Christmas Edition
It’s the most wonderful time of the year - like Andy Williams sang correctly, I would just like to give you a few Christmas wishes this week.
Let’s forget about investing for the next few days. At least until after the New Year. Markets will still be there. Portfolios will still be there. But time with family and loved ones is not something we get to compound later.
When I think about family and health, I often think of Charlie Munger and Warren Buffett. Charlie lived a remarkably long life, and Warren continues to defy age. I’m sure part of the reason is not just luck (probably good genes, too), but deep curiosity, genuine interest in the world, and the fact that they truly love what they did.
I still remember the first Berkshire Hathaway meeting after Charlie’s passing. Warren was asked what he would do if he had one more day with him. His answer was simple and deeply revealing:
“In effect, we already did have one more day. We lived every day doing what we enjoyed doing. Charlie liked learning, he liked a wide variety of things, and we had a lot of fun doing anything together. If I’d had another day with him, we would’ve done the same things we’d always done, and we wouldn’t have wanted to know it was the last day.”
He added something that has stayed with me ever since:
“There’s a great advantage in not knowing the day you’re going to die.”
Here is the video of Warren’s very humorous and touching answer:
There’s something quietly profound in that.
I wish you and your families a wonderful holiday season filled with health, happiness, and a bit of perspective. May the new year bring calm minds, good decisions, and the kind of prosperity that extends beyond portfolios.
Best wishes,
The Tiny CIO