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Collection: Charlie Munger - #171 'Intense Interest and Assiduity'


Video Link: https://youtu.be/1DXg5vPZU9E


In this episode, Charlie Munger talks about why do you need to have an intense interest if you want to be really good at something?And what does assiduity mean?


In this episode, you’ll learn:

  • How to be really good at something?

  • A simple definition of assiduity.

To check out all Collection: Charlie Munger <click here>

 

[Transcript]

(Source: https://youtu.be/jY1eNlL6NKs)

CHARLIE MUNGER 00:00

Another thing that I found is an intense interest of the subject is indispensable if you are really going to excel on it. I could force myself to be fairly good in a lot of things, but I couldn’t be really good in anything where I didn’t have an intense interest.


So, to some extent, you’re going to have to follow me in – If at all feasible you want to drift into doing something in which you have a natural interest.


Another thing you have to do, of course, is have a lot of assiduity. I like that word because it means “sit down in your ass until you do it.”


I once – I’ve had marvellous partners all my life. I think I got them partly because I tried to deserve them and, partly, because I was wise enough to select them and, partly, maybe it was some luck.


But two partners that I chose for one little phase of my life had the following rule and they created a little design-build construction team. And they sat down and said, “Two-man partnership. Divide everything equally. Here’s the rule: Whenever we're behind in our commitments to other people, we will both work 14 hours a day until we're caught up.”


Needless to say, that firm didn’t fail! The people died rich. It’s such a simple idea. It’s such a simple idea.

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