BRX Pro Tip: 4 Tips from Charlie Munger
Stone Payton: [00:00:00] Welcome back to Business RadioX Pro Tips. Stone Payton and Lee Kantor here with you. Lee, You’ve got a handful of tips from none other than Charlie Munger.
Lee Kantor: [00:00:12] Yeah. You know, I read a lot, and Charlie Munger is – for those who don’t know – Warren Buffett’s right hand man. They’ve been working side by side, I think, since the beginning. So, he’s a pretty smart guy who kind of hangs in the background but he has a lot to say and he brings a lot to the table.
Lee Kantor: [00:00:28] So, I was reading some stuff about him and I wrote down some of the tips that I thought might be useful for other people who weren’t aware of him to become aware of him.
Lee Kantor: [00:00:38] So, number one tip that I found from Charlie Munger was, you want to deliver to the world what you would buy if you were on the other end. That helps him when he is vetting companies to purchase. That is one of the lenses he’s looking at the world through. So, I thought that was interesting.
Lee Kantor: [00:00:58] Another thing that he said was, acquiring wisdom is a moral duty. Without lifetime learning, you’re not going to do very well. And that’s something that both Charlie Munger and Warren Buffett obviously think is very important because they’ve been doing this work for a long time. I think both of them are in their 90s now and they’re still doing amazing work and creating amazing wealth for their clients and the people who are investing in Berkshire.
Lee Kantor: [00:01:24] Number three tip was, learn to look at a problem backwards as well as forward. As the world gets more and more complex, sometimes it’s easier to solve a problem when you turn it around in reverse. And that’s something that Business RadioX that we do when we help our clients. We’re always trying to reverse engineer a solution to help them achieve the objective that they’re trying to achieve.
Lee Kantor: [00:01:50] And then, the last thing that he said that I think is relevant to our work as well is be reliable. If you’re not reliable, that kind of cancels out all your other virtues. So, make sure that you are consistently delivering and you are reliable. And that is something we try to do at Business RadioX. We want to be that go-to resource.
Lee Kantor: [00:02:12] So, I thought those four tips were really important and there’s a lot more to learn from Charlie Munger. And I would emphasize that you should be checking out his work.
