3min chapter

We Study Billionaires - The Investor’s Podcast Network cover image

TIP534: The Joys of Compounding by Gautam Baid

We Study Billionaires - The Investor’s Podcast Network

CHAPTER

Getting the Most Out of First Principles

As you read increasingly more, your capacity to read and absorb more knowledge increases rapidly. Munger acquires much of this by studying biographies and learning from who he calls the imminent dead that have the right ideas. You'll want to figure out where you're going and learn from those who have been there before. Jeff Bezos is brilliant at thinking at first principles. Rather than focusing on what will change in the future, he's more focused on what he knew wouldn't change.

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