“Every morning, therefore, at about 9.30 after breakfast each of us, as if moved by a law of unquestioned nature, went off and ‘worked’ until lunch at one. It is surprising how much one can produce in a year, whether of buns or books or pots or pictures, if one works hard and professionally for three and a half hours every day for 330 days [a year]. That was why, … continue reading
1: “Some Scandinavian canoeists succeeded in getting through all the rapids of Scandinavia.”
Charlie Munger, the longtime business partner of Warren Buffett and Vice Chairman of Berkshire Hathaway, was delivering a commencement address to the 2007 USC School of Law graduates.
“They thought they would continue their success by tackling the big whirlpools in northwest America,” he continued.
Things didn’t work out so well. “The death rate was … continue reading
1: “Invert. Always invert.” Charlie Munger loved to quote the great algebraist Carl Jacobi.
Inversion is defined as: “A reversal of position, order, form, or relationship.”
Charlie is telling us the power of “turning the question backward.” Because “many hard problems are best solved only when they are addressed backward” he writes in  Poor Charlie’s Almanack.Â
So that was his approach when he was invited to give a … continue reading
