This chapter explores the importance of deep knowledge, spending time with experts, intense interest in excelling, and problem-solving techniques to enhance one's life. It also emphasizes the need to confront challenging information instead of avoiding it.
Charlie Munger, an American investor most well-known as vice chairman of Berkshire Hathaway and Warren Buffett's partner, passed away last week at 99, just one month shy of his 100th birthday.
He was a treasure trove of wisdom—which he shared lavishly with the world over the course of his life, and which will create lasting ripples long after he is gone.
10 of his insights that created a lasting impact on my life: (1) The most valuable riches take time, (2) Avoid the second arrow, (3) Develop real knowledge, (4) Success follows interest, (5) Invert, always invert, (6) Avoid the Ostrich Effect, (7) Never mimic the herd, (8) Create a "too hard" pile, (9) Live what you want to receive, and (10) Wisdom compounds.