Links - 12/05/2023

“I have been very well located in life. But with minor exceptions, what do I have relative to investments in life? I've got Costco stock, Berkshire stock, Li Lu's China fund and Avi's apartments. So I have four investments, basically, after 60 years or something -- by the way, I feel perfectly adequately diversified. Nobody teaches that's adequate diversification. And they're dead wrong. Simple fact is that it's easier to find four things that are above average than it is to find 40…. It's going to be very hard and you're lucky if you get only a few in a lifetime. And then you have to be a combination of very patient and very aggressive. You have to sit patiently waiting, watching, surveying, hunting and pounce very occasionally. You get four pounces in a lifetime that really work big time, and that's a very successful lifetime.” —Charlie Munger

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Invest Like the Best Podcast: A Conversation with Charlie Munger & John Collison (LINK)

Today, we’re releasing a conversation between John Collison and Charlie Munger. We've had this interview with Charlie scheduled to air for a while, coinciding with Stripe Press's launch of the amazing reprint of Poor Charlie's Almanack, which is released today.

We were all stunned last week when we heard the news of Charlie's passing, but having consulted with those close to him, everyone agreed that he'd want us to release this interview. I'm thankful to be able to learn from him just one more time in this interview. Please enjoy, and may Charlie Rest in Peace.

Founders Podcast: #329 Charlie Munger (the NEW Poor Charlie’s Almanack) (LINK)