Charlie Munger: Advice for a Good Life (USC Commencement Address)

Charlie Munger, the famed investor, offers graduates a roadmap for a good life.  He emphasizes building robust mental models by drawing on diverse disciplines.  This "toolbox" allows for clear thinking and sound decision-making.  Munger champions "inversion thinking," where considering the opposite of a problem reveals hidden issues. He stresses the importance of work ethic and reliability, highlighting the dangers of procrastination and unreliability.

Lifelong learning is key for Munger. Graduates are urged to embrace intellectual curiosity and seek out knowledge from various sources. Recognizing and correcting weaknesses fuels personal growth. The speech acknowledges life's challenges, encouraging a Stoic approach: accept the unchangeable and focus on what you can control. Learning from historical failures across fields is another pillar of Munger's advice, allowing us to navigate life's complexities more effectively.

By adopting these principles – strong mental models, embracing learning, and practising self-awareness –  Munger believes we can increase our chances of leading successful and fulfilling lives.

Full Speech Link
https://www.youtube.com/watch?v=lqqRzNC3QyU