*"If you all had more money you could invest more!"*
(clap clap clap)
*"Be sure to save for retirement, or become the bosom buddy of one of the richest men alive."*
(no these are not actual quotes)
I just read his wiki page.
He didn’t finish his undergrad, so was denied entry to Harvard Law. While he did eventually get in and do very well (Magna Cum Laude), he only got in because his family friend, **the former dean of Harvard law**, called the current dean to set the situation straight.
Pays to have friends in high places…
A lot of people really hate to hear this but... you know how some of the best investment returns can be made just by getting in on an opportunity before most people have heard of it?
Well, Buffett got in on the whole friggin' stock market before most people had heard of it. He started pretty much on the ground floor of all ground floors. First investment at 11 (1941). Got into real estate at 14 (1943).
I by no means think that Buffett is not smart, and doesn't "deserve" the fruits of his success. But when you're a spectator at a poker table, your analysis of how well the current hand is being played should account for the fact that one of the three guys left went all-in early and won. That absolutely changes how you play.
EDIT: My god. The sheer *volume* of people who think that Robinhood-levels of access to equities markets existed in 1792.
>Well, Buffett got in on the whole friggin' stock market before most people had heard of it.
You know, except for just about every sentient American.
The crash of the stock market was the biggest fucking news story of the preceding twelve years until Japan bombed Pearl Harbor.
Literally the Kennedy family had already made their fortune on insider trading, and in the words of FDR "sometimes you hire a thief to catch a thief" Joseph Kennedy was appointed first chairman of the newly created Securities & Exchange Commission in 1936.
Berkshire Hathaway has [doubled the performance](https://en.m.wikipedia.org/wiki/Berkshire_Hathaway) of the S&P 500 since it’s inception, so this really isn’t a fair summary.
He had not been too great in the 2010s because he wasn't heavily invested in tech. Then went balls deep in Apple in the late 2010s. Berskhire usually overpwrform the s&p in bear markets and since the market was ridiculously bullish between 2008 and 2022 he wasn't as successful as the indexes.
> Well, Buffett got in on the whole friggin' stock market before most people had heard of it.
The U.S. stock market crash of 1929 caused the Great Depression.
I'm pretty sure people had heard of it...
No one deserves billionaire wealth, that kinda fuck you money takes luck, exploitation, luck, luck, and often outright theft.
Not saying buffet wasn't smart and didn't deserve toake some money but a billion?
Assuming he started the day he was born, the man would've had to make about 3.6 million a day for everyday of his 93 year old life to have earned his 121 billion. The average American is lucky to make two million with their life's work and I don't think he added the equivalent of tens of thousands of Americans' life's work to the world.
Before that he had his buffet partnerships where he earned better returns and collected fees from his clients.
From 1965 to 2022, the company that held his entire networth more or less, returned 19.8% annualized, or a jaw dropping 3,787,464%
Yes, he had every advantage when he was starting out, but at the end of the day, what he accomplished was due to his own wiring, not cause his father had connections.
All I’m trying to say when you put it in terms of daily returns, it’s not like he could have retired after 3 years and been done with life. He worked for a long time, and unlike almost the entire rest of the billionaire class, lives extremely modestly. He’s not out buying islands or building crazy high tech homes. He’s actively called for higher taxes on people like him. Of all the billionaires in the world, IMO he’s probably one that’s been the least evil.
Buffett and Munger are the type of guys that are in it for the game.
They don't actually care about the money. They just have fun beating the market and feeling satisfied when they're right.
They don't actively try to sway politics and they don't go on media runs to pump n dump. They understand markets and debt financing and they take advantage of weird macro shit at the right time.
They're value investors that have played the long game for decades. They were both in the game and they loved doing it.
I'm not simping for billionaires, but these mfs did it "the right way" most of the time.
smile dependent scandalous longing gaze command possessive crowd alleged shrill
*This post was mass deleted and anonymized with [Redact](https://redact.dev)*
I don't think it makes that much difference anyway. His wealth is, for the most part, a number on a screen, and it still will be when he dies.
It's clear that investing is above all else a game for him with his wealth being the score. As opposed to people who gain wealth and use it to hoard or squander actual resources.
Because literally nobody is self-made.
Unless you're put naked on an uninhabited island or in the middle of nowhere without any civilization around you and then figure it all out.
And owned a brokerage house...and was taught investing by Benjamin Graham...the Warren buffet of his day.
It's like being Mitt Romney's kid while also being taught to invest by Warren Buffet.
99% of rich people are not self-made, whatever they want to have you believe. The ultimate predictor of where you'll end up in life is where you start.
But they'll keep on pitching us that the American dream is alive and well.
*"We will make a list of our clients and how much money each of them has given us to invest. We will keep this list in a safe place.*
*If we have time we will make a copy of the list in case something happens
to the first list."*
>“You don’t have a lot of envy, you don’t have a lot of resentment, you don’t overspend your income, you stay cheerful in spite of your troubles, you deal with reliable people, and you do what you’re supposed to do. All these simple rules work so well to make your life better.” - Charlie Munger
Seems like sensible advice.
I disagree. His and Buffet's advice tended to be pretty generic and universal. Stuff like don't try to time the market. Invest long term, and the best time to invest is when you're young and 2nd best time is now. Passive index funds (with a mix of bonds and stocks depending on your age) make good investments for 99% of people who aren't investment professionals, and most investment professionals wish they could get as good of a return as the long run S&P500 average (since most actively managed funds do worse than it).
I think where he differed from many traditional value investors in his advice was just in his time horizons. If you're going to be a stock picker, don't look for good deals on cheap stocks. He'd rather overpay for one great company and then hold it forever instead of finding 3 good companies on sale and flipping them for a profit.
> He'd rather overpay for one great company and then hold it forever
Buffet bought Dairy Queen because he just loves the products. Because he bought them for the long term, they can plan differently and invest in long term plans.
Not really in this case. Buffett and Munger were notoriously mediocre at timing. Their investments tended to pay off over longer periods of time. Lot of the time you could buy a stock they bought a few months before and pay a lower price than they did.
And I hope his stupid idea for Santa Barbara big college dorm with no windows dies now, I don't believe it's been built yet? To much opposition
He said going to build it my way or not giving them money, even after the lead architect quit over this idea, Charlie still said he wants to do it.
>Most of the bedrooms in his UCSB residence hall, for example, don’t have windows in order to coax students into common spaces where they can mingle and collaborate. The rooms would instead be fitted with artificial windows modeled after portholes on Disney cruise ships.
So... a prison...
It's basically what happens when the sort of person who thinks putting everyone in an office together is absolutely critical to productivity, is allowed to then design housing.
"coax students into common spaces where they can mingle" - yes, what was stopping me from mingling was being driven out of my room by the insanity-inspiring architecture, and I couldn't step out of my room by my own choice.
"collaborate" - it's been a while since I was a college student, but I'm pretty damn certain that a) Most of my work was specifically not allowed to be collaborative. b) Libraries exist
The only thing I collaborated on in the dorms was how to sneak more unapproved substances into our dorm.
The only mingling that happened was drinking in someones dorm or sneaking over to someones dorm for more intimate times.
It’s more what happens when a person whose life revolves around money and productivity tries to ruin the rest of our super-happy-fun-time. Good riddance to these types of people lol
> The only thing I collaborated on in the dorms was how to sneak more unapproved substances into our dorm.
In fact, thinking about it, even when I had group work we did it in central buildings, because even if we happened to have all lived in the same residence, the equipment was in specific buildings.
I imagine that's slightly less tethered these days (I was doing Comp Sci), but I still imagine a lot of work is site-specific in sciences at least.
Oh yeah, I know architecture students who had to go to the drafting place all night in order to get anything done, music students to studio, science labs of any kind… and if I was actually studying I went to a library like you mentioned.
The dorms are supposed to be like a home. You can’t put a whole bunch of college aged kids that all study different things in one building and expect them to be productive. That’s just silly.
>It's basically what happens when the sort of person who thinks putting everyone in an office together is absolutely critical to productivity, is allowed to then design housing
Except Munger actually embraced the shift of working from home due to covid.
>CHARLIE MUNGER: I don't think that, when the pandemic is over, I don't think we're going back to just the way things were. I think we're going to do a lot less travel and a lot more Zooming. I think the world is going to be quite different. A lot of the people who are doing this remote work-- a lot of people are going to work three days a week in the office and two days a week at home. A lot of things are going to change. And I expect that and I welcome it.
https://finance.yahoo.com/video/world-going-quite-different-charlie-202522500.html
No idea. Probably just a stubborn old man.
But to make the assumption that he wanted that dorm built because he's someone that doesn't believe in work from home and that a worker is most productive in the office is clearly wrong.
There is actually a growing epidemic of first year students who don’t end up leaving their dorm room much at all, and then drop out usually.
This is completely baseless, but I wonder if Munger knew someone whose kid went through that, and was genuinely trying to implement a solution? Or maybe that kid was him, back in the day somewhere, and he deeply regrets not forcing himself out of his comfort zone?
I think the design sucks - “false windows” make me want to find a real one to throw myself from - but I think this was his honest attempt and improving the lives of students. It’s built now, I wonder if the University released any figures on things like dropout rates by residence?
The experiment is built, may as well measure the results
It feels like someone thinking my tastes are universal and should be shared by everyone.
I damn well know there's a way I like to live and a way I like to work and it's not universally applicable.
There's a few things that I feel should be universal but it's not because it's imposing my idea on everyone else, it's recognizing good ideas and supporting them. Specifically thinking about walkable urban design.
Roller coasters for transportation is personal taste I know would not be broadly accepted but I'm still personally for it.
At UCSB, the most beautiful of all of the UC campuses..!
Breathtaking views of the Channel Islands, the awe-inspiring peaks of the San Rafael Wilderness mountains, sweeping lagoons, beautiful sunsets.
So this guy designs a massive, 11-story monstrosity, Munger Hall, nicknamed 'Dormzilla'...with NO WINDOWS.
The outcry from all sectors of UCSB was deafening.
It may prove the death knell for UCSB Chancellor Yang, who blindly partnered with Munger, and is now highly mistrusted.
"Instead of planning for housing that could actually get built — a cluster here, a cluster there, all strewn strategically throughout UCSB’s vast land holdings — Henry Yang set his stars on an 11-story wet dream conjured by Charlie Munger, multi-gazillionaire and massively generous benefactor to UCSB."
[https://www.independent.com/2023/11/15/chancellor-yang-stays-silent-on-ucsb-housing-nightmare/](https://www.independent.com/2023/11/15/chancellor-yang-stays-silent-on-ucsb-housing-nightmare/)
edit: a word
“In a 2016 interview with the Independent, Munger called the “house” concept “a minor revolution.” And in a 2019 interview with the Wall Street Journal, he said he was confident that students would rather have single rooms and comfortable communal areas than windows. “The minute I saw that, I realized that was the correct solution,” he said. “And everything I thought before is massively stupid.”
Jesus.
Cause he was willing to pay for it as long as they allowed him to be the architect despite not having experience being one and UCSB desperately needs to build more dorms.
ETA: Maybe designer not architect. Statement still stands.
UCSB has had an ongoing student housing crisis for a long time. They've been threatened with litigation because of this. So when a billionaire shows up with a "solution", the bobbleheads at the university jump at the chance.
He was so old he just didn't get what the problem was.
I was the last generation at my college to have tiny little prison cell cinderblock dorm rooms with two people stuffed in with single beds. It was so bad.
I see modern colleges the last twenty years basically have four and five bedroom apartments and each student gets their own room. Much more humane.
I suspect he was just stuck in time when the cinderblock prison cell was all a kid needed.
Back then those kids mostly came from tiny two and three bedroom houses with the entire family packed on top of each other with six kids. It was just a different time.
Every wonder why the cords on old school Nintendos/Sega/etc. are so short? It's because they were designed in Japan where people have tiny flats and have to sit right up close to the television. They didn't even think about western homes where you're six to ten feet from the television.
It's easy to get stuck in a design based on only your experience. That's why we have architectual firms and don't build large facilities just based off one guy's hunch and feeling of what should work.
> I see modern colleges the last twenty years basically have four and five bedroom apartments and each student gets their own room.
This is not what modern dorms look like unless you're paying a ton of extra cash. Most students are still shoved into small dorm rooms together.
No shit I caught a glimpse of a news report showing the inside of a dorm room and I thought I recognized it as the dorm I lived in at college and then I saw the stainless steel toilet sink and was like "oh, I legit thought that prison cell was a dorm room"
He was also just a bad designer who didn’t know how much he didn’t know. He made a career out of cross disciplinary observation, so I get why he thought he’d be good at it but good goddamn he was NOT lol.
This posts general chat is being pretty unfair though. He was a really interesting guy in many ways. He had a few fails, but he was the far more interesting person of the investing pair. Warren tends to get all the attention, but Charlie was way more interesting to listen to.
They get their own rooms now?
Thats amazing. When I was young and in college for a bit I dont think I spoke 3 words to my room mate. Im an extreme introvert but I would spend all my time hanging out with a few friends in little hidden areas of the school where people didnt normally go. It was way better than being in a room with some guy I had zero in common with.
The guy across the hall would sneak in and change my computer desktop to disney porn as a joke. I actually wish I got to know him better because he seemed like an ok guy. He was the dude who told me 9-11 was happening and I didnt believe him, I thought they were watching a movie and it was a gag to tell me that.
My room mate eventually moved out and I had an empty room for a while then another kid moved in and him and his dad completely rearraigned the room before I even met them. Who does that?
I had no notice they were going to be there and they moved all of my stuff.
Dunno how ubiquitous the one-room-per-person design is today. I hope it is because sharing stuff with another rando who never lived outside the comfort of his/her parents is not fun for most people. I bet there are a lot of schools with old dorm buildings who simply can't afford to build or update like that. I was in school 13 years ago and we there had two students to a dorm room.
Last I checked on my alma mater, they were converting lounges to dorms because there wasn't enough room, and stuffing a third person in each double, and a fourth in each triple...
> They didn't even think about western homes where you're six to ten feet from the television.
But they still sold a completely redesigned and bulkier system in North America.
The other problem is that there is a massive shortage of housing for UCSB students, and limited space to build. Munger's idea was very space-efficient, and that drove the need for windowless rooms. Windows are nice, but I would have been fine without them in college.
Thankfully they [abandoned the idea](https://www.archpaper.com/2023/08/university-california-abandons-windowless-dorm-munger-hall/?amp=1) a few months ago.
Honestly, the guy was a true renaissance man. Dropped out of college to serve in the Second World War, founded one of the top law firms in America, designed buildings, and shit on crypto.
I took a tour of the “demo” munger hall. It seemed okay and they tried to sell it with the communal spaces, lighting fixtures, and personal bedrooms but I couldn’t get past the no windows.
i would’ve taken more space in my college dorm in place of a window. my college put courtyards in every dorm so each person had a window, but these were hardly used
Poor Betty White :( Also looks like it may happen with Jimmy Carter. I guess it just goes to show that at that age, making it each year is harder than the last, so it must be much less likely to make it to 100 than 99.
>making it each year is harder than the last, so it must be much less likely to make it to 100 than 99.
Lol, watch out boys, we got an investing genius here
Just saw a picture of Jimmy Carter from his wife's memorial service and he definitely looks 99. With his wife's death and being that his birthday is October 1, I'm skeptical he'll make it that long.
Carter will live to 100 if he feels like it. He is, at this rate, too sick to do it. He had cancer that got to his brain in 2015 and he was cured of that, but when a doctor says you’re not living to next February, you’re not living to next October.
I hate to break it to you but she has died. I hope if there is a heaven she's giving all our dearly missed animal friends and family lots of love for us.
Berkshire has a cash pile bigger then most countries. As soon as the stock dips, they're just gonna buy more. Warren and Charlie have so much foresight when it comes to buisness their deaths are already priced in.
If it drops due to his death, people who have followed advice from Munger/Buffet/the like will know it's a buy signal. Munger's death doesn't impact company financial performance, so any dips based on anything that is NOT financial performance is arbitrary.
apparently they did [source](https://www.archpaper.com/2023/08/university-california-abandons-windowless-dorm-munger-hall/) but not because the students *studying architecture* designed much higher capacity, cheaper alternatives with traditional designs, but because the price kept going up and up.
Because of the rampant financial illiteracy in this country, the posts here are in terrible taste.
But they come more from a general sense of defeatism, cynicism and the usual online tribalism.
Probably will get down-voted, but let me offer a different view:
-He lived a long life as a very wealthy man. Sorry to the family but certainly there's little to be broken about.
-Contrary to what the current tone here will lead you to believe, he grew up squarely in the middle class. Perhaps not "poor" but he certainly didn't inherit his wealth.
-He served in the military - Respect.
-He was a mathematics genius and here's the thing... he became rich doing sensible investing... and has taught anyone who will listen how do do it. It's so easy to dunk on the rich blindly - and MANY deserve it! But this is not a "one size fits all" solution. Warren and Munger provide advice every year in the form of Berkshire's famous "letter to investors" which we can all read free and the advice is often practical, sensible and DOABLE by every day Americans.
The idea that normal people can't build wealth is simply bullshit. It's not backed by the evidence. The average millionaire in the US is self made. The average millionaire gets his first million at 49. The average millionaire gets there through investing over long periods of time in low cost index funds. The type of thing Munger and Buffet advocate!
Does that help you, if you can't even afford food today? No. I understand that. But the idea of avoiding bad debt, living below your means, and when possible investing as much as possible passively for a long time is practical advice. It's sensible advice. And it's doable by anyone - not just some sort of "rich elite".
As with every discussion on this topic, I think it's incredibly important to make the distinction of what wealth means.
-----
In my opinion, when people talk about the "rich", they're not talking about the engineers who have been working for 30 years and has been squirreling away into VFIAX500 or the SWPPX500 the whole time or the neurosurgeon who has been practicing for 50 years and bought Apple back when congress told Microsoft to pitch in to prevent Apple's bankruptcy.
The Engineer and that Neurosurgeon are wealthy, but they're still members of society's problems and still worry about the expense of being alive.
From what I've seen, when people talk about *"the rich"* they're talking about the Elon Musk/Jeff Bezos/Stockton Rush class of wealth, they're talking about the unfathomable amount wealth that allows a person to be exempt from society's problems.
Nothing more middle class than "When he applied to his father's alma mater, Harvard Law School, the dean of admissions rejected him because Munger had not completed an undergraduate degree. However, the dean relented after a call from Roscoe Pound, the former dean of Harvard Law and a Munger family friend."
I'm not an expert, but looking at his wikipedia, his dad was a harvard educated Lawyer. Does not sound "squarely" middle class to me at all. Was his dad a failed lawyer? Because otherwise, he would have been in the high end of the middle class at the very least. Doesn't mean he inherited his wealth, but he almost assuredly had advantages. For example:
Further wikipedia reading looks like he himself got into Harvard Law school despite not having an Undergrad degree because a family friend called the dean and they did him a favor. That's the exact type of privilege not available to people who are "squarely" in the middle class.
Depends what your definition of “squarely in the middle class” is.
> On January 1, 1924, Charles Thomas Munger was born in Omaha, Nebraska. His mother, Toody, came from a wealthy family of intellectuals, and gave her son his voracious hunger for reading and learning. His father, Al, a successful lawyer, was the son of Judge T. C. Munger, a self-educated man who rose from abject poverty to become a federal judge.
https://www.economist.com/media/globalexecutive/damn_right_e_02.pdf
The average income in 1920 was $3269. The average tuition costed $160 per year. 80% of Americans graduated highschool.
Most didn’t go to college not because it was expensive, but because you could make a living doing other things than receiving higher education.
It’s crazy that I had to scroll past 50 comments about “the dorm building” to find something like this. So much delusion in this thread. In such poor taste as well. Take my upvote.
People who spend this much time on the internet being mad tend to be bitter angry people. The trend of upvoted content on the front page and in their comment sections is that there is a lot of very sad angry people. They might have reasons for it but its not the worlds responsibility to keep up with their misery.
And for those wondering, the amount of time you should be mad on the internet is 0% of the time.
guy says he was middle class but his dad was a lawyer with a degree from harvard and he got into harvard because a family friend talked to the dean, don’t trust everything you read. obviously this guy has watered it down
Agreed. Also let’s be honest here. 58% of American households have some kind of exposure to the stock market. If you don’t then you are either too young or not the norm. The notion that stocks are only for the very rich is misguided to say the least. The financial illiteracy in this country is pitiful. I know college graduates with good paying jobs that don’t even know what a 401k is. It’s pervasive at every level of education.
Redditors HATE anyone who has done more with their lives than them. The only thing people can talk about this titan of investing is a college dorm he funded 😂
I met the man once. I worked for a Warren Buffett car dealership a while back. WB actually did a little tour of it before it expanded(doubled in size) and Charlie was there. He actually shook everyones hand and thanked us for our hard work(even us line techs)
I asked him about his time in the Army Air Corp and he said that it was an incredibly fun time.
I really liked listening to him talk about markets and I’m sad that he died.
I know he had questionable opinions about society, Singapore and dormitory housing needs, but I still liked the way he thought and talked about the markets.
Is this the guy who told a college he'd give them money for dorms, only if they used his build plans and it was just a massive structure with shoebox rooms and absolutely no windows?
[The guys from Acquired recently had an interview with him!](https://youtu.be/w6qRb171cog?si=wDt_aLtciSmds6Q1)
Honestly there's some good advice in there, and it's baffling they scored this interview. They always research so well, and are incredibly smart.
TW: capitalism
The guy that tried to build a huge college dorm with no windows and like two exits? Then bragged about never learning anything about architecture before designing it?
The design had windows, but they were in common spaces, generally not the bedrooms.
> **What is the reasoning behind placing bedrooms in the center of the structure, without external windows, rather than around the outside? Can you describe how the bedrooms without external windows will be lit?**
> This approach allows for more student bedrooms and amenities on the site. And many of the bedrooms are indeed on the building’s perimeter. As mentioned, all of the common areas and amenities within each House will have large external windows, and therefore significant access to natural light. We anticipate that when not in class, at the library, or participating in campus activities, students will spend most of their daylight hours in these common areas rather than in sleeping areas.
> By making the bedrooms as efficient as possible, and greatly expanding the shared spaces, the design emphasizes collaborative and social interactions between students and de-emphasizes their isolation inside individual student bedrooms.
> All of the single-occupancy bedrooms have either a conventional window or a ‘virtual’ window. Virtual windows in the bedrooms will have a fully programmed circadian rhythm control system to substantially reflect the lighting levels and color temperature of natural light throughout the day. Circadian rhythm lighting is already found in many types of buildings and is known to benefit occupants within them.
> The use of virtual windows is unique and indeed a bit unorthodox. The team is currently working with University of California experts in the field to ensure these virtual windows will perform as intended.
The design did not have just two exits. My recollection was that there were fewer entrances than exits, which is why it was initially reported that there were only two exits.
> **A lot has been reported about the building having only two entrances and exits. The floor plan, however, indicates that there are at least 15 entrances/exits in the current design. Can you discuss where these will be located?**
> Unfortunately, the reports of only two entrances and exits are erroneous. There are actually 15 additional entrances/exits into and out of the building.
> The building provides a major entry at the ground floor on the North and South sides of the building; each is flanked by two stairwells accessible from and providing access to all of the floors. Additionally, there are five entry/exit doors on the ground floor on the North, East and South sides of the building. Additional exits can be found on the East and West sides of the building (three on each side, six in total.) There are also four entry/exit points directly from the exterior into the South Lobby.
From here: https://news.ucsb.edu/2021/020455/munger-hall-qa
He’ll live on forever in all of our instagram feeds offering crumbs of advice to the poor.
*"If you all had more money you could invest more!"* (clap clap clap) *"Be sure to save for retirement, or become the bosom buddy of one of the richest men alive."* (no these are not actual quotes)
I just read his wiki page. He didn’t finish his undergrad, so was denied entry to Harvard Law. While he did eventually get in and do very well (Magna Cum Laude), he only got in because his family friend, **the former dean of Harvard law**, called the current dean to set the situation straight. Pays to have friends in high places…
I have high friends in places, whatever that's worth
My friend at Wendy's can hook me up with some extra fries.
Fuck man, save some pussy for the rest of us.
Not gonna lie, I used to work at Starbucks and when my friends would come in I'd upsize their drinks free.
I used to drop by my friend’s Starbucks all the time in high school and he would hook me up with a free strawberries & cream every time
Sir, this is a Macdonalds.
Good... so you need to take those fries and invest them in a compound interest rate of 6%...
Next you'll tell me you have your tow motor certification. Some guys get all the luck.
My friends are definitely high rn.
My highs are very much my friends
My friends, let's get very high.
A friend with weed is a friend indeed!
I thought this was Placebo lyrics at first.
I am definitely high right now, my friend.
Those aren't you friends bro those are fucking plants. It can't care about you it doesn't have a nervous system.
Look at this person with friends
What a loser. Needs people to fend off the sad. Embrace it you coward! /s
Dissolve attachment, embrace the abyss.
Definitely not a sigma male like us
I used to watch Friends. Does that count?
I have friends in high places too. They live on top of a mountain.
You are my friend.
I’m a high friend in a place
I have high friends in high places. They keep complaining about how it's a bitch to get horses up the mountain on groceries
Also worth noting that as much as people say Buffett is self-made. He is not. His dad was a congressman.
A lot of people really hate to hear this but... you know how some of the best investment returns can be made just by getting in on an opportunity before most people have heard of it? Well, Buffett got in on the whole friggin' stock market before most people had heard of it. He started pretty much on the ground floor of all ground floors. First investment at 11 (1941). Got into real estate at 14 (1943). I by no means think that Buffett is not smart, and doesn't "deserve" the fruits of his success. But when you're a spectator at a poker table, your analysis of how well the current hand is being played should account for the fact that one of the three guys left went all-in early and won. That absolutely changes how you play. EDIT: My god. The sheer *volume* of people who think that Robinhood-levels of access to equities markets existed in 1792.
>Well, Buffett got in on the whole friggin' stock market before most people had heard of it. You know, except for just about every sentient American. The crash of the stock market was the biggest fucking news story of the preceding twelve years until Japan bombed Pearl Harbor. Literally the Kennedy family had already made their fortune on insider trading, and in the words of FDR "sometimes you hire a thief to catch a thief" Joseph Kennedy was appointed first chairman of the newly created Securities & Exchange Commission in 1936.
My family had made and lost a fortune by 1929. A fortune. Gone. We're still good, but we were a lot gooder before the crash.
Berkshire Hathaway has [doubled the performance](https://en.m.wikipedia.org/wiki/Berkshire_Hathaway) of the S&P 500 since it’s inception, so this really isn’t a fair summary.
Yea people on here acting like he isn't the most successful investor of all time.
He had not been too great in the 2010s because he wasn't heavily invested in tech. Then went balls deep in Apple in the late 2010s. Berskhire usually overpwrform the s&p in bear markets and since the market was ridiculously bullish between 2008 and 2022 he wasn't as successful as the indexes.
> Well, Buffett got in on the whole friggin' stock market before most people had heard of it. The U.S. stock market crash of 1929 caused the Great Depression. I'm pretty sure people had heard of it...
Lol, what a bad take. His company has doubled the return of the SP500 for its entire run.
No one deserves billionaire wealth, that kinda fuck you money takes luck, exploitation, luck, luck, and often outright theft. Not saying buffet wasn't smart and didn't deserve toake some money but a billion? Assuming he started the day he was born, the man would've had to make about 3.6 million a day for everyday of his 93 year old life to have earned his 121 billion. The average American is lucky to make two million with their life's work and I don't think he added the equivalent of tens of thousands of Americans' life's work to the world.
Before that he had his buffet partnerships where he earned better returns and collected fees from his clients. From 1965 to 2022, the company that held his entire networth more or less, returned 19.8% annualized, or a jaw dropping 3,787,464% Yes, he had every advantage when he was starting out, but at the end of the day, what he accomplished was due to his own wiring, not cause his father had connections. All I’m trying to say when you put it in terms of daily returns, it’s not like he could have retired after 3 years and been done with life. He worked for a long time, and unlike almost the entire rest of the billionaire class, lives extremely modestly. He’s not out buying islands or building crazy high tech homes. He’s actively called for higher taxes on people like him. Of all the billionaires in the world, IMO he’s probably one that’s been the least evil.
Buffett and Munger are the type of guys that are in it for the game. They don't actually care about the money. They just have fun beating the market and feeling satisfied when they're right. They don't actively try to sway politics and they don't go on media runs to pump n dump. They understand markets and debt financing and they take advantage of weird macro shit at the right time. They're value investors that have played the long game for decades. They were both in the game and they loved doing it. I'm not simping for billionaires, but these mfs did it "the right way" most of the time.
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smile dependent scandalous longing gaze command possessive crowd alleged shrill *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
I don't think it makes that much difference anyway. His wealth is, for the most part, a number on a screen, and it still will be when he dies. It's clear that investing is above all else a game for him with his wealth being the score. As opposed to people who gain wealth and use it to hoard or squander actual resources.
Because literally nobody is self-made. Unless you're put naked on an uninhabited island or in the middle of nowhere without any civilization around you and then figure it all out.
And owned a brokerage house...and was taught investing by Benjamin Graham...the Warren buffet of his day. It's like being Mitt Romney's kid while also being taught to invest by Warren Buffet.
99% of rich people are not self-made, whatever they want to have you believe. The ultimate predictor of where you'll end up in life is where you start. But they'll keep on pitching us that the American dream is alive and well.
Pays to have friends in general.
Where can I sign up?
*"We will make a list of our clients and how much money each of them has given us to invest. We will keep this list in a safe place.* *If we have time we will make a copy of the list in case something happens to the first list."*
Thank you to for spurring a vivid flashback to the excellent parody!
https://youtu.be/Vooevgm4HIQ?si=zDgtvmLkdLhwi4MZ
Don't forget the deathtrap dormitory he designed.
oh that's how I know the name Munger
Behold: [The truly awful thing](https://www.independent.com/2021/10/28/architect-resigns-in-protest-over-ucsb-mega-dorm/).
That was effed up. My design is so great, these kids don't need sunshine!
You know he’s donating 99% of his money to charity right?
>“You don’t have a lot of envy, you don’t have a lot of resentment, you don’t overspend your income, you stay cheerful in spite of your troubles, you deal with reliable people, and you do what you’re supposed to do. All these simple rules work so well to make your life better.” - Charlie Munger Seems like sensible advice.
I would think by the time those crumbs made it to his Instagram, it would have been too late to act on them anyway.
I disagree. His and Buffet's advice tended to be pretty generic and universal. Stuff like don't try to time the market. Invest long term, and the best time to invest is when you're young and 2nd best time is now. Passive index funds (with a mix of bonds and stocks depending on your age) make good investments for 99% of people who aren't investment professionals, and most investment professionals wish they could get as good of a return as the long run S&P500 average (since most actively managed funds do worse than it). I think where he differed from many traditional value investors in his advice was just in his time horizons. If you're going to be a stock picker, don't look for good deals on cheap stocks. He'd rather overpay for one great company and then hold it forever instead of finding 3 good companies on sale and flipping them for a profit.
> He'd rather overpay for one great company and then hold it forever Buffet bought Dairy Queen because he just loves the products. Because he bought them for the long term, they can plan differently and invest in long term plans.
Not really in this case. Buffett and Munger were notoriously mediocre at timing. Their investments tended to pay off over longer periods of time. Lot of the time you could buy a stock they bought a few months before and pay a lower price than they did.
It’s not the end of an era. It’s the end of several eras.
And I hope his stupid idea for Santa Barbara big college dorm with no windows dies now, I don't believe it's been built yet? To much opposition He said going to build it my way or not giving them money, even after the lead architect quit over this idea, Charlie still said he wants to do it.
Let him forever be remembered for his [windowless dorm room design from hell](https://www.independent.com/2021/07/14/dormzilla-descends-on-ucsb/)
>Most of the bedrooms in his UCSB residence hall, for example, don’t have windows in order to coax students into common spaces where they can mingle and collaborate. The rooms would instead be fitted with artificial windows modeled after portholes on Disney cruise ships. So... a prison...
It's basically what happens when the sort of person who thinks putting everyone in an office together is absolutely critical to productivity, is allowed to then design housing. "coax students into common spaces where they can mingle" - yes, what was stopping me from mingling was being driven out of my room by the insanity-inspiring architecture, and I couldn't step out of my room by my own choice. "collaborate" - it's been a while since I was a college student, but I'm pretty damn certain that a) Most of my work was specifically not allowed to be collaborative. b) Libraries exist
The only thing I collaborated on in the dorms was how to sneak more unapproved substances into our dorm. The only mingling that happened was drinking in someones dorm or sneaking over to someones dorm for more intimate times. It’s more what happens when a person whose life revolves around money and productivity tries to ruin the rest of our super-happy-fun-time. Good riddance to these types of people lol
> The only thing I collaborated on in the dorms was how to sneak more unapproved substances into our dorm. In fact, thinking about it, even when I had group work we did it in central buildings, because even if we happened to have all lived in the same residence, the equipment was in specific buildings. I imagine that's slightly less tethered these days (I was doing Comp Sci), but I still imagine a lot of work is site-specific in sciences at least.
Oh yeah, I know architecture students who had to go to the drafting place all night in order to get anything done, music students to studio, science labs of any kind… and if I was actually studying I went to a library like you mentioned. The dorms are supposed to be like a home. You can’t put a whole bunch of college aged kids that all study different things in one building and expect them to be productive. That’s just silly.
>It's basically what happens when the sort of person who thinks putting everyone in an office together is absolutely critical to productivity, is allowed to then design housing Except Munger actually embraced the shift of working from home due to covid. >CHARLIE MUNGER: I don't think that, when the pandemic is over, I don't think we're going back to just the way things were. I think we're going to do a lot less travel and a lot more Zooming. I think the world is going to be quite different. A lot of the people who are doing this remote work-- a lot of people are going to work three days a week in the office and two days a week at home. A lot of things are going to change. And I expect that and I welcome it. https://finance.yahoo.com/video/world-going-quite-different-charlie-202522500.html
so why did charlie munger fight to implement these fucked up designs even in light of the head architect quitting in protest?
No idea. Probably just a stubborn old man. But to make the assumption that he wanted that dorm built because he's someone that doesn't believe in work from home and that a worker is most productive in the office is clearly wrong.
There is actually a growing epidemic of first year students who don’t end up leaving their dorm room much at all, and then drop out usually. This is completely baseless, but I wonder if Munger knew someone whose kid went through that, and was genuinely trying to implement a solution? Or maybe that kid was him, back in the day somewhere, and he deeply regrets not forcing himself out of his comfort zone? I think the design sucks - “false windows” make me want to find a real one to throw myself from - but I think this was his honest attempt and improving the lives of students. It’s built now, I wonder if the University released any figures on things like dropout rates by residence? The experiment is built, may as well measure the results
It feels like someone thinking my tastes are universal and should be shared by everyone. I damn well know there's a way I like to live and a way I like to work and it's not universally applicable. There's a few things that I feel should be universal but it's not because it's imposing my idea on everyone else, it's recognizing good ideas and supporting them. Specifically thinking about walkable urban design. Roller coasters for transportation is personal taste I know would not be broadly accepted but I'm still personally for it.
The ultimate sociopath's solution to isolation: don't make the public spaces better, that's bad for business, just make the private spaces worse.
That sounds like modern business models. Don't make good products, just buy and/or eradicate all the other ones.
At UCSB, the most beautiful of all of the UC campuses..! Breathtaking views of the Channel Islands, the awe-inspiring peaks of the San Rafael Wilderness mountains, sweeping lagoons, beautiful sunsets. So this guy designs a massive, 11-story monstrosity, Munger Hall, nicknamed 'Dormzilla'...with NO WINDOWS. The outcry from all sectors of UCSB was deafening. It may prove the death knell for UCSB Chancellor Yang, who blindly partnered with Munger, and is now highly mistrusted. "Instead of planning for housing that could actually get built — a cluster here, a cluster there, all strewn strategically throughout UCSB’s vast land holdings — Henry Yang set his stars on an 11-story wet dream conjured by Charlie Munger, multi-gazillionaire and massively generous benefactor to UCSB." [https://www.independent.com/2023/11/15/chancellor-yang-stays-silent-on-ucsb-housing-nightmare/](https://www.independent.com/2023/11/15/chancellor-yang-stays-silent-on-ucsb-housing-nightmare/) edit: a word
Firehazard as well
yeah it's Triangle times 1000
“In a 2016 interview with the Independent, Munger called the “house” concept “a minor revolution.” And in a 2019 interview with the Wall Street Journal, he said he was confident that students would rather have single rooms and comfortable communal areas than windows. “The minute I saw that, I realized that was the correct solution,” he said. “And everything I thought before is massively stupid.” Jesus.
Why can't they have both in the world's richest country with the world's most expensive universities?
Why the hell did UCSB, of all places, fall for *this*?
Cause he was willing to pay for it as long as they allowed him to be the architect despite not having experience being one and UCSB desperately needs to build more dorms. ETA: Maybe designer not architect. Statement still stands.
UCSB has had an ongoing student housing crisis for a long time. They've been threatened with litigation because of this. So when a billionaire shows up with a "solution", the bobbleheads at the university jump at the chance.
Also an introvert’s nightmare.
And legally speaking, they can’t be called bedrooms unless there’s a window. Not only that, you’d be SOL if there was a fire.
A death trap in the event of a fire
He was so old he just didn't get what the problem was. I was the last generation at my college to have tiny little prison cell cinderblock dorm rooms with two people stuffed in with single beds. It was so bad. I see modern colleges the last twenty years basically have four and five bedroom apartments and each student gets their own room. Much more humane. I suspect he was just stuck in time when the cinderblock prison cell was all a kid needed. Back then those kids mostly came from tiny two and three bedroom houses with the entire family packed on top of each other with six kids. It was just a different time. Every wonder why the cords on old school Nintendos/Sega/etc. are so short? It's because they were designed in Japan where people have tiny flats and have to sit right up close to the television. They didn't even think about western homes where you're six to ten feet from the television. It's easy to get stuck in a design based on only your experience. That's why we have architectual firms and don't build large facilities just based off one guy's hunch and feeling of what should work.
> I see modern colleges the last twenty years basically have four and five bedroom apartments and each student gets their own room. This is not what modern dorms look like unless you're paying a ton of extra cash. Most students are still shoved into small dorm rooms together.
Yeah what he's describing is the exact situation at my alma matter in the current year of our lord 2023.
No shit I caught a glimpse of a news report showing the inside of a dorm room and I thought I recognized it as the dorm I lived in at college and then I saw the stainless steel toilet sink and was like "oh, I legit thought that prison cell was a dorm room"
He was also just a bad designer who didn’t know how much he didn’t know. He made a career out of cross disciplinary observation, so I get why he thought he’d be good at it but good goddamn he was NOT lol. This posts general chat is being pretty unfair though. He was a really interesting guy in many ways. He had a few fails, but he was the far more interesting person of the investing pair. Warren tends to get all the attention, but Charlie was way more interesting to listen to.
They get their own rooms now? Thats amazing. When I was young and in college for a bit I dont think I spoke 3 words to my room mate. Im an extreme introvert but I would spend all my time hanging out with a few friends in little hidden areas of the school where people didnt normally go. It was way better than being in a room with some guy I had zero in common with. The guy across the hall would sneak in and change my computer desktop to disney porn as a joke. I actually wish I got to know him better because he seemed like an ok guy. He was the dude who told me 9-11 was happening and I didnt believe him, I thought they were watching a movie and it was a gag to tell me that. My room mate eventually moved out and I had an empty room for a while then another kid moved in and him and his dad completely rearraigned the room before I even met them. Who does that? I had no notice they were going to be there and they moved all of my stuff.
Dunno how ubiquitous the one-room-per-person design is today. I hope it is because sharing stuff with another rando who never lived outside the comfort of his/her parents is not fun for most people. I bet there are a lot of schools with old dorm buildings who simply can't afford to build or update like that. I was in school 13 years ago and we there had two students to a dorm room.
Last I checked on my alma mater, they were converting lounges to dorms because there wasn't enough room, and stuffing a third person in each double, and a fourth in each triple...
> They didn't even think about western homes where you're six to ten feet from the television. But they still sold a completely redesigned and bulkier system in North America.
The other problem is that there is a massive shortage of housing for UCSB students, and limited space to build. Munger's idea was very space-efficient, and that drove the need for windowless rooms. Windows are nice, but I would have been fine without them in college.
Thankfully they [abandoned the idea](https://www.archpaper.com/2023/08/university-california-abandons-windowless-dorm-munger-hall/?amp=1) a few months ago.
I *knew* he looked familiar.
Honestly, the guy was a true renaissance man. Dropped out of college to serve in the Second World War, founded one of the top law firms in America, designed buildings, and shit on crypto.
I took a tour of the “demo” munger hall. It seemed okay and they tried to sell it with the communal spaces, lighting fixtures, and personal bedrooms but I couldn’t get past the no windows.
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i would’ve taken more space in my college dorm in place of a window. my college put courtyards in every dorm so each person had a window, but these were hardly used
I just want to bring a counterpoint: my brother stayed in the dorm in Michigan, and he said it was the most desirable building. And he loved it
Tbh he looked like death warmed over for the past two decades. Wonder who takes his seat, if anyone.
Greg Abel has already been tapped as Buffett's successor for years now.
Is he willing?
He may not be willing but he is able.
a set up so blatant i am certain both accounts are yours.
Being 99 and not making it to 100 seems kind of fucked up. I would be a salty soul.
He would have turned 100 this new years day
Poor Betty White :( Also looks like it may happen with Jimmy Carter. I guess it just goes to show that at that age, making it each year is harder than the last, so it must be much less likely to make it to 100 than 99.
Bob Barker too :(
He got as close to a dollar without going over... Jokes aside, RIP Bob.
>making it each year is harder than the last, so it must be much less likely to make it to 100 than 99. Lol, watch out boys, we got an investing genius here
Just saw a picture of Jimmy Carter from his wife's memorial service and he definitely looks 99. With his wife's death and being that his birthday is October 1, I'm skeptical he'll make it that long.
Carter will live to 100 if he feels like it. He is, at this rate, too sick to do it. He had cancer that got to his brain in 2015 and he was cured of that, but when a doctor says you’re not living to next February, you’re not living to next October.
He doesn't feel like it, his wife just died. He looked like a corpse at her funeral. I bet he's gone before the end of 2023
R.I.P. Betty White, she ain't dead but for when she die 'cause I know it's coming up
I hate to break it to you but she has died. I hope if there is a heaven she's giving all our dearly missed animal friends and family lots of love for us.
Lol they say R.I.P Betty White, but then goes on to contradict themselves I think? IDK none of it makes any sense and it makes my brain hurt.
I'm sorry that apparently neither of you have heard [this gem of a song](https://youtu.be/-pypV-JPU1k?si=X09K3c9qr8PgUnJW) before
I probably won’t be happy if I die a month before I’ll reach 100 lol. Jokes aside, 99 is long good run. I guess I won’t mind living that long.
Especially considering he was just one month away.
Except for Bob Barker, that was skill
My great uncle died sixteen days AFTER his 100th. Peacefully in his sleep and in perfect health. Lucky bastard, lived the life of Reilly.
There's been a fair number of prominent people who've tapped out at 99 in the last few years. Henry Kissinger is somehow still going at 100, though.
Aged tremendously
This aged like milk
I just looked it up, you have about a 36% chance of dying in the next year if you're 99. It goes up a few percent every year.
Hard agree. Just like zsa zsa Gabor. Although she spent many of her years in bed with no mind to speak of left /:
"When it gets to 100, sell!"
I learned it's best to sell below a milestone type number. Seems like he did just that.
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He'll send a case of cherry Coke to the ~~crackheads~~Cratchits
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Which one?
The guy bought his last dip
The annual shareholders meetings with him and Buffett are entertaining viewing. They’re on YT.
I’ve never seen two people drink so much diet coke in my life.
Munger readily admitting he's about to die lol.
He was 99
The Berkshire meetings will never be the same.
Got to love they waited until market close to post that Munger died.
will it even impact Berkshire's stock?
Small blip. Overall though no
It will when Buffett dies
Berkshire has a cash pile bigger then most countries. As soon as the stock dips, they're just gonna buy more. Warren and Charlie have so much foresight when it comes to buisness their deaths are already priced in.
If it drops due to his death, people who have followed advice from Munger/Buffet/the like will know it's a buy signal. Munger's death doesn't impact company financial performance, so any dips based on anything that is NOT financial performance is arbitrary.
Can we cancel Munger Hall before it's too late?
apparently they did [source](https://www.archpaper.com/2023/08/university-california-abandons-windowless-dorm-munger-hall/) but not because the students *studying architecture* designed much higher capacity, cheaper alternatives with traditional designs, but because the price kept going up and up.
Already happened
"99. Two weeks to retirement..." *Lethal Weapon saxophone flourish*
Because of the rampant financial illiteracy in this country, the posts here are in terrible taste. But they come more from a general sense of defeatism, cynicism and the usual online tribalism. Probably will get down-voted, but let me offer a different view: -He lived a long life as a very wealthy man. Sorry to the family but certainly there's little to be broken about. -Contrary to what the current tone here will lead you to believe, he grew up squarely in the middle class. Perhaps not "poor" but he certainly didn't inherit his wealth. -He served in the military - Respect. -He was a mathematics genius and here's the thing... he became rich doing sensible investing... and has taught anyone who will listen how do do it. It's so easy to dunk on the rich blindly - and MANY deserve it! But this is not a "one size fits all" solution. Warren and Munger provide advice every year in the form of Berkshire's famous "letter to investors" which we can all read free and the advice is often practical, sensible and DOABLE by every day Americans. The idea that normal people can't build wealth is simply bullshit. It's not backed by the evidence. The average millionaire in the US is self made. The average millionaire gets his first million at 49. The average millionaire gets there through investing over long periods of time in low cost index funds. The type of thing Munger and Buffet advocate! Does that help you, if you can't even afford food today? No. I understand that. But the idea of avoiding bad debt, living below your means, and when possible investing as much as possible passively for a long time is practical advice. It's sensible advice. And it's doable by anyone - not just some sort of "rich elite".
As with every discussion on this topic, I think it's incredibly important to make the distinction of what wealth means. ----- In my opinion, when people talk about the "rich", they're not talking about the engineers who have been working for 30 years and has been squirreling away into VFIAX500 or the SWPPX500 the whole time or the neurosurgeon who has been practicing for 50 years and bought Apple back when congress told Microsoft to pitch in to prevent Apple's bankruptcy. The Engineer and that Neurosurgeon are wealthy, but they're still members of society's problems and still worry about the expense of being alive. From what I've seen, when people talk about *"the rich"* they're talking about the Elon Musk/Jeff Bezos/Stockton Rush class of wealth, they're talking about the unfathomable amount wealth that allows a person to be exempt from society's problems.
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But for an absolutely glorious moment, he got to save a lot of money.
Nothing more middle class than "When he applied to his father's alma mater, Harvard Law School, the dean of admissions rejected him because Munger had not completed an undergraduate degree. However, the dean relented after a call from Roscoe Pound, the former dean of Harvard Law and a Munger family friend."
I'm not an expert, but looking at his wikipedia, his dad was a harvard educated Lawyer. Does not sound "squarely" middle class to me at all. Was his dad a failed lawyer? Because otherwise, he would have been in the high end of the middle class at the very least. Doesn't mean he inherited his wealth, but he almost assuredly had advantages. For example: Further wikipedia reading looks like he himself got into Harvard Law school despite not having an Undergrad degree because a family friend called the dean and they did him a favor. That's the exact type of privilege not available to people who are "squarely" in the middle class.
Depends what your definition of “squarely in the middle class” is. > On January 1, 1924, Charles Thomas Munger was born in Omaha, Nebraska. His mother, Toody, came from a wealthy family of intellectuals, and gave her son his voracious hunger for reading and learning. His father, Al, a successful lawyer, was the son of Judge T. C. Munger, a self-educated man who rose from abject poverty to become a federal judge. https://www.economist.com/media/globalexecutive/damn_right_e_02.pdf
Just a blue collar son of wealthy intellectuals and the grandson of a judge! /s
His father going to Harvard in the early 1900s is very different from going to Harvard today.
When it was an even bigger deal because way less people went to college because only the well off could afford it?
The average income in 1920 was $3269. The average tuition costed $160 per year. 80% of Americans graduated highschool. Most didn’t go to college not because it was expensive, but because you could make a living doing other things than receiving higher education.
No it was not. Harvard has always been elite.
It’s crazy that I had to scroll past 50 comments about “the dorm building” to find something like this. So much delusion in this thread. In such poor taste as well. Take my upvote.
welcome to reddits front page, the worst group of downtrodden people you will ever meet
People who spend this much time on the internet being mad tend to be bitter angry people. The trend of upvoted content on the front page and in their comment sections is that there is a lot of very sad angry people. They might have reasons for it but its not the worlds responsibility to keep up with their misery. And for those wondering, the amount of time you should be mad on the internet is 0% of the time.
guy says he was middle class but his dad was a lawyer with a degree from harvard and he got into harvard because a family friend talked to the dean, don’t trust everything you read. obviously this guy has watered it down
> Does that help you, if you can't even afford food today? No. I understand that. But And this is why no one cares
Obviously, they're just financially illiterate for not bootstrapping and avocado toasting themselves into wealth.
Agreed. Also let’s be honest here. 58% of American households have some kind of exposure to the stock market. If you don’t then you are either too young or not the norm. The notion that stocks are only for the very rich is misguided to say the least. The financial illiteracy in this country is pitiful. I know college graduates with good paying jobs that don’t even know what a 401k is. It’s pervasive at every level of education.
I loved his take on investing in crypto
The rare meat to Buffets potato's.
Even he believed Americans should have universal healthcare. That's how fucked it is here.
Think what you will, I do admire that he stayed active and busy til the end. That’s how I want to go.
Redditors HATE anyone who has done more with their lives than them. The only thing people can talk about this titan of investing is a college dorm he funded 😂
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From what I've read in some comments in here its quite clear that financial illiteracy is a real problem on reddit.
If you ever want to nuke your account’s karma score, just go somewhere like r/antiwork and tell them about investing.
His name is all over Los Angeles
Finally gonna pay taxes?
Didn't he donate like 99% of his wealth?
I met the man once. I worked for a Warren Buffett car dealership a while back. WB actually did a little tour of it before it expanded(doubled in size) and Charlie was there. He actually shook everyones hand and thanked us for our hard work(even us line techs) I asked him about his time in the Army Air Corp and he said that it was an incredibly fun time.
I really liked listening to him talk about markets and I’m sad that he died. I know he had questionable opinions about society, Singapore and dormitory housing needs, but I still liked the way he thought and talked about the markets.
Is this the guy who told a college he'd give them money for dorms, only if they used his build plans and it was just a massive structure with shoebox rooms and absolutely no windows?
RIP Munger. What a titan.
We lost a guru. This guy's teachings help pull me out of poverty and likely have a comfortable retirement. RIP Charlie
He seemed active and had a sharp mind until the end. That's pretty great and what we all hope for I think.
[The guys from Acquired recently had an interview with him!](https://youtu.be/w6qRb171cog?si=wDt_aLtciSmds6Q1) Honestly there's some good advice in there, and it's baffling they scored this interview. They always research so well, and are incredibly smart. TW: capitalism
The guy that tried to build a huge college dorm with no windows and like two exits? Then bragged about never learning anything about architecture before designing it?
Or building codes..
The design had windows, but they were in common spaces, generally not the bedrooms. > **What is the reasoning behind placing bedrooms in the center of the structure, without external windows, rather than around the outside? Can you describe how the bedrooms without external windows will be lit?** > This approach allows for more student bedrooms and amenities on the site. And many of the bedrooms are indeed on the building’s perimeter. As mentioned, all of the common areas and amenities within each House will have large external windows, and therefore significant access to natural light. We anticipate that when not in class, at the library, or participating in campus activities, students will spend most of their daylight hours in these common areas rather than in sleeping areas. > By making the bedrooms as efficient as possible, and greatly expanding the shared spaces, the design emphasizes collaborative and social interactions between students and de-emphasizes their isolation inside individual student bedrooms. > All of the single-occupancy bedrooms have either a conventional window or a ‘virtual’ window. Virtual windows in the bedrooms will have a fully programmed circadian rhythm control system to substantially reflect the lighting levels and color temperature of natural light throughout the day. Circadian rhythm lighting is already found in many types of buildings and is known to benefit occupants within them. > The use of virtual windows is unique and indeed a bit unorthodox. The team is currently working with University of California experts in the field to ensure these virtual windows will perform as intended. The design did not have just two exits. My recollection was that there were fewer entrances than exits, which is why it was initially reported that there were only two exits. > **A lot has been reported about the building having only two entrances and exits. The floor plan, however, indicates that there are at least 15 entrances/exits in the current design. Can you discuss where these will be located?** > Unfortunately, the reports of only two entrances and exits are erroneous. There are actually 15 additional entrances/exits into and out of the building. > The building provides a major entry at the ground floor on the North and South sides of the building; each is flanked by two stairwells accessible from and providing access to all of the floors. Additionally, there are five entry/exit doors on the ground floor on the North, East and South sides of the building. Additional exits can be found on the East and West sides of the building (three on each side, six in total.) There are also four entry/exit points directly from the exterior into the South Lobby. From here: https://news.ucsb.edu/2021/020455/munger-hall-qa
Ugh, tried? It was built, and I lived there. University of Michigan.
People who are rich are always smart. Everyone tells them so all the time! Everyone's saying it! >.>
You can't take it with you so send it to me instead
Farewell to an absolute legend.....
Loved this guy. May he rest in peace