The basics

Lessons from Charlie Munger -> https://theprofile.substack.com/p/the-profile-dossier-charlie-munger

The avoidance of stupidity is more important than the pursuit of excellence. You have a moral duty to make yourself as un-ignorant and un-stupid as you can. Mental models refer to the frameworks that help us simplify and understand the world. They also help us clarify our thinking and make better decisions.
On how to live a good life: Munger’s 1986 speech “How to Guarantee a Life of Misery”.
How to Guarantee a Life of Misery:
1) ingesting chemicals in an effort to alter mood or perception;
2) envy and resentment;
3) unreliability;
4) letting life get you down; and
5) not learning from past mistakes.

On the psychology of human mis-judgement: In this speech, Munger deconstructs all the various ways we distort reality. He talks about how you can apply behavioral economics to business and life.
On developing a latticework of mental models: One of Munger’s tips for living a great life is that we should all become collectors of mental models that serve us. These models can be collected from a multitude of disciplines like math, computer science, psychology, biology, and physics. He shares several, including his original insight that he dubbed, “The Lollapalooza Effect.”
The Lollapalooza Effect:
The basis of the Lollapalooza Effect is that humans have many inherent biases and tendencies that can sway our behaviour. When several of these biases act together to drive us toward a particular action, you have a Lollapalooza effect. The Lollapalooza effect can create large-scale drivers of human behaviour.

No one is infallible, and you need to operate within the subject areas you know best. “Humility means you know the edge of your own competence,” he says. “You are a disaster if you don’t know where the edge lies.”
Learn from those who came before you: Marcus Cicero is famous for saying that the man who doesn’t know what happened before he was born goes through life like a child. Originality is derived from the learnings of the mistakes and successes of the people who came before us.
“Eventually his own original work attracted wide attention and he said of that work: ‘If I have seen a little farther than other men, it is because I stood on the shoulders of giants.’” That man was Isaac Newton.

Inspired by the German mathematician Carl Gustav Jacob Jacobi, Munger says, “Invert, always invert.” There is benefit to approaching the problem from the opposite end.
Here’s how the mental model works: You flip the problem around and think backward. For example, rather than asking, “What new behaviors can I take on to ensure I have a successful marriage,” it might be more useful to ask, “What behaviors could ruin my marriage?” Avoiding the most common behaviors that lead to divorce may be more helpful than trying to figure out the ingredients for a successful partnership.
Keep your emotions under control: You need patience and discipline and an ability to take losses and adversity without going crazy. You need an ability to not be driven crazy by extreme success. Adopt a long-term focus, stay patient, and avoid taking action impulsively.
The “iron prescription”:
Make sure you doesn’t become a slave to your beliefs. “I’m not entitled to have an opinion on this subject unless I can state the arguments against my position better than the people do who are supporting it, I think only when I reach that stage am I qualified to speak.” - says Munger.

“The best thing a human being can do is to help another human being know more.”
“You must force yourself to consider opposing arguments. Especially when they challenge your best loved ideas.”