(Dynamic / Kostya Etus) On Tuesday, Nov. 28, 2023, Charlie Munger passed away at the age of 99. He would have turned 100 on New Year’s Day. He was the vice chairman, second in command and closest friend to Berkshire Hathaway’s Chairman and CEO Warren Buffett. He was truly one of the greatest investors of our lifetime.
My most memorable investment and life lessons have always come from Berkshire’s annual shareholder meeting where Warren and Charlie would captivate thousands of investors gathering in Omaha, Neb., for what has come to be known as “Woodstock for Capitalists.”
Below are my personal Top 10 quotes from Charlie which have always stayed with me and will continue to do so as I can only hope to have a long and absolutely grand life as he did:
- “Lifelong learning is paramount to long-term success.”
- “You’re not learning anything if you’re not making mistakes.”
- “Knowing what you don’t know is more useful than being brilliant.”
- “Always take the high road, it’s far less crowded.”
- “The best thing a human being can do is to help another human being know more.”
- “I believe in the discipline of mastering the best that other people have ever figured out. I don’t believe in just sitting down and trying to dream it all up yourself. Nobody’s that smart.”
- “You’re not going to get very far in life on the basis of what you already know. You’re going to advance in life by what you’re going to learn.”
- “The best armor of old age is a well spent life preceding it.”
- “It’s so simple to spend less than you earn, and invest shrewdly, and avoid toxic people and toxic activities, and try and keep learning all your life, and do a lot of deferred gratification. If you do all those things, you are almost certain to succeed. If you don’t, you’re going to need a lot of luck.”
- “When you borrow a man’s car, always return it with a tank of gas.”
Stay diversified, my friends.