Charlie Munger didn't just play the long game — he practically invented it. The billionaire investor, vice chairman of Berkshire Hathaway, and Warren Buffett's right-hand man made it to 99 years old with his wit intact, his house unchanged, and his Diet Coke still bubbling. But if you asked him, he could've done better. A lot better.
"I'd be the richest man on Earth," Munger told CNBC's Becky Quick in a 2023 interview, if he had the chance to rewind the last 100 years. He wasn't joking. Well, maybe a little. But the regret wasn't about yachts or private islands — it was compounding.
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"I would've started earlier, compounded longer, compounded better," Munger said, as if those three tweaks wouldn't turn every finance bro's playbook inside out. In classic Munger fashion, he didn't blame bad luck or bad markets. He blamed himself — with a smirk. "I basically screwed up," he said. "Given the hand I dealt, I could've done a lot better."
Keep in mind: this is the same guy who built a billion-dollar fortune, helped shape one of the most successful companies in the world, and lived in the same house for over 70 years. But he still thought he left money on the table.
Munger's Mansion Theory: Bigger House, Smaller Happiness
Unlike many billionaires who bounce between mega-mansions, Munger stayed put. "Having a basic house really helps you," he explained. Fancy houses? Great for parties, not so great for peace of mind.
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He and Buffett saw it play out over and over again. Friends got richer, homes got fancier, but contentment? Not so much. "In practically every case, they make the person less happy," Munger said.
The Real Trap? Losing Your Sanity
Money wasn't the hard part. "Staying sane," he said, "that's the trick." That's not a motivational quote — it's a warning. Munger was obsessed with avoiding dumb mistakes: addiction, bad habits, lifestyle creep, and yes, cigarettes.
When asked what the real secret was, he didn't pitch a formula. He just doubled down on what not to do. "Avoid crazy at all costs," he said. "Crazy is way more common than you think."
His entire game plan boiled down to one idea: "You teach me the wrong way to play poker, I will avoid it. You teach me the wrong way to do something else, I will avoid it."
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The Billionaire Who Thought He Messed Up
Munger lived for almost a century, built empires, avoided the traps, and made a fortune while calling himself "cautious." But even he thought he could've done better.
That's the genius and the irony. The man who avoided crazy, skipped the mansions, dodged addiction, and drank Diet Coke like it was a health tonic still thought he left wealth on the table.
Maybe that's what made him great. Or maybe — just maybe — that's why he lived to nearly 100 in the same house, with the same best friend, and the same unbeatable mindset.
Avoid crazy. Avoid regret. Keep it simple. And don't trust anyone who says peanut brittle isn't part of a well-balanced life.
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