Will Your Savings Survive the August 31st Debt Ceiling Crisis?

On Aug 31, the U.S. runs out of "extraordinary measures" to avoid default. Insiders are moving into crisis-proof assets-while everyday Americans risk losing big. The FREE Mar-A-Lago Accord reveals where they're hiding wealth, how the Fed's response could crush the dollar, and 3 urgent moves to make now.

Charlie Munger Said 'You're A Total Idiot' If You're Surprised When You Lose To People Like This

Shomik Sen Bhattacharjee
August 24, 2025

Charlie Munger believed there's no substitute for hard hours and perseverance, and he once explained it in a characteristically sharp way.

Charlie Munger Correlated Relentless Work Ethic And Success

Pointing to Korea's rise in autos, the late Berkshire Hathaway vice chair argued that "only a total idiot" would be surprised to lose to competitors who outwork and outlearn you.

He cited the example of Koreans who entered and firmed their grasp on the auto industry “from nothing”. Munger said that Koreans "worked 84 hours a week with no overtime for more than a decade," while their children spent after-school hours with tutors, driven by "Tiger Moms."

The remark, recounted at Munger's 2015 Daily Journal meeting and compiled in David Clark's "The Tao of Charlie Munger," distilled a theme he returned to often, that results compound from discipline and time on task.

See Also: Trump Tariffs Are Shifting The ‘Cost Of Taxes’ From The Rich To The ‘Rest Of America,’ Says Ross Gerber

Munger Believed In The Compounding Power Of ‘Continuous Learning’

Set against the blunt language is a through-line of admiration. Munger praised societies and companies that invest in human capital and put in the hours. He also argued that the individual version of that ethic is continuous learning.

"Go to bed smarter than when you woke up," he liked to say, a habit he modeled with heavy reading and quiet thinking. He often said success belongs to "learning machines," not just the innately brilliant.

He put Warren Buffett at the top of that list. In retelling lessons from Munger's 2007 USC address, multiple accounts note that he called Buffett a "learning machine" whose compounding curiosity helped power Berkshire's durability. The message for younger strivers was simple -- read widely, think clearly and then let small daily improvements add up.

Others echo that playbook. Bill Gates reads roughly a book a week, Jeff Bezos codified "Learn and Be Curious" at Amazon, and Elon Musk credits wide, technical reading for jumping across industries.

Photo Courtesy: Kent Sievers via Shutterstock.com

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