Links - 12/03/2023
“We were very lucky early. The habit of buying horrible businesses that were really cheap, gave us a lot of experience trying to fix unfixable businesses as they headed downward toward doom. That early experience was so horrible – fixing the unfixable – that we were very good at avoiding it thereafter. So I would argue our early stupidity helped us… But you have to try it for a long time and fail and have your nose rubbed in it to really understand it.” —Charlie Munger
CNBC: Full Transcript from CNBC’s “Charlie Munger: A Life of Wit and Wisdom” (LINK)
Squawk Pod Podcast: Charlie Munger: A Life of Wit and Wisdom (Part 1, Part 2)
Charlie Munger: These ‘basic rules’ made me successful in life—‘with Warren Buffett, I had all 3’ (LINK)
Remembering My Teacher Charlie Munger - by Li Lu (LINK)
Howard Marks Talks Legacy of Charlie Munger (video) (LINK)
Remembering Charlie Munger - by Guy Spier (video) (LINK)
A compilation of some of Charlie Munger’s best lessons (video) (LINK)
This Week in Intelligent Investing Podcast: Remembering Charlie Munger: Life and Legacy (LINK)
The Journal. Podcast: Charlie Munger: Curmudgeon, Sage and Investing Legend [w/ Jason Zweig] (LINK)
Berkshire Hathaway’s Charlie Munger Was a Journalist’s Dream: He Never Held Back - By Andy Serwer [H/T Linc] (LINK)
A Letter a Day: Letter #143: Charlie Munger and Todd Combs (2022) (LINK)
Bill Gates’ prepared remarks at the COP28 World Climate Action Summit (LINK)
COP28: Bill Gates on climate optimism, wealth and the human condition (video interview) (LINK)
An investment memo on software company Kneat (LINK)
Priced to Outperform Perfection: The Home Depot Circa 1999 [H/T Linc] (LINK)
“Securities” Podcast: Techno-Pragmatism: Looking Beyond Blind Optimism and Hopeless Pessimism (LINK)
In this episode, Danny Crichton and Josh Wolfe discuss themes from Lux Capital’s Quarterly Letter, where techno-optimism collides with the despair of techno-pessimism.
The Business Brew Podcast: Craig Moffett Returns (LINK)
The Journal. Podcast: Artificial: Episode 1, The Dream (LINK)
In 2015, a group of Silicon Valley heavy-hitters met for a dinner that would change tech history. They believed that the time had come to build a super-intelligent AI, and they founded a non-profit lab to try to do it. In part 1 of our series, Artificial: The OpenAI Story, we explore the company’s idealistic origins and speak with early employees about the struggle to make their AI dream a reality.
The Daily Stoic Podcast: Lives Of The Stoics | Marcus Aurelius The Philosopher King (LINK)
“I watched a man build up a business in southern California, which was a wonderful business. And the time came to sell it — and he devoted his whole life to creating it — he sold it to a known crook who was obviously going to ruin the business just because he could get a slightly higher price. I think that’s an insane way to live a life if you own a prosperous business. I think the better course is to sell to somebody you know is going to be a good steward of what you’ve created.” —Charlie Munger