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👴🏻 I had dinner with Charlie Munger

👴🏻 I had dinner with Charlie Munger

PLUS: top wisdom from a 99-year old billionaire

Alex M.
March 24, 2023

🧙‍♂️

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GM everyone. This is 2036, the crypto newsletter that pays you 💸

Today is Favorite Friday, where we share with you some of the resources we most enjoyed this week.

So if you're looking for some sweet content to dig into this weekend, this is your list...

let’s do this

🤌 Our Top Picks

Stories to read if you’ve only got 1 minute

1/ Moody’s sees risk banking crisis cannot be contained

2/ How the banking crisis goes nuclear

3/ Is Deutsche Bank next?

🛠️ Our Favorite Resources

What we most enjoyed this week

1/ Anthony Pompliano explains the current financial crisis in plain English

Pomp is one of the most famous bitcoin educators out there. This week, he went on the MFM podcast to explain:

The current financial crisis and what’s actually happening
Balaji’s bet that bitcoin will be worth $1M within 90 days

If you only listen to one thing this weekend, let this be it.

2/ Balaji’s Tweet on why hyperinflation is coming

We don’t normally recommend Tweets as resources, but since Twitter changed their character limit to 4,000 characters, some Tweets are like short blog posts.

This is one of them - it’s a 1-min read but highly worth it.

We’ve been drilling on this issue this week because it’s important. Now, you can read the rationale from the man himself.

3/ I had dinner with Charlie Munger

Charlie Munger may call bitcoin ‘rat poison’ (we forgive you, Charlie), but he’s one of the most successful investors in history.

He’s 99 years old and still vice-chairman of Berkshire Hathaway together with Warren Buffett.

David Senra had dinner with him last week. Here are some takeaways from their chat…

“The most important lesson I learned from him that night was: GO FOR GREAT.

In typical Charlie fashion it is a combination of 4 simple ideas:

1. Charlie looks at everything through the lens of history. Human nature does not change. The same behaviors repeat forever.

2. Problems from time to time should be expected. This is an inescapable part of life.

3. Wise people do not whine about problems. They prevent them: "Wisdom is prevention." —Charlie Munger

4. Great businesses are rare. Great people are rare too. Great people and great businesses produce fewer problems.

Your mission in life is to get into a great business (and stay there) and build relationships with great people.

Doing that will prevent the majority of problems that are under your control.”

David Senra

4/ A couple of book recommendations

I recently got on a number of long-haul flights and finally managed to squeeze in:

Essentialism: The Disciplined Pursuit of Less - a phenomenal book about setting priorities and focusing on what is essential
What’s Our Problem? A Self-Help Book for Societies - a great read on the current cultural climate and what to do about it

Outlive: The Science and Art of Longevity by Peter Attia is coming out next week and is the book I have been most looking forward to in 2023.

Petter Attia’s talks on health and longevity (link, link) are some of the most important you can listen to if you want to extend your health span (the time you have in good health) and increase your quality of life.

🐦 A couple of Tweets we found interesting

The best of the bird

I gave GPT-4 a budget of $100 and told it to make as much money as possible.
I'm acting as its human liaison, buying anything it says to.
Do you think it'll be able to make smart investments and build an online business?
Follow along 👀
— Jackson Greathouse Fall (@jacksonfall)
8:48 PM • Mar 15, 2023

Congratulations to Credit Suisse on their $3bn exit. People think of startups as an overnight success, but they'd been grinding away since 1856. Sometimes you have to ignore the noise and stick to your vision.
— Benedict Evans (@benedictevans)
9:03 AM • Mar 21, 2023

The President's Annual Economic Report to Congress has a 20 page chapter focused on bitcoin with the conclusion that it is irrelevant and cannot compete with the dollar.
So irrelevant they dedicated 20 pages to it.
— ODELL (@ODELL)
2:00 PM • Mar 22, 2023

The faster Powell hikes, the faster he will have to cut. I will be buying all dips in $BTC. Thank you ser for more entry points.
$BTC = $1mm
#banktermfundingprogram = Yield Curve Control
— Arthur Hayes (@CryptoHayes)
10:24 PM • Mar 22, 2023

And check out this cool post on AI-generated selfies.

💎 We wrote a report on the top buys, sells and holdings of crypto wallets worth between $1.5 and $32 million. Refer 1 friend using this link and we’ll send over the report.