Happy Holidays!

Today, I wanted to share 5 lessons from one of the greatest investors of all time, Charlie Munger. He was vice chairman of Berkshire Hathaway, the conglomerate controlled by Warren Buffett, from 1978 until his death in 2023.

This wisdom from Charlie Munger not only applies to being a successful investor, but living a successful life.

Let’s do this!

The Key Story

Top 5 Lessons From Charlie Munger

1. Pick Role Models—Dead or Alive
   Munger famously advises that you can learn just as much (or more) from the “eminent dead” as you can from people who are still living. Study the lives and achievements of great minds across history—reading biographies, absorbing their methods, and modeling their virtues. This keeps your standards high and offers guidance that transcends current trends.

2. Be a Lifelong Learning Machine
   One of Munger’s central themes is that “wisdom acquisition is a moral duty.” You don’t succeed by standing still on yesterday’s knowledge. Continually read, question, and study to become a bit wiser at the end of each day than you were at the start. This compounding of knowledge builds a powerful advantage over time, whether you’re an investor, entrepreneur, or professional in any field.

3. Deserve What You Want—Character & Friendship Matter
   According to Munger, the safest and most ethical way to get what you want is to deserve it. That means delivering on promises, building a reputation for honesty, and treating others the way you’d like to be treated. True friends gravitate toward reliability and integrity, and Munger reminds us that a life without genuine friendships is empty—no matter how much money you have.

4. Keep It Simple & Invert the Problem
   Simplicity is one of Munger’s core principles. He favors easy-to-understand companies, clear accounting, and transparent operations. Complexity can lead to confusion and mistakes. When you’re stuck, try his “inversion” technique: instead of asking “How can I succeed?”, ask “What would guarantee failure?” By steering clear of worst-case pitfalls—like overspending, laziness, and fraud—you naturally improve your odds of success.

5. Opportunity Favors the Prepared Mind
   Munger underscores that recognizing obvious opportunities—like a dying newspaper competitor or a straightforward acquisition—often yields tremendous returns. But those “obvious” moments reveal themselves only if your mind is primed to see them. Stay curious, guard against rigid ideologies, and maintain enough independence to evaluate each idea’s merit rather than relying on flashy sales pitches or the crowd’s opinion.

These five insights form a concise distillation of Charlie Munger’s philosophy: learn voraciously, emulate the right models, cultivate strong character, streamline wherever possible, and remain prepared for chance openings.

By keeping these principles in mind, you’ll be better equipped to invest, manage, and live more wisely.

This Email Was Brought To You By…

Long Angle: A Vetted Community for High-Net-Worth Entrepreneurs and Executives

• Private, vetted community offering confidential discussions and education

• Entrepreneurs and executives, 30–55 years old, with $5M to $100M net worth

• Preferential access to top-tier alternative investments

Join Long Angle Today

Thanks for the read! Let me know what you thought by replying back to this email.

— Zach

Disclaimer: Dividend Dividend (Dividend Data LLC) is not a professional financial service. All materials released from Dividend Data (Dividend Data LLC) are for educational and entertainment purposes. Dividend Data (Dividend Data LLC) is not a replacement for a professional's opinion. Contributors to the Dividend Data (Dividend Data LLC) might have equities mentioned in the newsletter