At 31, Charlie Munger simultaneously lost his son, his wife, and his fortune. Here’s how one incredibly simple idea changed his life forever… As a young man, Charlie Munger appeared to have it all. A Harvard-educated lawyer with a thriving career, known for his sharp intellect and quick wit, he had earned widespread respect in his field. Personally, he was a devoted husband and father, raising a growing family and building a future. However, devastating events dramatically changed the course of his life. Charlie's marriage ended in divorce, and he lost custody of his children. Shortly after, his 9-year-old son Teddy was diagnosed with leukemia. Despite the best medical efforts, Teddy tragically passed away. At the same time, a speculative real estate investment failed, leaving Charlie financially ruined. Around this time, a routine eye operation was botched, leading to the surgical removal of his left eye. By 31, Charlie had lost everything - his family, his fortune, and his direction. But he refused to let tragedy define him, “life will have terrible blows, horrible blows, unfair blows. It doesn’t matter” he said. His idea was to adopt a positive outlook, refusing to be a victim. Determined to rebuild his professional life, Charlie immersed himself in the study of investing, focusing on simplicity, long-term growth, and high-quality companies. He also began to reform his personal life. Charlie remarried and started a new family, finding joy and renewed purpose in a second chance at happiness. By the 1970s, Charlie had met and partnered with Warren Buffett at Berkshire Hathaway. Together, they created a global powerhouse, emphasizing discipline and patience in investing. Today, Berkshire Hathaway is worth over $1 Trillion. Before his death, Charlie argued that none of this would have been possible if he hadn’t adopted a positive outlook: “Feeling like a victim is a perfectly disastrous way to go through life”. “I am not a victim. I am a survivor.”
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Caution!!! Danger!!! Charly Munger can easily be misunderstood. Here is the clarification: Yes, choose always the creator role and not the victim role, even if bad things happen to you. But No, you don't have to get rich, be lucky in love or have any other advantages in life. It shouldn't matter whether you are lucky again in life after the tragedy. The only thing that matters: Realize that you are part of something much bigger. And in that, there is no happiness or unhappiness; there is only love that knows no opposite. What seemed like a tragedy may have been your great luck - and vice versa. How do I know that? I lost my leg and almost my life - and then I became a Paralympic champion. Then I found the love of my life - and lost her to cancer. Life is rarely fair for long. Despite all the pain and suffering, always be the creator of the most important thing with your thoughts, words and actions: added human value. And for that, you need NO money...!
Though we experience every kind of pressure, we’re not crushed. At times we don’t know what to do, but quitting is not an option. We are persecuted by others, but God has not forsaken us. We may be knocked down, but not out. (2 Corinthians 4:8-9) Winners never quit and quitters never win.
Sometimes it is only severe hardship and suffering that can set us free from the confines of our own ego and floored perception of the world… allowing us to see the true nature of reality and then engage with it more optimally. Human beings tend to want to avoid suffering at all costs, but the strongest steel is forged by the most intense fire :)
who needs the drama of being a victim when you can claim the title of survivor and wear it like a badge of honor? It's all about flipping the script from "why is this happening to me?" to "look what I've overcome and how far I've come." Life's challenges are like plot twists in your own personal epic saga, turning you from a passive character into the unstoppable hero of your story.
Die Geschichte hätte für mich mehr Bedeutung gehabt, wenn es am Ende nicht nur um sein Vermögen und Geld gegangen wäre. Ich hätte es schöner gefunden, wenn er seinen inneren Frieden gefunden hätte. Natürlich ist es wunderbar, dass er eine neue Familie hat, aber wichtiger wäre für mich gewesen, dass er mit sich selbst ins Reine kommt. Schließlich kann man das ganze Geld nicht mit ins Grab nehmen. Geschichten, in denen Geld nicht im Mittelpunkt steht, finde ich viel beeindruckender und lobenswerter.
“Charlie Munger, Warren Buffett’s longtime partner and a legendary investor, exemplifies the concept of being “anti-fragile.”” popularized by Nassim Nicholas Taleb. True strength comes from embracing challenges and using them as a platform for growth. His anti-fragile mindset not only built immense wealth but also serves as a blueprint for success in life and business.
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5dPic: Charlie in the Buffalo News, 1977