4 min read
We’ve all heard about the magic of compounding interest. Something equally powerful is mental compounding interest. Here’s some advice from the investor Charlie Munger that I read in the book, University of Berkshire Hathaway:
“He (Munger) got the idea to add a mental compound interest as well. So he decided he would sell himself the best hour of the day to improving his own mind, and the world could buy the rest of his time. He said it may sound selfish, but it worked. He also noted that if you become very reliable and stay that way, it will be very hard to fail in doing anything you want.”
I’ve been calling this idea the Munger Technique since I learned about this. But when I mention this to my students, team, or friends, the majority assumes that Munger is talking about a morning ritual.
4 min read One of my favorite ways to learn is by studying people who have been on this planet for seven decades or more. One of those people is my grandfather, who’s 87 years old, and still takes care of himself. I also met several highly successful […]
4 min read Imagine that life consisted of one long construction project of a house. And imagine that you were born with one tool attached to your hand. Let’s say you were born with a hammer. Your primary skill is to slam nails into wood. But that’s not all […]
6 min read Mental toughness means you’re good at dealing with the demands of life. It means you can perform under pressure. I’ve been researching this topic extensively since the start of this year. I found a 2019 study that looked into the relationship between different personality traits […]