Charlie Munger praises this 1 skill of Warren Buffett's. Without it, 'you won't get very far in life,' he says. via CNBCMakeIt
Buffett told author Michael Eisner: "Look, my job is essentially just corralling more and more and more facts and information, and occasionally seeing whether that leads to some action. And Charlie — his children call him a book with legs."How Warren Buffett realized he and business partner Charlie Munger "were sort of made for each other"Buffett plays bridge — and it keeps him, at 88, as sharp as ever. "I play a lot," hewith The Washington Post.
Munger practices "multidisciplinary thinking," which essentially means constantly learning new perspectives of the world — and then putting them into practice. In his speech, he argues that you can't make smart decisions with just isolated facts. The knowledge you gather from "learning all the big ideas and all the big disciplines" will help you attack problems from different angles.
"I went through life constantly practicing this model of disciplinary approach," he says. "I can't tell you what that's done for me. It's made life more fun. It's made me more constructive. It's made me more helpful to others. It's made me enormously rich."It's impossible to achieve a legendary status by keeping valuable knowledge all to yourself.
As Munger says, "the sacrifice, wisdom and value transfer that comes from one generation to the next can never be underrated."It would be downright silly to pretend that knowledge alone will turn you into a billionaire. There are many other factors at play, but the most important one is to take action."I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines," he says.
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