I've always liked the story of Charlie Munger.
At 31, he was basically at rock bottom.
He was freshly divorced, had lost the house, and his son died of leukemia. Munger paid for every treatment out of pocket and was left with almost nothing.
Yet he kept going.
Instead of drowning in bitterness, he worked, he read, and he kept his head down.
With a new marriage and some stability, he began investing his lawyer's salary into stocks and real estate.
Then in 1959 he met Buffett.
Inspired by someone who was already running his own partnership, Munger founded Wheeler, Munger & Company in 1962.
The wealth started to accumulate. Through real estate projects and his growing investment partnership, Munger became a millionaire around age 43.
Many successful investments followed, many alongside Buffett, and the relationship grew close enough that working together was the only thing that made sense.
Munger wound down his partnership in 1975. Over 13 years, he had compounded at 19.8% annually, against 5% for the Dow.
In 1978, he became Vice Chairman of Berkshire Hathaway and helped build the empire it was set to become.
Somewhere along the way he lost an eye to a failed surgery, but that didn't bother him much. He still had one left. Plenty enough to read annual reports.
When most people think of Munger, they just see a rich old wise man who almost stood in Buffett's shadow. But the truth is that Munger's wisdom didn't come from nowhere.
He worked himself up from rock bottom, a place where many others would have stayed down, to become one of the most respected investors in history. And a billionaire on top of that.
He never let it go to his head. He lived in the same house in Pasadena for decades. The place didn't even have AC. He cooled it with ice and fans.
Hard to find a better role model than that.
JUNE 2028.
The S&P is down 38% from its highs. Unemployment just printed 10.2%. Private credit is unraveling. Prime mortgages are cracking. AI didn’t disappoint. It exceeded every expectation.
What happened?
https://t.co/JzzwCrbJgS
Monero $XMR, the greatest currency ever, sits at $8.5B cap. It is the only asset to combine digitalization, decentralization, and privacy. You will hold it alongside nationstates, billionaires, industry leaders, revolutionaries, dissidents, and the unseen architects of the world.
Polymarket has received funding from:
-Peter Thiel's Founders Fund:
https://t.co/B5muIJupAb
-Peter Thiel Fellow and creator of ETH, Vitalik Buterin:
https://t.co/wJpOdRdS30
-ParaFi Capital LP:
https://t.co/YrBqUeac9t
Whose Founder, Ben Forman, previously worked at:
TPG Inc., KKR, Littlejohn & Company, and Rothschild & Co.:
https://t.co/v6S7VnNwkT
https://t.co/pnVhpuBgXO
https://t.co/w184TM9D9h
-Former Founders Fund Partner Kevin Hartz:
https://t.co/ZYnuWi6bsm
https://t.co/OT2x02M3WD
-1789 Capital:
https://t.co/kZev5HJ7JB
Founded by Rebekah Mercer:
https://t.co/vnqQr7e2k9
And Omeed Malik:
https://t.co/S1K0q5YKZe
Has Trump Jr. on the Board:
https://t.co/pndextiCcY
Was seeded by Peter Thiel:
https://t.co/KkmOmaYMKj
Provided funding to Tucker Carlsons Last Country Inc.:
https://t.co/7jOYlmZxHE
-Blockchain Capital
https://t.co/bDyu77MoLO
Co-Founded by Brock Pierce:
https://t.co/FIoe2ZbDTh
Who also Co-Founded Tether:
https://t.co/ei5jiQP68b
Whose main Custodian Cantor Fitzgerald, which is run by Secretary of Commerce Howard Lutnick:
https://t.co/rcUgXWkNIa
-General Catalyst:
https://t.co/J5Md4fgF25
-1confirmation:
https://t.co/Adse852EPQ
-Sahin Boydas:
https://t.co/bDyu77MoLO
-Abstract:
https://t.co/bDyu77MoLO
See also:
Rockbridge, RFK Jr., Blake Masters, Chris Buskirk, JD Vance, etc.