I can’t say anything about Charlie Munger that has not been said already, but I can share my take on my favorite quote of his.
“It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.”
— Charlie Munger
When I’m stuck on a problem or trying to choose amongs options, asking myself, “Which option do I think I will regret less” is always find helpful.
Take actions that you think will prevent or minimize future regret vs. the other options available.
That’s it. In a way, it’s an iteration of Doing Favors for your Future Self.
Most people (rightfully) apply Munger’s wisdom to investing, finance, or business.
It works just as well outside of business.
I’ve used it to optimize decisions about spending my free time, what to say to a friend in need, and thinking through how to handle interpersonal disputes.
Upon reflection, a second theme emerged.
If you are struggling with what to do in a given situation, the path of less future regret is the path where you do more, not less.
If a relationship is struggling, the “prevent future regret” action is to try harder, not give up.
If you are struggling with a plateau in your health or wellness, putting in the extra effort in time is the path of less future regret.
As I reflect on my regrets – and the regrets that others have been kind enough to share with me, “I wish I would have done more” is exponentially more common than “I wish I would have done less.”
If you find yourself frustrated with something, trying harder, doing more, or giving it one more shot is almost always the safer bet.
Here’s an excellent post about Munger and preventing regret: Charlie Munger: The Power Of Not Making Stupid Decisions
Iterations 