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The week's question
In December 2024, in the thread "Re: BRK: Why Not XOM?", BreckHutHigh asked the members: "What about the long road trips with kids?" This week it is put to everyone again. The button below opens the small thread re-asking it - read what others have said so far, then give your own answer as an ordinary reply.
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Stocks A to Z / Stocks B / Berkshire Hathaway (BRK.A)
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Author: Baybrooke   😊 😞
Number: of 21943 
Subject: Re: Munger on shrewdness
Date: 02/18/23 4:55 PM
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Munger three days ago:
"Some people get shrewder at adapting to their limitations and do pretty well. And so far I've had plenty of decline but I'm pretty shrewd about the way I handle it."


Based on Munger's DJCO 2023 comments, I would say 'shrewdm' gets the silver medal and 'rationalwalk' gets the gold medal!

=========================

What quality has helped you the most in life?

Well, that's easy, rationality. If you're just not crazy, you have a big advantage over 95% of the people because most people have all kinds of crazy patches. And if you just are consistently not crazy, you got a big advantage in life.

And here, patience and gratification deferred in addition to being not crazy. That's practically a cinch. And then if you're exceptionally good at satisfying your commitments to other people, then you've got ' you just automatically improved your resources and your chances in life enormously. And it's so simple. And why don't more people do it? It's an interesting question.

I don't think you can educate your children to do it automatically. I think if you have 10 children, you'll have some that are a lot better than others in doing this.

It is harder with success, age, wealth to hold on to rationality?

I think it's ' it's always hard when you get better other than if you get good at young and keep practicing. But it's never easy. If you had that question somebody asked, what one stock would you buy if you had to just rely on that one stock only? For your sole living expenses, you weren't allowed to have any income at all. You had to invest $1 million and live on that one stock. How many people would give an intelligent answer to that question in America? I don't think it's 1 in 100. They wouldn't even know how to begin.*

=========================

*present company excluded of course!
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This community has written 21,448 posts about Berkshire Hathaway. The article-length ones it recommended most:
BRK: Why Not XOM? · 62 recs · 2024
Second quarter comments · 60 recs · 2023
Berkshire's Profit Contributors · 57 recs · 2023
Summary of 2Q 2026 · 54 recs · 2026
3Q Summary · 53 recs · 2024
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