In his letter titled Remembering My Teacher Charlie Munger, Li Lu explains how Charlie Munger believed that virtue, moral responsibility, truth-seeking, and public service are essential qualities for a fulfilling life. He demonstrated these values throughout his life by making money in an ethical manner, pursuing lifelong learning, maintaining a rational outlook, facing adversity with resilience, and using his wealth and wisdom to help others. Here’s an excerpt from the letter:
Q3 2023 hedge fund letters, conferences and more
In our capitalist society, where do virtue, moral responsibility, truth-seeking and public service fit in? Charlie Munger answered these questions through his long exemplary life.
He insisted on making money in the most morally sound way, entering transactions only when, if positions were reversed, he would comfortably take the other side.
He sought worldly wisdom through life-long learning. He guided life with rationality devoid of mental deficiencies such as envy, resentment and self-pity. He faced and persevered through countless adversities with stoicism and equanimity.
As he gained in wealth and stature, he showed little appetite for the trappings of that success, and instead spent his wealth on worthy causes and tirelessly spread his worldly wisdom to those who would listen, often with humor.
He remained deeply engaged with family, friends, partners and the broader world with loving assiduousness through his last days.
You can read the entire letter here:
Li Lu – Remembering My Teacher Charlie Munger
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Article by The Acquirer’s Multiple
