Pump It To Full

Today, I was reading the latest edition of "Poor Charlie's Almanack" to refamiliarize myself with Charlie Munger's wisdom while preparing for next year's Berkshire Hathaway trip to learn from the Buffetts.

I particularly enjoyed how Charlie Munger's son, Charles, described a life lesson he learned from his dad at a gas station. Charles Munger wrote:

“On the last day of a family ski vacation in Sun Valley when I was 15 or so, my dad and I were driving back in the snow when he took a 10-minute detour to gas the red Jeep we were driving. He was pressed for time to have our family catch the plane home, so I was surprised to notice as he pulled into the station that the tank was still half full. I asked my dad why we had stopped when we had plenty of gas, and he admonished me, "Charlie, when you borrow a man's car, you always return it with a full tank of gas."

My freshman year at Stanford, an acquaintance lent me his car, more because friends we had in common twisted his arm than because he knew me all that well. The tank was half full, and the Audi Fox was red. So I remembered the Jeep and topped up the tank before I brought the car back. He noticed. We've had a lot of good times since, and he stood as a groomsman at my wedding.

After Stanford, I learned that on that vacation we had been staying at Rick Guerin's house and driving Rick Guerin's Jeep. Rick is one of my dad's friends who, on his return to Sun Valley, certainly wouldn't have been troubled, and was unlikely even to notice, if his Jeep had had less gas than when he left it. My dad still didn't skip a point of fairness and consideration. So I was taught that day not only how to get a good friend but also how to keep one.”

I love reading personal stories like this about Charlie Munger. Although it's a simple everyday encounter, the lesson Munger shared is priceless.

Another Munger quote that resonates with me is his response to the question, "How do you find a good spouse?"

He replied: "The best single way is to deserve a good spouse."

There's so much wisdom in his simple words.

As I shared in my 34th birthday reflections, I've increasingly realized the importance of loving and supportive relationships in my life. I want to work even more on my character to deserve good friends, a good partner, and a good spouse.

I'm immensely grateful to have you all on this journey, so we can improve and become better, not just as investors but as humans.

No matter how busy you are, remember to spend quality time with your loved ones. You could go for a movie, take a stroll in the park, or simply enjoy a family BBQ.

I hope you find this newsletter helpful!

If no one has ever told you yet, I just want to tell you that you are an amazing investor who is capable of creating abundant wealth for yourself and your loved ones! Regardless of what setbacks you’ve faced before, they will make you stronger and wiser.

So keep going on your investing journey! Let’s improve and keep learning, so we can create greater wealth and happiness together! 😃 

Arigato!

Chloe
Arigato Investor