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Chart Update, page-426

  1. 5,305 Posts.
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    Seeing as it’s so quiet here, I’ve been doing s bit of reading on Charlie Munger .   He’s Warren Buffet’s partner, Vice President of Berkshire Hathaway ...

    And, according to him, unless things change  my relationship with numbers may  not bode well for my future success as an investor .
    https://fs.blog/a-lesson-on-worldly-wisdom/
    ..”Obviously, you’ve got to be able to handle numbers and quantities—basic arithmetic. And the great useful model, after compound interest, is the elementary math of permutations and combinations.....
    ......It’s very simple algebra. It was all worked out in the course of about one year between Pascal and Fermat. They worked it out casually in a series of letters.
    It’s not that hard to learn. What is hard is to get so you use it routinely almost everyday of your life. The Fermat/Pascal system is dramatically consonant with the way that the world works. And it’s fundamental truth. So you simply have to have the technique
    ....”

    It’s an interesting story ...Mr Munger goes on to express some antipathy towards chiropractors, an interest in psychology and the belief that the ability to play poker is to some degree based on understanding Gaussian logic http://www.quantitativepoker.com/2011/02/how-far-from-gaussian-normal-are-poker.html and  the theories of Blaise Pascal https://en.m.wikipedia.org/wiki/Blaise_Pascal

    It made me wonder at your mind to be honest @Saragian .

    There is a lot in that story that speaks to me including
    “When Warren lectures at business schools, he says, “I could improve your ultimate financial welfare by giving you a ticket with only 20 slots in it so that you had 20 punches—representing all the investments that you got to make in a lifetime. And once you’d punched through the card, you couldn’t make any more investments at all.”
    He says, “Under those rules, you’d really think carefully about what you did and you’d be forced to load up on what you’d really thought about. So you’d do so much better.”


    Hmmmmm
 
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