Munger's Mental Models #10: Becoming friends with the eminent dead

Mental models

In this short series of blogs and videos, in honour of the late Charles Munger, I take a look at some of his most powerful mental models.

Leaders are readers

Consider this quote from Charlie Munger:

"In my whole life, I have known no wise people (over a broad subject matter area) who didn't read all the time. None. Zero. You'd be amazed at how much Warren (Buffett) reads - and at how much I read. My children laugh at me. They think I'm a book with a couple of legs sticking out."

Now your preferred medium of information exchange may be audiobooks, podcasts, or YouTube videos, but it's an important concept nevertheless...

On the shoulders of giants

Munger once said:

"I think you learn economics better if you make Adam Smith your friend."

Which is interesting and a little odd, because Adam Smith died in 1790, so he can't be your friend in any conventional sense of the word.

The quote continues:

"That sounds funny, making friends among the “eminent dead,” but if you go through life making friends with the eminent dead who had the right ideas, I think it will work better for you in life and work better in education"

This wasn't an entirely new idea, as such, since it echoes the earlier concepts of Seneca, Epicurus, and the stoic philosophers.

We live in a remarkable age, where there is more information available - often for free - than ever before...on Amazon, YouTube, Spotify, Audible, and indeed in good old-fashioned books!

It's possible to use this amazing library  of riches to stand on the shoulders of giants, and to achieve more while avoiding key mistakes.

Millionaire mentors

When choosing your mentors, don't restrict yourself to the living.

And be careful to listen to the right voices, by choosing your mentors wisely.

Like a modern-day fan following Taylor Swift, you can follow the eminent dead and study them intensely to get inside their head.

Come to think of it, it's what I've been doing myself with Munger in this short video series.

 I discussed this a little further in the short video below:

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