Charlie Munger teaches girls a simple rule for long-term wealth It's already difficult for a person to be very wealthy, and it's even harder to be happy with money, but Munger has achieved it. Munger is very different from Buffett. He has not been so smooth sailing and has experienced great darkness in life, such as divorce, bankruptcy, and losing children. However, his character has helped him withstand everything. He is a rationalist who overcomes human weaknesses through rational cultivation. A truly wealthy person is not only wealthy in money, but also in character. Good character will make a person increasingly wealthy in money, social, and spiritual aspects. Munger can be considered a truly wealthy person. I have decided to practice Munger's way of life in my daily life, using his wisdom to guide my own life and approach truly wealthy people. Character of work Many young businessmen have asked Munger, "How can I become like you Munger said, every morning when you wake up, strive to become a little smarter than you used to be. Seriously and excellently complete your tasks. Slowly, you will make progress, but this progress may not be fast. Move forward a little bit every day. In the end, if you live long enough, most people get what they deserve. Later, someone asked him how to find customers? He replied that the key is to do the job well, take care of the customers you already have, and others will naturally come to you. His method of earning money through work is so simple, doing current tasks well, having the ability to deliver high-quality products in the long run, making progress every day, and time will give you everything you deserve. I think every newcomer to the workplace should remember this: they don't need to think too much about macro principles, just complete the tasks at hand with high quality first, and naturally there will be other opportunities. In Munger's view, earning money and a happy life rely on remembering simple truths rather than mastering profound methods. He said, we never try to become very smart people, but constantly try not to become fools. Over time, people like us can gain a great advantage. What kind of person is a fool? People who persist in making mistakes despite knowing they are wrong are foolish. First, figure out what not to do, and then consider what actions to take next. In life, you need to distinguish which actions will bring bad luck. If you don't do them, you will be a wise person. Others ask Munger how to achieve success in life? He said, do not take drugs, jaywalk, get AIDS. A happy life starts with knowing what not to do. I just want to know where I will die in the future so that I can never go there again. This is Munger's motto. Reduce the number of mistakes, pursue the right, do not pursue speed, and immediately correct mistakes when you know they are wrong. If you do something right, it only takes many years to do it, but if you do something wrong, the more dangerous it becomes. The ability to distinguish right from wrong requires a lot of knowledge to enrich the brain. People with good brains are less likely to make mistakes. Munger earns money through intelligence, and Buffett said that he analyzes problems to the point and can quickly see through a company's business model. Because his interdisciplinary knowledge is very strong, he can self-study and analyze models. He buys stocks through scientific analysis and uses many models to scientifically explore and analyze investment issues. For example, redundant backup models in engineering that are generally considered profound, compound interest models in mathematics, critical points, overturning moments, and self catalysis models in physics and chemistry, modern Darwinian synthesis models in biology, and cognitive misjudgment models in psychology. He will integrate them to analyze the problem. He is a very rational person who uses his intelligence to make money, and he tells us that by thinking clearly about the problem and then doing it, knowledge can be monetized. In addition, he also suggested not to think too hard about something before doing it. If you find something 'too difficult', you often give up on doing it. Break down tasks into simple ones and learn to do them step by step, so you won't feel like it's a daunting task. The key is to persist. Just like the critical mass in physics, reaching a certain level of mass can trigger a nuclear explosion, but if you don't reach that mass, you won't get anything. So remember, choose the right direction and persist. Quantitative changes lead to qualitative changes. When time comes, you will receive what you deserve. Of course, you cannot die, try to be healthy and live longer to witness everything happening. Social Taste In terms of interpersonal communication, Munger is also a wise person. He does not pursue the formation of good relationships, but rather seeks an ultimate way of breaking away from interpersonal relationships. He said that the easiest way to achieve a good life is to stay away from those toxic people. Who are toxic people? The first type is habitual liar. Munger places great emphasis on a person's credit rather than assets. Engaging with someone who is very dishonest can consume a lot of effort and face many risks. People who have suffered losses in this regard understand that those who do not speak the truth are truly dangerous. The second type is people with a victim mentality. Always complaining, not seeing what you have, blaming others, not taking responsibility, these people are constantly spreading negative energy, which can infect you and make you poisoned. You need to stay away as soon as possible. The third type is people with strong jealousy. People with a strong sense of jealousy are foolish and have no benefits other than causing themselves pain. Don't have too close contact with people who are foolish and deliberate. Avoid becoming such a person, and also avoid becoming friends with such people. You will be much happier in social interactions. Munger is very good at choosing friends, and character is his first criterion for choosing friends. He and Buffett have been working together for decades without any formal partnership or contractual relationship, based entirely on their mutual understanding and trust. This is the advantage of a friend with trustworthy character. You don't have to worry too much and guard against too many, which saves you a lot of communication and psychological costs. Munger not only chooses friends, but also clients. He told his legal colleagues, 'Don't just focus on money.'. Choose clients with whom you are willing to make friends If Munger is willing to make friends with him, then this person is of strong character, and character is more important than money. We can also learn from his standards. Of course, you should also be worthy of such a friend yourself, and people with excellent character are not stupid. The texture of the soul Whenever Munger has free time, he reads books while waiting for planes. Munger said, 'I myself am a biography enthusiast, guiding my own life by summarizing the lives of others.'. As Cicero, whom he liked, said, as long as people devote themselves to philosophy, they will never lose themselves in any stage or situation of life. Reading can enrich the soul and help you think clearly when you are confused. In addition, he believes that in order to live a peaceful and happy life, one must cultivate good psychological habits, among which the most important is psychological balance and not to be jealous of others. Learn to be satisfied with what you already have. If you are already quite wealthy and someone else's wealth is growing faster than yours, then it's not sad that there will always be someone whose wealth is growing faster than yours. People who are not jealous will be much happier Munger strongly emphasizes that jealousy is a very foolish crime, because it is not only a crime where you cannot have any pleasure. It will only cause you unbearable pain and will not bring you any happiness, so why do you still feel jealous? Also, don't hold grudges against others. In a speech, he quoted Johnson's words, saying that life is already difficult to swallow, why put it in the bitter skin of resentment. Resentment, jealousy, grievance, and self pity are all psychological flaws that poison oneself, destroy oneself, and leave the world as it was before. It is not worth it. So he suggested to improve one's own psychology, read more books and learn more, and use reason to defeat human weaknesses. This is a cultivation that needs to be carried out to strive for happiness in life. Virtue carries things, with a long and rich history Munger taught his son that if you borrow someone else's car, don't forget to fill it up with gas before returning it to them. My son learned it and borrowed a classmate's car while he was in college. He remembered his father's words and filled up the tank first before returning the car. His classmate discovered it and became a good friend afterwards. A small act of kindness will stamp your good character. Charlie Munger is a particularly fair and thoughtful person, from whom children learn how to make friends and how to deal with others. My friend said that Munger always does more than his job and never complains about what others have done. Buffett said that we have been working together for 40 years, and he never fired a shot at what I did. We have never had a dispute. We sometimes have different opinions on many things, but he is a perfect partner. Because of kindness, integrity, and reliability, he has gained more and more trust, and the true compound interest in his life is his personality. So, Munger has always said that success is about persistently being a reliable person. He said he has a friend who suffers from reading disorders and is not particularly smart, but he is very reliable. His life has been very happy so far, with an excellent wife and children, and a billion dollar business. Quantum mechanics is not something that everyone can master, but reliability is something that almost everyone can master. Take responsibility for your work, be a reliable person, money will come close to you, and happiness will automatically knock on your door. Thank you to Munger, who lived to the age of 99, for leaving behind a lot of wisdom in the world. If you truly achieve it, you will earn it.