查理·芒格逝世
当地时间11月28日，沃伦·巴菲特（Warren Buffett）挚友和商业伙伴、伯克希尔-哈撒韦董事会副主席查理·芒格（Charlie Munger）去世，终年99岁。
🤔️小作业：
1. What principle did Munger and Buffett apply when evaluating potential investments?
A) Diversifying their investment portfolio.
B) Prioritizing investments they fully understood.
C) Investing in high-risk, high-reward ventures.
D) Relying on expert opinions for investment decisions.
A) Consistently following industry trends.
B) Regularly destroying one's own cherished ideas.
C) Always consulting with a team before making decisions.
D) Relying on past experiences without seeking new information.
无注释原文：
The Secrets to Charlie Munger's Success
From: The Wall Street Journal
Business and financial leaders made frequent pilgrimages to Los Angeles to hear Charlie Munger's thoughts as he held court while peering through thick eyeglasses over high, rosy cheekbones.
Among the attendees at his weekly “Friday lunch club” and periodic dinners were John and Patrick Collison, founders of the online payment firm Stripe; Bobby Kotick, chief executive of videogame company Activision Blizzard; Pradeep Khosla, chancellor of the University of California, San Diego; Maria Pope, chief executive of Portland General Electric, Oregon's largest utility; and Howard Marks, co-founder of investment firm Oaktree Capital Management.
Munger died Tuesday at the age of 99. His weekly lunch guests came largely to hear him him talk about the “latticework” of “mental models” that he said helped explain his success and that of Berkshire Hathaway, where he was vice chair:
'Invert, always invert'
As a military meteorologist during World War II, Munger didn't ask what would keep pilots safe. Instead, he pondered what could kill them, then focused all his effort on trying to predict snow, ice or fog—and ignored everything else.
Know your circle of competence
Munger often said he and Buffett were quick to throw potential investments into a “too-hard” pile. If they couldn't understand it, they just moved on.
Keep a list of 'asininities' and avoid them
Munger wrote a long essay, “The Psychology of Human Misjudgment,” summarizing 25 types of cognitive errors.
Think in multiple dimensions
Munger told how, as a lawyer, he more than doubled the appraised value of a client's property by realizing that it wasn't just the acreage, but also its changes in altitude, that made it desirable.
'Over, under and kapow!'
In artillery training, Munger noted, recruits learn to bracket the target by overshooting, undershooting and then hitting it. He estimated investment values the same way, deliberately oversizing, undersizing, then landing in the middle.
Embrace your mistakes
“I like people admitting they were complete stupid horses' asses,” Munger said in 2017. “I know I'll perform better if I rub my nose in my mistakes. This is a wonderful trick to learn.”
'Destroy your own best-loved ideas'
Being good at that is “part of the reason I've been a little more successful than most people,” he told the Journal in 2019. “I'm pleased when I can destroy an idea that I've worked very hard on over a long period of time.”
Become a learning machine
“We all start out stupid and we all have a hard time staying sensible, and you have to keep working at it,” Munger told an audience at the University of Redlands in California in 2020. That requires reading constantly—and not just in your own area. “I never liked [specialization],” he said. “I like romping over a whole field.”
- ◆ -
注：完整题目见本文开头；中文文本为华尔街日报官方译文，仅供参考
含注释全文：
芒格的成功秘籍
The Secrets to Charlie Munger's Success
From: The Wall Street Journal
Business and financial leaders made frequent pilgrimages to Los Angeles to hear Charlie Munger's thoughts as he held court while peering through thick eyeglasses over high, rosy cheekbones.
商界和金融界领袖经常到洛杉矶朝圣，聆听查理·芒格（Charlie Munger）的想法。芒格会被众人围绕着，红红的高颧骨上架着眼镜，透过厚厚的镜片端详大家。
pilgrimage
pilgrimage /ˈpɪlɡrɪmɪdʒ/ 1）表示“朝圣，朝觐”，英文解释为“a special journey made by a pilgrim”，如：make a pilgrimage/go on a pilgrimage to... 去...朝圣。
2）表示“朝圣之旅；参拜之行”，英文解释为“a visit to a place that is considered special, where you go to show your respect”举个🌰：For many fans, the national stadium is a place of pilgrimage. 对许多足球迷来说，国家体育馆就是圣地。
hold court
表示“（尤指在社交场合）引起周围人的注意”，英文解释为“to receive a lot of attention from other people who stand or sit around you to listen, especially on a social occasion”举个🌰：He is holding court at the end table. 他在茶几旁被不少人围着。
peer
作动词，表示“仔细看，端详；费力地看”，英文解释为“to look carefully or with difficulty”举个🌰：When no one answered the door, she peered through the window to see if anyone was there. 没有人开门，她就费力地透过窗户朝里望去，看是否有人在。
作名词，表示“同龄人；同辈；同等社会地位（或能力）的人”，英文解释为“a person who is the same age or has the same social position or the same abilities as other people in a group”举个🌰：Do you think it's true that teenage girls are less self-confident than their male peers? 你是否认为十几岁的女孩子不如同年龄的男孩子自信？
rosy
rosy /ˈrəʊ.zi/ 表示“红润的”，英文解释为“having a colour between pink and red”举个🌰：Your rosy cheeks always make you look so healthy. 你脸色红润，看上去总是那么健康。
2）表示“光明的；有希望的；美好的”，英文解释为“If a situation is described as rosy, it gives hope of success or happiness.”举个🌰：Our financial position is rosy. 我们的经济状况良好。
cheekbone
cheekbone /ˈtʃiːk.bəʊn/ 表示“颧骨，颊骨”，英文解释为“one of the two bones at the top of your cheeks, just below your eye and towards your ear”举个🌰：She has the high cheekbones of a supermodel. 她长着超级模特式的高颧骨。
Among the attendees at his weekly “Friday lunch club” and periodic dinners were John and Patrick Collison, founders of the online payment firm Stripe; Bobby Kotick, chief executive of videogame company Activision Blizzard; Pradeep Khosla, chancellor of the University of California, San Diego; Maria Pope, chief executive of Portland General Electric, Oregon's largest utility; and Howard Marks, co-founder of investment firm Oaktree Capital Management.
他每周举行一次“周五午餐俱乐部”（Friday lunch club）活动，还定期办晚宴，座上宾包括线上支付公司Stripe创始人John Collison和Patrick Collison、游戏公司动视暴雪（Activision Blizzard）首席执行官Bobby Kotick、加州大学圣地亚哥分校（University of California, San Diego）校监Pradeep Khosla、俄勒冈州最大公用事业公司Portland General Electric首席执行官Maria Pope，以及投资公司Oaktree Capital Managemen联合创始人Howard Marks。
attendee
attendee /ə.tenˈdiː/ 表示“出席者，参加者”，英文解释为“someone who goes to a place, event, etc.”
periodic
periodic /ˌpɪə.riˈɒd.ɪk/ 表示“周期（性）的；定期的”，英文解释为“happening repeatedly over a period of time”举个🌰：He suffers periodic mental breakdowns. 他周期性地精神失常。
chancellor
chancellor /ˈtʃɑːn.səl.ər/ 表示“（政府）大臣，总理，大法官；（大学）校长”，英文解释为“a person in a position of the highest or high rank, especially in a government or university”举个🌰：He became the first Chancellor of a united Germany in 1990. 他于1990年成为德国统一后的首任总理。
utility
表示“公用事业；公共设施”，英文解释为“A utility is an important service such as water, electricity, or gas that is provided for everyone, and that everyone pays for.”如：public utilities such as gas, electricity and phones 煤气、电和电话等公用事业。
Munger died Tuesday at the age of 99. His weekly lunch guests came largely to hear him him talk about the “latticework” of “mental models” that he said helped explain his success and that of Berkshire Hathaway, where he was vice chair:
芒格周二去世，终年99岁。他每周的午餐会上都有客人前来，主要是为了听他讲述“心智模型”的“格子结构”，他说这些“心智模型”有助于解释他和伯克希尔哈撒韦公司（Berkshire Hathaway）的成功之道。芒格是该公司的副董事长。
latticework
lattice /ˈlæt.ɪs/ = latticework 表示“格子木架，格子金属架，格栅”，英文解释为“a structure made from strips of wood or other material that cross over each other with spaces between”
'Invert, always invert' “逆向思考，永远逆向思考”
As a military meteorologist during World War II, Munger didn't ask what would keep pilots safe. Instead, he pondered what could kill them, then focused all his effort on trying to predict snow, ice or fog—and ignored everything else.
二战期间，作为一名军事气象学家，芒格并没有问什么能保证飞行员的安全。相反，他思考的是什么会让他们丧命，然后集中精力预测雪、冰或雾等气象条件，而忽略其他一切因素。
invert
invert /ɪnˈvɜːt/ 表示“使倒置；使颠倒”，英文解释为“to turn something upside down or change the order of two things”举个🌰：In some languages, the word order in questions is inverted (= the verb comes before the subject of the sentence). 在有些语言里，疑问句的词序是颠倒的。
meteorologist
meteorologist /ˌmiː.ti.əˈrɒl.ə.dʒɪst/ 表示“气象学家”，英文解释为“someone who studies meteorology”
ponder
ponder /ˈpɒn.dər/ 表示“沉思，默想，考虑”，英文解释为“to think carefully about something, especially for a noticeable length of time”举个🌰：She sat back for a minute to ponder her next move in the game. 她在椅背上靠了一会儿，思考下一步棋该怎么走。
Know your circle of competence 了解你的能力圈
Munger often said he and Buffett were quick to throw potential investments into a “too-hard” pile. If they couldn't understand it, they just moved on.
芒格经常说，他和巴菲特（Warren Buffett）会果断把潜在的投资项目扔进“太难”的归类里。如果他们无法理解，就会放弃。
competence
competence /ˈkɒm.pɪ.təns/ 表示“能力；才干；水平”，英文解释为“the ability to do something well”举个🌰：Her competence as a teacher is unquestionable. 她的执教能力无可置疑。
pile
pile /paɪl/ 1）表示“摞；垛；堆”，英文解释为“objects positioned one on top of another”如：a pile of books 一摞书；
2）表示“（建筑物的）柱，桩”，英文解释为“a strong column or post of wood, metal, or concrete that is pushed into the ground to help support a building”
Keep a list of 'asininities' and avoid them 列出一份“愚蠢行为”清单并予以规避
Munger wrote a long essay, “The Psychology of Human Misjudgment,” summarizing 25 types of cognitive errors.
芒格曾写过一篇名为“人类错误判断的心理学”长文，总结出了25种认知错误。
asininity
表示“愚钝；愚蠢”，英文解释为“the quality of being asinine; stupidity combined with stubbornness.”
cognitive
表示“认知的；感知的；认识的”，英文解释为“Cognitive means relating to the mental process involved in knowing, learning, and understanding things.”举个🌰：As children grow older, their cognitive processes become sharper. 随着孩子们长大，他们的认知过程也变得越来越敏锐了。
Think in multiple dimensions 多维度思考
Munger told how, as a lawyer, he more than doubled the appraised value of a client's property by realizing that it wasn't just the acreage, but also its changes in altitude, that made it desirable.
芒格曾讲述作为一名律师，他是如何通过认识到影响房产价值的不仅仅是占地面积，还有海拔高度的变化，从而使一个客户房产的评估价值提高了一倍多，令这处房产变得受追捧。
acreage
acreage /ˈeɪ.kər.ɪdʒ/ 表示“土地面积；以英亩计的土地”，英文解释为“the size of an area of land in acres (= a unit for measuring area, equal to 4,047 square metres or 4,840 square yards), or an area of land that can be measured in acres”举个🌰：It was a huge farm with substantial acreage. 这是一个面积很大的农场。
altitude
altitude表示“海拔；海拔高度；高程”，英文解释为“the height above sea level”举个例子：We are flying at an altitude of 6 000 metres. 我们的飞行高度是6 000米。
区分：
📍latitude：the distance of a place north or south of the equator (= the line around the world dividing north and south) , measured in degrees 纬度;
📍longitude：the distance of a place east or west of the Greenwich meridian , measured in degrees 经度。
'Over, under and kapow!' “过高、过低，然后击中！”
In artillery training, Munger noted, recruits learn to bracket the target by overshooting, undershooting and then hitting it. He estimated investment values the same way, deliberately oversizing, undersizing, then landing in the middle.
芒格指出，在炮兵训练中，新兵在学习打中目标时，是通过射击过高、过低，然后命中靶子。他用同样的方法来估算投资价值，故意给出过高和过低估值，然后选取中间值。
kapow
“Kapow”是一个拟声词（onomatopoeia），常用于描述爆炸、打击或其他突发的、有力的动作或声音。它经常出现在漫画和超级英雄故事中，用来形象地描绘动作场景中的冲击声、爆炸声或其他类似的响声。在使用上，它可以传达一种强烈的、突然的或戏剧性的效果。
artillery
artillery /ɑːˈtɪl.ər.i/ 表示“炮，大炮；炮兵（部队）”，英文解释为“very large guns that are moved on wheels or metal tracks, or the part of the army that uses these”
recruit
recruit /rɪˈkruːt/ 作名词，表示“新成员，新来的人；（尤指）新兵”，英文解释为“a new member of an organization, especially the army”举个🌰：Raw recruits (= completely new soldiers) were trained for six months and then sent to the war front. 刚入伍的新兵接受了6个月的训练后就被送往战争前线。
作动词，示“招聘，吸收；（尤指军队）征募新兵”，英文解释为“to persuade someone to work for a company or become a new member of an organization, especially the army”举个🌰：Even young boys are now being recruited into the army. 就连很年轻的男孩子都被征召入伍了。
bracket
bracket /ˈbræk.ɪt/ 1）表示“括号”，英文解释为“either of two symbols put around a word, phrase, or sentence in a piece of writing to show that what is between them should be considered as separate from the main part”
2）表示“等级；段；档次”，英文解释为“a group with fixed upper and lower limits”举个🌰：Most of our students are in the 18–30 age bracket. 我们大多数的学生都属于18至30岁这个年龄段。
作动词，1）表示“把…至于括号中”，英文解释为“to put brackets around words, phrases, numbers, etc.”举个🌰：I've bracketed the parts of the text that could be omitted. 我已把文章可省略的部分用括号括起来了。
2）表示“将…相提并论；把…归入同一类”，英文解释为“If you bracket two or more things or people, you consider them to be similar or connected to each other.”举个🌰：He's often bracketed with the romantic poets of this period although this does not reflect the range of his work. 人们常常把他与这个时期的浪漫诗人相提并论，尽管这并不能反映出他的作品的涉猎范围。
📍在这个上下文中，"bracket"是一个军事术语，特别是在炮兵训练中使用。它指的是一种瞄准和调整射击的技巧，通过先是射出超过目标的炮弹（overshooting），然后射出不及目标的炮弹（undershooting），最后调整以准确击中目标。这种方法帮助炮手确定正确的射程，从而在接下来的射击中能够更准确地命中目标。
deliberately
1）表示“故意地”，英文解释为“intentionally”举个🌰：I'm sure he says these things deliberately to annoy me. 我敢肯定他是故意说这些来气我的。
2）表示“不慌不忙地，从容地”，英文解释为“slowly and carefully”举个🌰：Calmly and deliberately, she cut up his suits one by one. 她平静从容地把他的西服一件一件剪成碎片。
Embrace your mistakes 拥抱你的错误
“I like people admitting they were complete stupid horses' asses,” Munger said in 2017. “I know I'll perform better if I rub my nose in my mistakes. This is a wonderful trick to learn.”
“我喜欢人们承认他们是彻头彻尾的傻瓜，”芒格在2017年称。“我知道，如果我不断提起自己过去的错误，我会表现得更好。这是一个值得学习的妙招。”
horse's ass
表示“蠢货，傻瓜”，英文解释为“a stupid and annoying person”举个🌰：You may think you're being funny, but everyone else thinks you're being a real horse's ass. 你可能自以为很风趣，可是所有人都认为你是个傻瓜。
📍这是一种非正式且直白的表达方式，用来指愚蠢或不理智的人。在英语中，将某人比作“马屁股”（horse's ass）是一种贬低的方式，暗示他们的行为或决定很愚蠢。
rub someone's nose in it
rub someone's nose in it 表示“揭（某人）的伤疤；不断提起（某人）以前的过失；指责某人，使某人不断回想起自己的错误或失败”，英文解释为“to say or do things that make someone remember that they failed or got something wrong”
📍rub本身表示“擦；摩擦；搓；揉搓”，英文解释为“to press or be pressed against something with a circular or up-and-down repeated movement”举个🌰：She yawned and rubbed her eyes sleepily. 她打着哈欠睡意朦胧地揉着眼睛。
📍这个表达源自一种训练小狗的过时做法，当小狗在不应该的地方排泄时，主人会将它的鼻子“摩擦”在排泄物上作为惩罚。
'Destroy your own best-loved ideas' “破坏自己最喜欢的想法”
Being good at that is “part of the reason I've been a little more successful than most people,” he told the Journal in 2019. “I'm pleased when I can destroy an idea that I've worked very hard on over a long period of time.”
善于这样做是“我比多数人更成功的部分原因”，他在2019年告诉《华尔街日报》。“当我能破坏一个我长期非常秉持的想法时，我很高兴。”
Become a learning machine 成为学习机器
“We all start out stupid and we all have a hard time staying sensible, and you have to keep working at it,” Munger told an audience at the University of Redlands in California in 2020. That requires reading constantly—and not just in your own area. “I never liked [specialization],” he said. “I like romping over a whole field.”
芒格2020年在加利福尼亚雷德兰兹大学（University of Redlands）对听众表示：“我们一开始都很笨，很难保持理智，你必须不断努力。”这就需要持续阅读，而且不仅仅限于自己的领域。“我从不喜欢[专业化]，”他说。“我喜欢全面涉猎。”
specialization
specialization /ˌspeʃ.əl.aɪˈzeɪ.ʃən/ 表示“专门化，专业化;专业范畴”，英文解释为“a particular area of knowledge or the process of becoming an expert in a particular area”举个🌰：Specialization (= limiting study or work to one particular area) usually doesn't occur until PhD level. 专门化通常到博士阶段才发生。
romp
romp /rɒmp/ 表示“疯闹，嬉耍喧闹，喧闹地玩耍”，英文解释为“to play in a rough, excited, and noisy way”举个🌰：The children romped happily around/about in the garden. 孩子们高兴地在花园中嬉笑打闹。
📍在这个上下文中，“romp”是一个比较非正式的表达，通常指的是自由地、兴致勃勃地或无忧无虑地在某个领域或活动中活动或玩耍。
📍当查理·芒格（Charlie Munger）说“I like romping over a whole field,”他的意思是他喜欢自由地探索和涉猎广泛的领域，而不是只专注于一个狭窄的专业领域。这反映了他对知识和学习的全面、多元化的兴趣。
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