> Warren Buffett Blog: Warren Buffett & Charlie Munger Best Advice

Tuesday, November 12, 2013

Warren Buffett & Charlie Munger Best Advice

The Chairman and Vice Chairman of Berkshire Hathaway Corporation reveal what is easier for them that's difficult for most people.
Buffett (about Munger): He's given me a lot more advice than I've given him. He lives a very rational life. I've never heard him say a word that expressed envy of anyone. He doesn't waste time on senseless emotions.

Munger: There's an old saying, "What good is envy? It's the one sin you can't have any fun at." It's 100% destructive. Resentment is crazy. Revenge is crazy. Envy is crazy. If you get those things out of your life early, life works a lot better.

Buffett: It so clearly makes sense.

Munger: We've learned how to outsmart people who are clearly smarter [than we are.]

Buffett: Temperament is more important than IQ. You need reasonable intelligence, but you absolutely have to have the right temperament. Otherwise, something will snap you.

Munger: The other big secret is that we're good at lifelong learning. Warren is better in his 70s and 80s, in many ways, that he was when he was younger. If you keep learning all the time, you have a wonderful advantage.