Why learn anything at age 99?
When Charlie Munger made his final appearance at a Berkshire Hathaway shareholder meeting in 2023, he and Warren Buffett took an audience question asking them to identify some of their own biggest mistakes.
Capitalist Solutions
Thoughts for people who think "good" and "capitalism" have to go together: Updates from the intersection of virtue, markets, and current events.
Subscribe:.rss.atom.json.md.m3u.pls
Dormant Last read · last published · next check
Read 12 days ago and current, but nothing has been published for 2 years.
Latest episodes
Five essential takeaways from Warren Buffett's 2023 letter to shareholders
A letter self-evidently written by a man who doesn't want anyone to overlook his most important lessons when he's gone
Charlie Munger, the underrated philosopher
He had a billionaire's credibility, a scholar's mind, and a preacher's zeal
Why I'm borrowing the words of others
A bunch of people like to sell their work by appropriating the good names of others. That's gross and dishonorable behavior. But you should know the ingredients behind your food for thought.
When you have nothing to add, don't.
Sometimes the most important thing to say is nothing at all
A tent revival for capitalists
Attending the Berkshire Hathaway annual meeting isn't quite a religious experience, but it's one of the rare places where good capitalists make a strong argument for being good
Good investing is hard to televise
Superinvestors don't get their advice from carnival barkers
Major decisions
Don't just do what you love, but don't just do what pays the most, either
Have a friend, and listen to that friend
"Disruption" is overrated. Thoughtful, well-considered action is better.
Thinking a century in advance
China's governing powers aren't really doing it. Long-term thinking has to be adaptable.
Conglomerates: Not dead yet
Even if GE is no longer what it once was
The market isn't your friend nor your foe
That's because it's not a person
Seriously: Don't panic
The overwhelming majority of stock-market participants follow emotions, not logic. Don't do that.
Just be decent
A society does itself no good when it accepts behavioral pathologies as the cost of doing business to get extraordinary performance.
Finding the greater fool
Don't sabotage yourself by falling for dressed-up nonsense
Between friends, that's not how we operate
Real partnerships involve shared trust
Go slower, go farther
Just sit quietly and think once in a while
Hot listings
Pay for winners, not for speed
It's better to be bored by markets
Never bet the whole company
If you were a conglomerate, would you eat yourself?
In character as a sort of deranged Harry Caray, Will Ferrell once posed the enduring question, "If you were a hot dog, and you were starving, would you eat yourself?" As the nonsensical ranting of a impersonated sportscaster, it's a question nobody needs to answer.