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The Worldly Wisdom of Charlie Munger

Charlie Munger

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Life

How to Be Happy and Get Rich

Vishal Khandelwal · Apr 21, 2018 · Leave a Comment

If I were to rank the books that changed my life, Poor Charlie’s Almanack would be right up there. Even after reading the book a few times, every time I turn its pages, I can feel a sense of wonder and amazement at the immense wisdom these pages carry.

Unlike what many people think, this book is not a ready reckoner on how to become a successful investor. In fact, it’s much more than that.

It’s a book on how to live a happy, sensible and rich life and in the process become a better thinker and investor. As you read through the book, some of Charlie Munger’s ideas will inspire you, and some will make you uncomfortable. But all will challenge you to think outside the box.

The third chapter of Poor Charlie’s Almanack captures “Mungerisms”, where Munger dispels hundreds of ideas on subjects ranging from life, investing, academia, financial engineering, accounting, money management business, and managements.

[Read more…] about How to Be Happy and Get Rich

Consistency

Vishal Khandelwal · Dec 11, 2017 · Leave a Comment

What happens when you do something as regularly as brushing your teeth?

At work, you become what is known as a consistent person. If you, for example, finish your tasks before deadlines almost always, you are likely to be asked few or no questions when you skip the deadline on that rare occasion. Even if you are probed for the reason, the concluding assessment for your delay is most likely to be pegged in your favour, maybe you were given less time, or there was too much for you to do.

Consistency is rewarded not just at work, but in your personal life as well in the form of good habits. Make it your top priority to be consistent as whatever you do, making consistency itself a habit. It will determine your progress every time you take up something new to do.

Confidence

Vishal Khandelwal · Dec 9, 2017 · Leave a Comment

Even if you are the least skilled person on Earth, you can scale great heights of success through sheer confidence and a belief in yourself.

A confident person is one who minimises doubt and hesitation about oneself and is ready to face his or her fears head-on. A truly confident being will not even let failure touch him or her, taking it only as a learning lesson and moving on. Repeated failure might introduce the element of doubt in a confident mind, but someone who knows the importance of being confident to take the first step again rebuilds himself/herself and tests waters yet again, knowing that he or she can be scalded, or not, the nth time.

It might be the worst that has happened to you, and you might be so broken you need plenty of time to get back on your feet again. Confidence is the building block of the foundation you might have to lay again to find you. Find it. Use it to keep your chin up and fuel those spirits that keep you alive.

The Wall of Patience

Vishal Khandelwal · Dec 8, 2017 · Leave a Comment

Patience is the key to finding an end goal in a life task. Frustration at things not working out or taking too long, impulsiveness and instant gratification are all fleeting emotions. What helps to persevere is patience.

Cultivate the habit of being patient in all that you do, even with the people who surround you. You might soon envelope your inner core with a wall of patience that can keep your mind, and heart, at peace, in the worst of circumstances.

When inspiration Strikes

Vishal Khandelwal · Dec 7, 2017 · Leave a Comment

Got that idea that had you all excited and wanting to implement immediately? When inspiration strikes, let not the moment pass by without doing something about it. The ideal thing to do would be to write it down at once and spend some time thinking the idea through. Write down details, make a note of all the other ideas you have around that thought. If you are a musician or an engineer, best would be to programme a raw version of your idea as soon as it hit you. If you are unable to do so, take a little time to put it down in your diary or journal.

Don’t let the moment pass away, come whatever may. Its that moment which is ripe with something that might just translate into something that can keep you going for a lifetime.

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