Here are few notes I’ve wrote down after I saw this powerful talk of Charlie Munger.
- Never feel sorry for yourself
- Never feel envy.
- Good waves and Bad waves – so what?
If you don’t know who is Charlie Munger – well, he is the CEO of Berkshire Hathaway AND the one person that Buffett suggest you save if both of them are on a sinking ship!
BTW, his full talk, is very interesting but I took one thing that was above the ‘ordinary’ – “…On philanthropy: Generally speaking, I believe Costco (Nasdaq: COST) does more for civilization than the Rockefeller Foundation. I think it’s a better place. You get a bunch of very intelligent people sitting around trying to do good, and I immediately get kind of suspicious and squirm in my seat. That may be a prejudice of mine which isn’t quite fair. But I’ve seen so much good in the world by people who really created better systems, and I’ve seen so much folly and stupidity on the part of our major philanthropic groups, including the World Bank, that I really have more confidence in building up the more capitalistic ventures like Costco.”