Collection: Charlie Munger - #228 'It Is A Mistake To Hate That Much'



[Transcript]

SCOTT DERUE 00:00

A piece of advice that you've offered and given to me, which is, you know, people often have a point of view and the danger in having that point of view is you start to assume with certainty that you're right.


CHARLIE MUNGER 00:16

Absolutely, totally crazy.


SCOTT DERUE 00:18

And I think what your point of view is you need to have a point of view –


CHARLIE MUNGER 00:24

Here's a very important subject, I've thinking about all my life. You asked for my opinion, I don't really know how well it's going to work, I don't think anybody else does either. I think it'll work to some extent, but how much, I don't know.


Now, is it unfair? Well, corporations are by and large owned by a bunch of charitable endowments and by a bunch of pension plans. And the whole world is going into a world where they're trying to have the business interests of the company support their huge pension obligations which are getting bigger all the time.


China is trying to do exactly what the Republicans are. China wants to have the main businesses in China owned more by the pension plans and the stocks to do well. I don't think China's crazy to have that at all, and I don't think Republicans are crazy either. It could work pretty well.


And it's not just some evil thing that people are cooking up. It's a disagreement between people, and both sides who have violent hatreds and contempt for the other side – they're wrong. It's a disagreement on policy that ought to be civilized.


When I see Congress on my television set, and the degree of hatred they have. Uttered contempt – I mean really serious and way more than as usual – it's evil to hate that much. It's a mistake to hate much, that much hatred will turn – It's always been true that anger comes in reason leaves. it's a truism.


So, do you want to adopt a political point of view where you're angry all the time? If you do, welcome to the house of misery and pretty low worldly achievement to boot. So if that's what you want – you just found out how to do it – just behave like those people you see on television.


SCOTT DERUE 02:33

Well, the other thing that's –


CHARLIE MUNGER 02:34

In both parties by the way.


SCOTT DERUE 02:35

The other thing that's true going back to one of your earlier comments is the difference between a careerist mindset and a service or shareholder mindset. Where in politics we have the emergence of a careerist mindset that is shaping how people behave because they're trying to survive.


CHARLIE MUNGER 02:56

Not only that, they have a group think just as the Moonies go crazy because they hang around together, so do our politicians. And do you want to go crazy? Is that what your ambition in life? You start with some advantage?


Just make yourself a violently-believing politician on either side, and they'll turn your brain into cabbage. You only got one brain, why would you want to turn into a cabbage?


(Source: https://youtu.be/S9HgIGzOENA)

 

[YAPSS Takeaway]

  • "Well, corporations are by and large owned by a bunch of charitable endowments and by a bunch of pension plans. And the whole world is going into a world where they're trying to have the business interests of the company support their huge pension obligations which are getting bigger all the time." ~Charlie Munger

  • "It's always been true that anger comes in reason leaves. it's a truism." ~Charlie Munger