25iq

My views on the market, tech, and everything else

A Dozen Things Charlie Munger has said about Reading

 

  1. “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.”

 

  1. “You’d be amazed at how much Warren reads – at how much I read. My children laugh at me. They think I’m a book with a couple of legs sticking out.” 

 

  1. “As long as I have a book in my hand, I don’t feel like I’m wasting time.”

 

  1. “I’ve gotten paid a lot over the years for reading through the newspapers.”

 

  1. “I don’t think you can get to be a really good investor over a broad range without doing a massive amount of reading. I don’t think any one book will do it for you.”

 

  1. “For years I have read the morning paper and harrumphed. There’s a lot to harrumph about now.”

 

  1. “We read a lot.  I don’t know anyone who’s wise who doesn’t read a lot.  But that’s not enough: You have to have a temperament to grab ideas and do sensible things.  Most people don’t grab the right ideas or don’t know what to do with them.”    

 

  1. “By regularly reading business newspaper and magazines I am exposed to an enormous amount of material at the micro level.  I find that what I see going on there pretty much informs me about what’s happening at the macro level.”  

 

  1. “Warren and I do more reading and thinking and less doing than most people in business. We do that because we like that kind of a life. But we’ve turned that quirk into a positive outcome for ourselves. We both insist on a lot of time being available almost every day to just sit and think. That is very uncommon in American business. We read and think.”

 

  1. “If you get into the mental habit of relating what you’re reading to the basic structure of the underlying ideas being demonstrated, you gradually accumulate some wisdom.”

 

  1. “Develop into a lifelong self-learner through voracious reading; cultivate curiosity and strive to become a little wiser every day.”

 

  1. “I met the towering intellectuals in books, not in the classroom, which is natural. I can’t remember when I first read Ben Franklin. I had Thomas Jefferson over my bed at seven or eight. My family was into all that stuff, getting ahead through discipline, knowledge, and self-control.”

 

p.s., “Obviously the more hard lessons you can learn vicariously, instead of from your own terrible experiences, the better off you will be. I don’t know anyone who did it with great rapidity. Warren Buffett has become one hell of a lot better investor since the day I met him, and so have I. If we had been frozen at any given stage, with the knowledge we had, the record would have been much worse than it is. So the game is to keep learning.”

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