IFB113: Charlie Munger’s “Invert, always Invert”
Announcer: 00:00 You’re tuned in to the Investing for Beginners podcast. Finally, step by step premium investment guidance for beginners led by Andrew Sather and Dave Ahern. To decode industry jargon,
Summary
Announcer: 00:00 You’re tuned in to the Investing for Beginners podcast. Finally, step by step premium investment guidance for beginners led by Andrew Sather and Dave Ahern. To decode industry jargon, silence crippling confusion and help you overcome emotions by looking at the numbers, your path to financial freedom starts now. Dave: 00:36 All right folks, we’ll welcome to Investing for Beginners podcast. This is episode 130 tonight, Andrew, and I are going to talk a little bit about they called an inversion. I came across this great blog post from a gentleman named James Clear who talks a lot about habits and developing different patterns and ways that we can think better and work better with our minds and how we can set ourselves up to have better processes in our lives. And he talked about inversion. So if those of you who are not familiar with inversion, inversion means that you take something and you turn it upside down, and you look at it from a different angle or a different way. And I’ve talked a little bit about this in the past. And Charlie Mugger is a big fan of a; I’m a big fan of Charlie monger. I was going to say; he’s a big fan of mine. That’s so not true. , I’m a big fan of Charlie Munger and the way he thinks. He’s a very, very deep guy. Dave: 01:33 And he talks a lot about inversion in his blog posts, in his books, in his speeches that he gives. And he’s always quoting this term, invert, always invert. And you got that from a mathematician named, Carl Jacobi and this is a German mathematician, and he was famous for figuring out very, very hard problems by inverting them. And by, what he meant by this was that he would take a math problem and look at the answer and try to work backward to try to figure out how to solve the problem as opposed to looking at the problem and then moving forward trying to figure out what the answer would be. And he felt like that that was a powerful way for him to look at the roadblocks and figure out backward how to look at things. And this is something that I do myself when I’m trying to figure out how to work with different formulas and things that are a little bit above my pay grade so to speak is I will look at the answers and
First published
08/01/2019
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Duration
38 minutes
Parent Podcast
The Investing for Beginners Podcast - Your Path to Financial Freedom
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