You fix what can be fixed, and what can't be fixed you endure.
Meaning
Munger said this at the Daily Journal meeting while describing how he handles setbacks in business and life. It separates problems you can act on from those you cannot, so you spend energy only on the first kind. When a project hits trouble, list what you control, fix that, and stop fretting over the rest.
Source: Daily Journal Annual Meeting (2021)
About the author
(1924–2023) was an American investor, businessman, and vice chairman of Berkshire Hathaway, where he worked closely with Warren Buffett. Known for his sharp intellect and multidisciplinary thinking, Munger emphasized rational decision-making and long-term investing. He advocated for understanding multiple fields of knowledge to make better judgments, a concept he called a ‘latticework of mental models.’ His insights on psychology, economics, and business have influenced investors worldwide. Munger’s straightforward communication style and wisdom made him a respected figure in finance. His legacy continues to shape modern investment philosophy and critical thinking.
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