Charlie Munger’s, the billionaire who passed away at the age of 99, shared some insights into his life in an interview with CNBC just before his birthday on January 1 next year. He talked about his bucket list and explained why he abandoned it.
On Bucket List and Fishing:
When asked about his bucket list, Munger looked surprised and replied, “It’s an interesting question. When I was 96, I became so old and weak that I don’t want to catch a 200-pound tuna anymore. It requires a lot of effort and physical strength.”
“So, I don’t do that. When I was young, I paid any amount to catch a 200-pound tuna. I never caught one. And now, if the opportunity arises, I will decline. I think you accept defeat with time,” he added.
According to a Business Insider report, Munger, primarily known for his investment strategies, shared a similarity between fishing and investing in 2017. He said, “I have a friend who says the first rule of fishing is to fish where the fish are. The second rule of fishing is never to forget the first rule. We have been good at fishing where the fish are.”
On Exploiting Unfair Advantages and Seizing Opportunities:
When asked if he still leads an active and social life, Munger told CNBC that he considers it old age. “I like it this way. This is my concept of old age. I didn’t plan it; it just happened. Also, when it worked out, I embraced it.”
He said that his active lifestyle was due to “exploiting unfair advantages,” which he recognizes. “I am good at exploiting unfair advantages, and I received unfair advantages in old age, just as I received unfair advantages in youth. And when they come, I grab them quickly, very quickly.”
Living with Dignity:
Charlie Munger’s mentioned that he left a luxurious lifestyle, stating, “Warren (Buffett) and I lived in the same house for decades. All our friends became rich and built better homes, and we both considered building better homes. I had a large number of children, and still, I decided I wouldn’t live a life where I look like the Duke of Westchester, or something also wanted to avoid that and did it knowingly.”
On Writing His Obituary:
CNBC asked Munger about the advice he gave once to Buffett—writing his obituary in a way he would like to read it and then living his life accordingly. Munger responded, “I wrote my obituary just as I lived my life, and if they want to overlook it, it doesn’t matter to me. I will die. What difference does it make? A bad thought.”
He said that when he was 30, he wrote the obituary he would write for himself, and he is still writing it today. “I fundamentally believe in the military-on-parade system. Many difficulties will come, and you have to handle them well by struggling, and some rare opportunities will come. You have to learn how to recognize them when they are available. They are simple life lessons,” he said.
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