This past summer I had the incredible opportunity to talk real estate and investing for 90 minutes with Charlie Munger at his home.
It was one of the most surreal and incredible moments of my life.
I will put together a full thread in the months ahead, with many takeaways.
One of the things that stood out the most:
How crazy it seemed to Charlie that people think they have any idea where interest rates are going.
Changing minds isn't about attacking people's views. It starts with seeking to understand their views.
"You're wrong!" signals arrogance and elicits defensiveness.
"I'm surprised to hear that. Can you walk me through your reasoning?" shows curiosity and invites thoughtfulness.
Anyone who believes that a successful smartphone manufacturer like Xiaomi or Apple has a better chance of becoming a successful BEV manufacturer than legacy automakers or BEV start-ups has understood absolutely nothing of the automotive industry.
In a special episode of Honestly, we asked our Senior Essay Contest winner, Michael Tobin, to read his essay along with Ruby LaRocca, the winner of our teen contest earlier this year.
Listen to “Wisdom from a Teen and a Grandfather—60 Years Apart.” https://t.co/CxaljQwPK9
"Is it a sane constitutional principle that by allowing displays by, say, the Boy Scouts or the Baptists, the legislature must also allow displays celebrating the Ku Klux Klan, or the alleged glories of slavery? The answer to these questions is obvious." https://t.co/fUxQbMlOUe
West coast is amazing in many ways, but tough home base if you love to travel outside the US.
10 hours to Europe is rough.
East Coast much better when it comes to international travel.
The most valuable intangible assets you own are:
-Time
-Intelligence
-Ability to earn income
Wise use of the combination of the above will almost assure you the accumulation of valuable tangible assets over time.
Kthxbye.