Good Habits Are Beneficial. Bad Habits Have to Be Avoided

Good Habits Are Beneficial. Bad Habits Have to Be Avoided

Charlie: “The engineering idea of breakpoints that’s a very powerful model. The notion of a critical mass that comes out of physics is a very powerful model. Tipping point is a very correct idea even at an individual level it’s called habit. When Marley’s miserable ghost says, ‘I wear the chains I forged in life,’ he is talking about chains of habit that were too light to be felt before they became too strong to be broken. The rare life that is wisely lived has in it many good habits cultivated and maintained and many bad habits avoided or cured.”

The source then includes Buffett’s recollections of Munger, including an architecture aside. The ages and references to the present in these historical quotations belong to that account.

Buffett: “If you’ve attended our annual meetings, you know Charlie has a wide-ranging brilliance, a prodigious memory, and some firm opinions. I’m not exactly wishy-washy myself, and we sometimes don’t agree. In fifty-six years, however, we’ve never had an argument. When we differ, Charlie usually ends the conversation by saying: ‘Warren, think it over and you’ll agree with me because you’re smart and I’m right.’”

“What most of you do not know about Charlie is that architecture is among his passions. Though he began his career as a practicing lawyer (with his time billed at fifteen dollars per hour), Charlie made his first real money in his thirties by designing and building five apartment projects near Los Angeles. Concurrently, he designed the house that he lives in today—some fifty-five years later. In recent years, Charlie has designed large dorm complexes at Stanford and the University of Michigan, and today, at 91 age, he is working on another major project.”