2026-01-11 10:00:16

Charlie Munger has an interesting view on "success"—he says he is "satisfied" but never "proud." What is the logic behind this?

In his opinion, success largely depends on where you were born, what era you lived in, and who you met. In other words, luck plays a significant role. Because of this, he feels that being proud of his achievements is somewhat irrational—those external factors beyond your control contribute a large part to your success.

But "satisfaction" is different. Satisfaction is an acknowledgment of making the right decisions within your controllable scope. This rational humility may be one of the reasons he can achieve long-term stable profits.

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Web3ExplorerLin

· 2h ago

hypothesis: the luck-versus-agency dichotomy here actually mirrors oracle problem in blockchain... like, munger's basically saying you can't bootstrap confidence from data you didn't control. only reward the decisions within your validation set, so to speak. pretty elegant framework ngl

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GoldDiggerDuck

· 2h ago

The distinction between satisfaction and pride is spot on. Finally, someone has clearly explained my vague feelings. Luck is very real... birthplace and era are chosen by fate, no matter how hard you try, you can't escape this framework. The key point is that satisfaction is within your control, while pride easily makes people float.

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BlockBargainHunter

· 01-11 10:25

Satisfaction vs. pride, this distinction is brilliant. To put it simply, things that you can grasp are worth being confident about, while the rest are just bragging... Actually, this way of thinking is also very useful in the crypto circle. Too many people think they are the chosen ones after making a profit, only to get liquidated in the next round. Those who truly survive long-term understand this... Luck indeed plays a major role, but the winners are those who can make stable decisions within a controllable range... Be satisfied but not proud. It sounds simple but is hard to do. Most people simply can't manage it... This is the core difference between the big players and the rookies: mindset issues...

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CexIsBad

· 01-11 10:22

Satisfaction vs pride, this difference is actually the dividing line between mature investors and newbies... Munger really has nailed the weight of luck.

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CounterIndicator

· 01-11 10:21

The distinction between satisfaction and pride is brilliant. Basically, it’s about only being responsible for what you can control. I just like this rational restraint, unlike some people who constantly boast about how awesome they are, only to reveal their true colors when a black swan event occurs.

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RektButSmiling

· 01-11 10:21

The distinction between satisfaction and pride is brilliant. To put it simply, it's about acknowledging the role of luck. How many people succeed solely based on skill? Most of the time, it's about being in the right timing. This guy has really figured it out.

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SchrodingerWallet

· 01-11 10:20

The distinction between satisfaction and pride is brilliant. Basically, it means taking responsibility only for what you can control, and everything else is just luck bonus... People who truly make money are always this clear-headed.

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InscriptionGriller

· 01-11 10:14

Haha, this old man's logic is brilliant. The distinction between satisfaction and pride hits right at the sore spot of those self-indulgent folks in the crypto circle.

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