Economics & Reality

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If you have read any economics literature, you know that for all decision making it assumes that the decision maker is a "rational man". Well, I don't think many decisions are made based on rationality. Emotion is a much powerful force than rationality and plays bigger role in decision making than rationality. Now, think about leadership and inspiring people. A good leader must connect with people at an emotional level to inspire them. Think Gandhi, Martin Luther King, and others.

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Marry the best who will have you and other wisdom from Munger and Buffett

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Obituary: Charles T. Munger

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My hero, Charlie Munger , passed away on November 28th, 2023. He was 99 years old.  I met Munger in 2007 at my first Berkshire Hathaway shareholder meeting . It was admiration at first few words. I liked his depth of understanding in multiple domains, his honesty, and his willingness to share his wisdom. Since then I have read all his available writings and seen him many times in Omaha or Los Angeles at various shareholder meetings. He profoundly influenced Warren Buffett and the entire investing and business world. The world has lost a great leader, thinker, and teacher.  Munger's response to my letter      Since meeting Munger, I continue to learn from him and share what I am learning.  Following are a few Munger teachings that have become my habits:  1. Inversion: When you want to solve a problem, start with inverting the problem. For example, if you have to figure out how to keep the airplanes safe, work on figuring out how they can crash...
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Systems Thinking as taught by Ackoff

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