“You don’t need 20 right decisions to get very rich. 4 or 5 will probably do it. It’s a terrible mistake to think you have to have an opinion on everything.” ~ Warren Buffett

In 1998, Charlie Munger compressed 74 years of investing and lifetime wisdom into mental models that made him a billionaire. Three of his adages include:

• Deserve what you want
• Invert, always invert
• Avoid intense ideology

***Deserve what you want***

“The safest way to get what you want is to try to deserve what you want,” stated the late Charlie Munger, Vice Chairman, Berkshire-Hathaway

“Deliver to the world what you would buy if you were on the other end.”

The people with this ethos win not just money and honors, but deserved trust.

“There is huge pleasure in life to be obtained from getting deserved trust.”

***Invert, always invert***

“Problems frequently get easier to solve if you turn them around in reverse,” Munger proclaimed.

Want to help India? Don’t ask how to help. Ask: What does the worst damage? How do I avoid it?

“Unless you’re more gifted than Einstein, inversion will help you solve problems you can’t solve any other way.”

***Avoid intense ideology***

“Extremely intense ideology cabbages up one’s mind,” Munger stated

“When you announce you’re a loyal member and start shouting the orthodox ideology, you’re pounding it in. And you’re gradually ruining your mind.”

Munger’s iron prescription:

“I’m not entitled to have an opinion unless I can state the arguments against my position better than the people supporting it.”

Source: https://x.com/jaynitx/status/2011423955731820834