Charles Munger’s Master Strategy to Make Tons of Money – must read for all investors and businessmen
Friday, April 21, 17
Charles
Munger’s Master Strategy to Make Tons of Money – must read for all investors
and businessmen
Greetings from Hitesh! We have often talked
about BUFFETT. Today we are going to talk about MUNGER – his Friend /
Philosopher and Partner. He is WELL READ guy and to learn from him is always a
pleasure as he is a man of FEW Meaningful words.
Not
a SINGLE Motivational People is a BILLIONAIR but MUNGER is. Why?
Go to any Trainer or Motivational Person
SEMINAR – they will talk about GOAL Setting. They will tell you to set the GOAL
/ Prepare Strategy / Find out Obstacles / Find out ways to deal with obstacles
/ work hard / work smart and you will get it what you want. Many times they ask
you to write your goals on the WALLS or BACK SIDE of your TOILET DOOR so that
you can read it and get the motivation from it everyday.
My personal experiences and observations of
the 1000 of client’s whom I have guided personally in last 25 years tells me
that his is the worst strategy and it is not at all effective. Life is not that
EASY. Most of the guys become more demotivated than they were before attending
to such seminar or following such a strategy.
There is a BASIC FAULT in their STRATEGY.
Munger has the better solution for the same. Just read and appreciate his
COMMON SENSE.
What
MUNGER SAYS?
Day before yesterday, I dealt with JEFF
BEZOS. He was talking about DAY 1 feelings in whatever you do. We have seen
STEVE JOBS talking about LAST DAY Feelings. Both appear to be similar but there
is a major difference. Same way….we have seen most Motivational and Management
guys talking about FOCUS on what you want.
But MUNGER says 100% reverse – Find out what
you don’t want from your life / investments and relationships? If you just
avoid what you don’t want you will get what you want by default. What an
amazing idea?
He takes the time to STUDY the FAILURES / MISTAKES
made by other investors and businessmen and decides not to repeat them. He says
“I sought Good judgment mostly by
collecting instances of bad judgment, then pondering ways to avoid such
outcomes”. He says “All I want to KNOW where I am going to die, so I will never
go there”.
I have applied this approach verbatim and I
have found out following things in implementing.
1. I am not focusing on my goals – so the
STRESS related to achievement of that goes ways. I am always FREE MENTALLY. (Most
failures are the results of this obsession with the goals. Yesterday, we dealt
with ADVANI. He is the case of obsession for PM post).
2. When you are FREE mentally – the goal
achievement process becomes a PLAY for you. You are just playing it. You will
be 100% following Gita’s KARMANEY ADHIKAR strategy without any EFFORT at your
part.
3. I am learning from other’s Mistakes. So, I
am not panicked with their results.
4. I know various ways, if I follow, I can’t
reach my goals. So, it’s like BEGIN with END in MIND, as STEPHEN COVEY says.
5.
Unless you follow what
he says – you will not appreciate the power behind this strategy. I am sharing
from my personal experiences.
His
focus is on what will not WORK?
When you know before hand what will not work
– will you apply or follow that? You will save your time, money and other
resources. Most of all, you will never get FRUSTRATED with the result, as you
have already removed what you don’t want.
When you don’t get frustrated – the need to
motivate yourself does not come, as you are always motivated!! Just think.
What
Next?
In SANSKRIT it is said – “BAHU RATNA VASUNDHARA”
– it means there are lot many JEWELS in/on the EARTH. Meaning there are N
number of WISE people are on earth. I am just trying to follow them and keep
sharing with you all.
If you need help in investments / personal
growth in any areas of your life – you can approach us.
Happy LEARNING.
Live With
Passion…Invest With Passion.
Hitesh Parikh.
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