ear and Charlie replied - For the 3rd time, Yes.” 😂

Ronit Pereira

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Charlie Munger: "It's not a competency if you don't know the edge of it. You are a disaster if you don't know the edge of your own competency." "Warren [Buffett] frequently says, 'I'd rather deal with a guy with an IQ of 130 who thinks it's 125 than a guy with an IQ of 180 who thinks it's 200. That second guy will kill you.'" "Warren and I know the edge of our competency better than other people do. That is a very important thing to know." (Caltech || 2008)

Charlie Munger: "It's not a competency if you don't know the edge of it. You are a disaster if you don't know the edge of your own competency." "Warren [Buffett] frequently says, 'I'd rather deal with a guy with an IQ of 130 who thinks it's 125 than a guy with an IQ of 180 who thinks it's 200. That second guy will kill you.'" "Warren and I know the edge of our competency better than other people do. That is a very important thing to know." (Caltech || 2008)

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“Charlie and I were on a plane which was hijacked. They asked Charlie about his last wish and he said he wanted to give speech on the virtues of Costco.” “The hijacker asked me, what was my last wish and I said - Shoot me first.” 😂 - Warren Buffett.

“Charlie and I were on a plane which was hijacked. They asked Charlie about his last wish and he said he wanted to give speech on the virtues of Costco.” “The hijacker asked me, what was my last wish and I said - Shoot me first.” 😂 - Warren Buffett.

Sunil Gurjar, CFTe

392,588 Aufrufe • vor 4 Monaten

“Charlie and I were on a plane which was hijacked. They asked Charlie about his last wish and he said he wanted to give speech on the virtues of Costco.” “The hijacker asked me, what was my last wish and I said - Shoot me first.” 😂 - Warren Buffett.

“Charlie and I were on a plane which was hijacked. They asked Charlie about his last wish and he said he wanted to give speech on the virtues of Costco.” “The hijacker asked me, what was my last wish and I said - Shoot me first.” 😂 - Warren Buffett.

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Charlie Munger: “Warren, there have been many times when I’ve had more than 100% of my net-worth in one position.” Warren Buffett : “That’s because you had a friendly banker and I didn’t.” 😆 “There are situations you will see where it would be a mistake if you’re working with smaller sums, not to have half your net-worth in.” Interesting but a risky proposition from Munger and Buffett.

Charlie Munger: “Warren, there have been many times when I’ve had more than 100% of my net-worth in one position.” Warren Buffett : “That’s because you had a friendly banker and I didn’t.” 😆 “There are situations you will see where it would be a mistake if you’re working with smaller sums, not to have half your net-worth in.” Interesting but a risky proposition from Munger and Buffett.

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Charlie Munger: "I always obeyed the drift of my nature. And if other people didn't like it, well, I didn't need to be adored by everybody."

Charlie Munger: "I always obeyed the drift of my nature. And if other people didn't like it, well, I didn't need to be adored by everybody."

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Warren Buffett and Charlie Munger strongly recommend reading "A Piece of the Action" by Joe Nocera. BUFFETT: "It's a terrific history of the credit card business." MUNGER: "For a book about an economic development, it captures the human background in a very interesting way."

Warren Buffett and Charlie Munger strongly recommend reading "A Piece of the Action" by Joe Nocera. BUFFETT: "It's a terrific history of the credit card business." MUNGER: "For a book about an economic development, it captures the human background in a very interesting way."

Kevin Carpenter

29,828 Aufrufe • vor 6 Monaten

Warren Buffett and Charlie Munger on why reading fast is overrated: At a Berkshire Hathaway meeting, shareholder Keith McGawan asks Buffett for advice on reading faster, noting that Buffett gets through five newspapers a day plus a steady diet of 10Ks and 10Qs. Buffett's answer is disarmingly humble. Despite his legendary reading habit, he confesses: "Unfortunately, I'm not a fast reader." He even adds that Charlie can read faster than he can, and that "it's a huge advantage to be able to read fast." Then he tells a story on himself, by way of Woody Allen: "I read War and Peace last night in 20 minutes. It's about Russia." That punchline, Buffett admits, hits a little too close: "that's the problem I have when I try and read fast. I get all through reading the book and I say it's about business." But for Buffett, the point was never the speed. It's the act itself: "There's hardly anything more pleasurable... than reading and reading and reading and reading. And Charlie and I do a lot of it. We continue to do a lot of it." Then Munger reframes the entire question and quietly dismantles the premise: "I think speed is overestimated. I had a roommate at Caltech who had a very distinguished mind and I could do problems faster than he could, but he never made a mistake and I did. So I wouldn't be too discouraged if you have to go a little slower. What the hell difference does it make?"

Warren Buffett and Charlie Munger on why reading fast is overrated: At a Berkshire Hathaway meeting, shareholder Keith McGawan asks Buffett for advice on reading faster, noting that Buffett gets through five newspapers a day plus a steady diet of 10Ks and 10Qs. Buffett's answer is disarmingly humble. Despite his legendary reading habit, he confesses: "Unfortunately, I'm not a fast reader." He even adds that Charlie can read faster than he can, and that "it's a huge advantage to be able to read fast." Then he tells a story on himself, by way of Woody Allen: "I read War and Peace last night in 20 minutes. It's about Russia." That punchline, Buffett admits, hits a little too close: "that's the problem I have when I try and read fast. I get all through reading the book and I say it's about business." But for Buffett, the point was never the speed. It's the act itself: "There's hardly anything more pleasurable... than reading and reading and reading and reading. And Charlie and I do a lot of it. We continue to do a lot of it." Then Munger reframes the entire question and quietly dismantles the premise: "I think speed is overestimated. I had a roommate at Caltech who had a very distinguished mind and I could do problems faster than he could, but he never made a mistake and I did. So I wouldn't be too discouraged if you have to go a little slower. What the hell difference does it make?"

Black Edge

21,290 Aufrufe • vor 2 Monaten

Warren Buffett: "If you played golf and every time you hit the ball it was a hole-in-one, it would be of no interest whatsoever." "Charlie and I would have more fun out of the things that didn't work a lot of times [rather] than those that did."

Warren Buffett: "If you played golf and every time you hit the ball it was a hole-in-one, it would be of no interest whatsoever." "Charlie and I would have more fun out of the things that didn't work a lot of times [rather] than those that did."

Kevin Carpenter

99,111 Aufrufe • vor 7 Monaten

Charlie Munger: "I have a pile on my desk that solves most of my problems. It's called the Too Hard Pile. And I just keep shifting things to the Too Hard Pile." "Every once in a while, an easy decision comes along and I make it. That's my system. Everything goes to the Too Hard Pile — except for a few easy decisions which I make promptly."

Charlie Munger: "I have a pile on my desk that solves most of my problems. It's called the Too Hard Pile. And I just keep shifting things to the Too Hard Pile." "Every once in a while, an easy decision comes along and I make it. That's my system. Everything goes to the Too Hard Pile — except for a few easy decisions which I make promptly."

Kevin Carpenter

753,727 Aufrufe • vor 8 Monaten

Warren Buffett: “If I had one piece of advice, I would like you to use Charlie’s advice of thinking how you would like your obituary to read…” Charlie Munger: “Write your obituary the way you want it written, and then live your life accordingly.”

Warren Buffett: “If I had one piece of advice, I would like you to use Charlie’s advice of thinking how you would like your obituary to read…” Charlie Munger: “Write your obituary the way you want it written, and then live your life accordingly.”

Investment Wisdom

29,784 Aufrufe • vor 3 Monaten