Highlights about Charlie Munger

Here are my Readwise highlights about Charlie Munger organized by key themes:

Learning and Knowledge

Continuous Learning as Life Philosophy:

• "I think a life properly lived is just to learn, learn, learn all the time...The one feature that comes through is the continuous learning" - Charlie Munger at the 2017 Berkshire AGM
• "The game of life is the game of everlasting learning." —Charlie Munger
• "Charlie Munger said that lifelong learning is paramount to long-term success."

Reading and Deep Study:

• "Develop into a lifelong self-learner through voracious reading; cultivate curiosity and strive to become a little wiser every day." — Charlie Munger
• Charlie has read hundreds of biographies and recommends doing the same
• "There is no better teacher than history in determining the future … There are answers worth billions of dollars in a $30 history book." - Charlie Munger

Mental Models and Decision Making

Multiple Mental Models:

• "You must know the big ideas in the big disciplines and use them routinely — all of them, not just a few. Most people are trained in one model — economics, for example — and try to solve all problems in one way. You know the old saying: 'To the man with a hammer, the world looks like a nail.' This is a dumb way of handling problems."
• Munger advocates for a "latticework of mental models" approach to thinking

Rigorous Opinion Formation:

• "I never allow myself to have an opinion on anything that I don't know the other side's argument better than they do."
• Never allow yourself to have an opinion on a subject unless you can state the opposing argument better than the opposition can

Focus and Concentration

Against Multitasking:

• "When I want to read something I can tune everything else out… I think people who multi-task pay a huge price. They think they are extra productive, and I think when you multi-task so much you don't have time to think deeply about anything. You are giving the world an advantage you shouldn't."
• "I did not succeed in life by intelligence. I did because I have a long attention span."

Investing and Business Wisdom

Circle of Competence:

• "You have to figure out where you've got an edge and play within your own circle of competence. If you play games where other people have the aptitudes and you don't, you're going to lose."

Market Psychology:

• "Stocks partly sell like bonds, based on expectations of future cash streams, and partly like Rembrandts, based on the fact that they've gone up in the past and are fashionable."

Long-term Perspective:

• "You don't have to be brilliant, only a little bit wiser than the other guys, on average, for a long, long time."

Key Life Principles (from Poor Charlie's Almanack maxims)

• Find a simple idea and take it seriously
• Good ideas are rare. When you find one bet heavily
• Avoiding stupid mistakes is more important than being smart
• Don't work with anyone you don't admire
• Incentives rule everything around you
• Self-improvement has no end
• Use money to buy freedom
• Only play games where you have an edge

Personal Development

Learning from Mistakes:

• "I like people admitting they were complete stupid horses' asses. I know I'll perform better if I rub my nose in my mistakes. This is a wonderful trick to learn."

Avoiding Destructive Emotions:

• "Envy is crazy. It's 100 percent destructive. If you get those things out of your life early, life works a lot better."

The highlights show Munger's emphasis on continuous learning, rational decision-making, and building a broad base of knowledge across disciplines to better understand the world and make better decisions.