You’re one of the richest people in the world, and how you explain what you do, it’s so simple. Why doesn’t everyone just copy you? “....Because nobody wants to get rich slow”

Charlie Munger is 99 years old and Warren Buffet is 92 years old, combined net worth is $110 Billion. Charlie is particularly savage and does not suffer fools, especially with high egos, lofty titles, and zero self-awareness who think they are the greatest gift to humanity.

Both have a great sense of humour, I laugh and learn whenever I read, watch, or listen to them. The Christmas card below from Munger and Buffet says it all.

Berkshire Hathaway released its 2022 annual letter to shareholders yesterday. Read on for life, leadership and investment wisdom from the billionaires.

1. Berkshire results have been the product of about a dozen truly good decisions – that would be about one every five years – Leaders get paid to make a small number of high-quality decisions.

2. All I want to know is where I’m going to die, so I’ll never go there. And a related thought: Early on, write your desired obituary – and then behave accordingly.

3. The world is full of foolish gamblers, and they will not do as well as the patient investor. Patience can be learned.

4. You can learn a lot from dead people. Read of the deceased you admire and detest.

5. If you aren't making money while you sleep, you will work until you die.

6. Day to day, the stock market is a voting machine; in the long term it’s a weighing machine.

7. There is no such thing as a 100% sure thing when investing. Thus, the use of leverage is dangerous. A string of wonderful numbers times zero will always equal zero. Don’t count on getting rich twice.

8. You have to keep learning if you want to become a great investor. When the world changes, you must change.

9. One advantage of our publicly-traded segment is that – episodically – it becomes easy to buy pieces of wonderful businesses at wonderful prices. It’s crucial to understand that stocks often trade at truly foolish prices, both high and low. “Efficient” markets exist only in textbooks. In truth, marketable stocks and bonds are baffling, their behavior usually understandable only in retrospect.

10. Finally, Warren added two short sentences by Charlie that have been his decision-clinchers for decades: “Warren, think more about it. You’re smart and I’m right.”

Take it easy, and keep learning...

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