Generally speaking, envy, resentment, revenge, and self-pity are disastrous modes of thought. Self-pity gets pretty close to paranoia and paranoia is one of the very hardest things to reverse. You do not want to drift into self-pity.
Charlie Munger has not joined FLAPSS and has not endorsed it. This page is a reference record assembled from published interviews and public remarks. Every answer below is a direct quotation with the source and date shown next to it.
Charlie Munger
Vice chairman of Berkshire Hathaway, 1978–2023
United States · b. 1924
Business and finance
About
Was vice chairman of Berkshire Hathaway from 1978 until his death in 2023, and chairman of Wesco Financial and the Daily Journal Corporation. Trained as a lawyer at Harvard Law School and practised in Los Angeles before moving into investment.
12 answers
I realized very early that non-egality would work better in the parts of the world I wanted to inhabit. What do I mean by non-egality? I mean John Wooden, when he was the number one basketball coach in the world. He just said to the bottom five players, “You don't get to play. You're sparring partners.” The top seven did all the playing.
John Wooden, when he was the number one basketball coach in the world. He just said to the bottom five players, “You don't get to play. You're sparring partners.” The top seven did all the playing.
The highest form that civilization can reach is a seamless web of deserved trust. Not much procedure, just totally reliable people correctly trusting one another. That's the way an operating room works at the Mayo Clinic. If a bunch of lawyers were to introduce a lot of process, the patients would all die. So never forget, when you're a lawyer, that you may be rewarded for selling this stuff, but you don't have to buy it. In your own life, what you want is a seamless web of deserved trust. And if your proposed marriage contract has forty-seven pages, my suggestion is you not enter.
Every quotation above is reproduced from the source shown beside it and has not been edited. Charlie Munger did not write these answers for FLAPSS. Request a correction or removal.