Munger says there are seven things you should avoid in life:
Sloth
Unreliability
Intense ideology
Self-serving bias
Perverse incentives
Perverse associations
Influences that will compromise your objectivity
Munger also says that life will have terrible, horrible, unfair blows in it. You have to find the silver-lining in those blows, avoid self-pity, and carry on.
Finally, Charlie Munger believes that “the highest form which civilization can reach is a seamless web of deserved trust. Not much procedure just totally reliable people correctly trusting one another.”
He says this is how the operating room works at the Mayo Clinic. If a bunch of lawyers were to introduce a lot of processes and procedures, then the patients would all die.
So, what you want in your own life is a seamless web of deserved trust. And if your proposed marriage contract has 47 pages, Munger’s suggestion is “do not enter”.
