“I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than they were when they got up and boy does that help, particularly when you have a long run ahead of you. Spend each day trying to be a little wiser than you were when you woke up. Discharge your duties faithfully and well. Step by step you get ahead, but not necessarily in fast spurts. But you build discipline by preparing for fast spurts. Slug it out one inch at a time, day by day. At the end of the day – if you live long enough – most people get what they deserve.”
– Charlie Munger, Poor Charlie’s Almanack: The Wit and Wisdom of Charles T. Munger (emphasis mine).
How does one go to bed wiser than they woke up? Is voracious learning something we must be lucky enough to be born with, or can one become a learning machine? Curiosity is a skill we can grow. The key to voracious learning is finding topics of interest, then expanding that number of topics. We do this by practicing curiosity. Channel your inner four-year-old. Ask questions about the foundations of a topic. Be willing to ask the basic or seemingly dumb questions. The more you learn, the more insightful, influential and important questions you’ll be able to ask. Following your curiosity is like following a treasure map to rich new discoveries. Curiosity is not an absence of knowledge, but an interest in how one’s accumulated knowledge relates to the yet-to-be-discovered.
We practice curiosity by asking questions. We grow by understanding how new information relates to our current knowledge or previous endeavors. Learning is a conversation, not a download.
One method of practicing curiosity is to ask three questions about new information you come across. Ask yourself who made the statement, why they might have said it, and what you think it means. Let’s use the Charlie Munger quote as an example. You might know Mr. Munger as the more social side of the partnership running Berkshire Hathaway; Munger is and has been legendary investor Warren Buffet’s friend and business partner for more than forty years. Over the decades, Munger has offered much insight into how the pair make investment decisions, the kinds of information they find valuable, and how younger people can become more successful, faster. Knowing his background sheds some light on how to receive his advice and perspective. We know that he thinks in terms of long-term return and is not a disciple of the “always be hustling” mentality. We also know that he isn’t particularly swayed by trends and prefers more time-tested business models and commodities.
Next, why did Munger offer this statement? It appears he was pondering how to succeed in life, perhaps asked a basic question on success in general – or perhaps a more specific question asking what qualities he’s observed in people who have succeeded compared to others who have not. This is long-term advice aimed at the general public, not an answer to a narrow query. Munger offers his opinion on a general observation; he is not etching qualifications into stone. The quote was included in his book, which aims to gather all the lessons and advice Munger has accumulated over his long career.
Thirdly, what do you think it means? Munger states clearly that his observations reveal a habit of people who typically succeed in life, those who tend to rise to the occasion and pass through; that habit is making learning a daily choice. Learning is an act of optimism and a long-term strategy for success. How can we put his advice into practice?
Seven quick tips for learning every day:
- Make a habit of seeking out new and quality information.
- Prune your current information sources by removing low-quality inputs and adding higher-quality sources.
- Write down what you learn.
- Revisit your older notes, to refresh your memory, and rediscover figures, mental models, ideas, etc.
- Ask questions about the videos, essays, books, passages, etc., you come across in a day.
Some examples include, “If this x true, what does it imply about y?”; “How can my thinking be less wrong about this topic?”; “What are the different viewpoints around this topic?”. - Look up the references in the books and articles you read, or in the YouTube videos you watch.
- Share what you learn in conversations or in writing. “When one teaches, two learn,” as author Robert Heinlein says.
Munger’s advice applies not only to specific tasks required of particular jobs, but also broadly to life. When you’re focused on learning, you don’t care about appearing foolish or unskilled – you already know you’re unskilled. You can then focus on closing the gap between your ability and your goals. This intellectual humility drives growth. Choosing to learn something every single day is to repeat that process of humility and growth each day. This process of daily growth also builds resilience and persistence, qualities required for any amount of sustained success. Perhaps learning itself isn’t the predictor of success, but rather the personal qualities that learning develops forge a more successful path and drives growth.
Asking questions, taking notes, and learning new things every day continues to be the sage advice of investors, philosophers, readers, and writers. Our success in the Information Age is defined by our ability to remain curious, and willing to explore the unknown.
Imagine what you could learn in month. Imagine what you could accomplish in a year – in ten years. It all starts with today.
