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Here's How You Can Profit IMMEDIATELY and FOREVER from the Wit and Wisdom of Charlie Munger
Matt Karamazov
January 08, 2024
YOUTUBE đź“š THE READING LIFE đź“š PATREON
Read on The Competitive Advantage.com | Read Time: ~6 Minutes
Welcome back, winners. Here’s your competitive advantage:
Charlie Munger was one of the wisest billionaires you could ever hope to meet, and although he died recently in 2023, he left behind a TON of essential wisdom, some of which I’ve passed on in this video.
But he also said something truly profound during an interview once, and, without any further buildup, it’s simply this:
“To get what you want, you have to deserve what you want. The world is not yet a crazy enough place to reward a whole bunch of
undeserving people.”
Can you see the POWER in that simple statement?!
It’s the kind of idea that forces you to get real honest with yourself and ask whether you truly and honestly DESERVE what it is that you say you want.
Have you put in the work? Yes or no?
For me, for many years, the answer was no. I hadn’t.
Your results are a lagging indicator of your habits and behaviors, so my results in life and business are just now catching up to the actions I started taking after first assimilating that profound Charlie Munger wisdom.
A little bit further down I’ll share a few more of my favorite Munger-isms, but you’ll find a lot of them in a book that I highly recommend checking out, Poor Charlie’s Almanack, edited by Peter D. Kaufman.
Personally, I’ve found that periods of tremendous growth in my life have always followed periods of intense, honest, searching reflection.
Reflection on my beliefs, actions, habits, friends, influences, strategies — everything.
Literally nothing is beyond questioning. Perhaps ESPECIALLY not your deepest-held beliefs, because those truly are the ones we never think to question.
As promised, here are a few more of my favorite sayings of Charlie Munger, and I’ve also dropped a new YouTube video unpacking the idea of deserving what you want in life. You can watch that right here.
And now, the “Munger-isms”:
“In my whole life, I have known no wise people (over a broad subject matter area) who didn’t read all the time — none, zero.”
“If you keep learning all the time you have a huge advantage.”
“A majority of life’s errors are caused by forgetting what one is really trying to do.”
“I believe in the discipline of mastering the best that other people have ever figured out. I don’t believe in just sitting down and trying to dream it all up yourself. Nobody’s that smart.”
“As long as I have a book in my hand, I don’t feel like I’m wasting time.”
“Like Warren, I had a considerable passion to get rich, not because I wanted Ferraris — I wanted independence. I desperately wanted it.”
“Acknowledging what you don’t know is the dawning of wisdom.”
“If it’s wisdom you are after, you are going to spend a lot of time sitting on your ass and reading.”
I credit the majority of my success and happiness in life to my consistent, unbreakable habit of reading and applying great books.
To help you gain wisdom and strength from the greatest books that have stood the test of time (and use the knowledge contained therein to shape your life according to the way you want to live it), I created the Stairway to Wisdom, my library of expert book breakdowns.
When you become a member of the Stairway to Wisdom, you’ll gain access to more than 100+ such book breakdowns, as well as a premium weekly newsletter that some readers have described as “philosophical espresso shots for the soul.”
Whenever I publish a new breakdown, I always make it free for a couple of weeks, just so people can check it out and see if it’s something they want to begin receiving in their inbox regularly.
Here’s the latest book breakdown inside the Stairway to Wisdom, with links to become a member if that’s something you feel would benefit you:
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By the way, a few of the above quotes came from a really cool article by my friend Neil Pasricha, who shares a wild story of something that happened the very day that Charlie Munger died.
The story really gives an insight into who he was and the counterintuitive ideas he held about the value of work. I highly recommend the article!
A few last things to tell you about…
I’ll be welcoming Justin Glaser, the author of Sweat, for an Instagram Live this Wednesday at 2PM Eastern.
We’ll be speaking for about 30-45 mins, talking about the book and answering all your questions about your body’s hidden superpower and the ridiculous health benefits that come from getting a sweat on.
I’m also still working on this month’s Patreon book notes updates, but those shouldn’t be too far away.
I appreciate everyone’s patience on that as I keep up with coaching clients, update Time Mastery, publish content every day on all my social media channels, etc.
I have a very small team helping me out - and I work crazy intense hours myself right now - but hey, we get it done!
Until next time…happy reading!
All the best,
Matt Karamazov
P.S. Whenever you're ready, here are six more ways I can help you:
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