Idag løftede jeg jern.

DB 15 inc
10x20
5x30
21x35 formentlig pr
17x35
15x35
14x35
15x32,5
15x32,5

db 45 inc
20x28
16x28
20x24
20x24

+ en masse andet

Bliver tungere og tungere for tiden. Tror endda min fedtprocent er over 10, hvilket er dejligt. Synes faktisk det klæder mig at have lidt sul, jeg ser ikke så fandens tynd ud om morgenen nemlig.

Bigshooter er ven.

Igår db rowede jeg

DB Rows
10x25
5x55 h&v
5x55 h&v
15x40 h&v
15x40 h&v
15x40 h&v
15x40 h&v
15x40 h&v
15x40 h&v
20x35 h&v
20x35 h&v
8x30 h&v 2 sek hold i toppen, kontrolleret excentrisk
8x30 h&v 2 sek hold i toppen, kontrolleret excentrisk
8x30 h&v 2 sek hold i toppen, kontrolleret excentrisk
8x30 h&v 2 sek hold i toppen, kontrolleret excentrisk

Her er lidt mere visdom fra Charlie Munger
"Whenever you think something or some person is ruining your life, it’s you. A victimization mentality is so debilitating"
&
"Mozart is a good example of a life ruined by nuttiness. His achievement wasn’t diminished – he may well have had the best innate musical talent ever – but from that start, he was pretty miserable. He overspent his income his entire life – that will make you miserable. He was consumed with envy and jealousy of other people who were treated better than he felt they deserved, and he was filled with self-pity. Nothing could be stupider. Even if your child is dying of cancer, it’s not OK to feel self pity. In general, it’s totally nonproductive to get the idea that the world is unfair. Marcus Aurelius had the notion that every tough stretch was an opportunity – to learn, to display manhood, you name it. To him, it was as natural as breathing to have tough stretches. Warren doesn’t spend any time on self-pity, envy, etc. "

Noget de færreste forstår ved lagerbeskatning kontra realisationsbeskatning af aktier over the long haul.
”If you’re going to buy something which compounds for 30 years at 15% per annum and you pay one 35% tax at the very end, the way that works out is that after taxes, you keep 13.3% per annum. In contrast, if you bought the same investment, but had to pay taxes every year of 35% out of the 15% that you earned, then your return would be 15% minus 35% of 15%—or only 9.75% per year compounded. So the difference there is over 3.5%. And what 3.5% does to the numbers over long holding periods like 30 years is truly eye-opening…”

udfordringer kommer i øjenhøjde
”Smart people aren’t exempt from professional disasters from overconfidence. Often, they just run aground in the more difficult voyages they choose, relying on their self-appraisals that they have superior talents and methods.”

Hey Moody.

Er det en Charlie Munger bog, du qouter fra? I så fald hvilken, - og kan den støves op for et rimeligt beløb?

Scout skrev:Hey Moody.

Er det en Charlie Munger bog, du qouter fra? I så fald hvilken, - og kan den støves op for et rimeligt beløb?

Han har ikke selv skrevet nogen bog som sådan, der er en biografi med mange af hans taler skrevet sammen med enkelte passager fra hans egen hånd i bogen Poor Charlie's Almanack. Bogen er halvdyr, men pengene doneres til velgørenhed, ellers kan den fiskes op på nettet. Alle citaterne er fra hans taler, skulle jeg mene

Weak i am squat i must

OL squat
5x60
3x100
3x120
3x140
3x140
3x145
3x140
3x140
10x110
6x90, T43X0
6x90, T43X0
6x90, T43X0
6x90, T43X0
6x90, T43X0
15x80
15x80

bulg. split squats
15x30 h&v
15x30 h&v
15x30 h&v

reverse lunges fra deficit
10x16 h&v
10x16 h&v
10x16 h&v

Hold da op!

Skulle lige have skrevet specialet færdig venner. Min vejleder er en fucking mouthbreather, at hun er professor i faget jeg skriver i er den største joke. Et slag på tasken er måske, at de har svært ved at finde gode jurister i bank&finans, og så har de bare nuppet en som har god viden om pensionskasser og rådgivningsansvar.

Var ude med Team K N Æ P igår, som måske er en af de sidste gange i mange år så mange af dem kunne samles. I de kommende uger bliver de spredt for alle vinde. Det var lidt vemodigt, hvilket overvældede mig lidt da to af os, som last man standing uden KNÆP fyrede den af på en bar hen af lukketid. Der blev mandekysset og givet kærlighedserklæringer, og derefter plukket bartendere hjem til knæp.

Træner også en del for tiden, kan ikke rigtigt finde ud af hvor store muskler jeg har. Er i hvert fald rimeligt tung.

"The thoughts of others
Were light and fleeting,
Of lovers' meeting
Or luck or fame.
Mine were of trouble,
And mine were steady;
So I was ready
When trouble came."

Meget at se til for tiden. Var ude og spise på kliché igår, niveauet er desværre faldet en smule ifht. Congo. Plus de har forsøgt at beholde natklubsstemningen, hvilket ikke fungerede helt. Det betød dog at mit selskab kunne drikke vores tjener under bordet i ro og mag. I aften skal jeg på PS bar og nyde babe ratioen derinde.

bb bænk
5x5x105

pull-ups
8x10xbw

high incline db
5x15x28

db rows
4x20x40 h&v

cable rows
4x15x60

barbell curls
5x10x45

K.N.Æ.P = Kapitalister negler Æstetiske Pigebørn?

SNakkede du ikke om at købe en e-reader på et tidspunkt? I så fald kan det varmt anbefales. Feelen er der ikke helt, men det er tæt på og enn helt anden oplevelse end tablets. Jeg har e Nook Glowlight jeg er ganske godt tilfreds med.

God volumen pas ellers, lækker Volumen

Tillykke med fuldendt speciale. Til trods for mangelfuld vejledning er jeg sikker på, at du har lavet et solidt produkt.

Nu venter voksenlivet. Men her er der også mandekærlighed.

Joaquin> Det burde det næsten stå for. Men nogle af dem er bare nogle drengerøve og ikke særligt store kanoner. I hvert fald ikke i kapitalistens tegn

Ja nu du siger det så fik aldrig købt en. Skal lige have undersøgt markededet. Er jo en del bøger som er væsentigt billigere i e-reader format (herunder gratis )

8800> Tak! Nu må vi se, umiddelbart er den meget konceptuel og teoretisk. Men analysen er stærk, det vil selv den mest idiot af en vejleder næppe være uenige i. Problemet bliver enten mængden af hardcore jura er i underkanten eller sproget er meget tungt.

Det håber jeg fandeme!

Igår, ben&chest

ol squat
10x60
5x100
5x110
5x115
5x120
5x125
5x130
5x120

bænk
5x5x102,5

high incline bb
8x80
8x80
7x80
8x75
8x75

bulg. split squat
15x30 h&v
15x30 h&v
15x30 h&v

db oh ext
10x40
5x45
5x45
5x45
5x45
10x35
8x35

+rophe pushdowns

Charlie munger er stor fortaler for modeller. Især mentale modeller til at behandle problemstilligner. Warren er på samme måde. En af deres mere anvendelige er at tænke invert. I stedet for at forsøge at performe godt så fokuser på at begræns dine fejl. I stedet for at lede efter gode firmaer at investere i, sorter dem fra der ikke er noget værd. I en tale forklarer Charlie, med inspiration fra den afdøde talkshow-vært Johnny Carson, hvordan man får et miserabelt liv (og dermed hvad man bør undgå):
Carson’s prescription for a life of misery?

"- ingestion of chemicals to alter mood or perception
- envy
- resentment
- be unreliable: do not faithfully do what you have promised yourself or others
- learn everything you possibly can from your own personal experience, minimizing what you can learn from the good and bad experience of others, living and dead
- go down and stay down when you get your first, second, and third severe reverse in the battle of life (i.e., if at first you do not succeed then do not try again)
- ignore evidence contrary to your opinion by remaining certain in your views"

Jeg har fundet et udsnit af talen, det resterende er at finde i hans bog:

"I can still recall Carson’s absolute conviction as he told how he had tried these things on occasion after occasion and had become miserable every time. It is easy to understand Carson’s first prescription for misery -ingesting chemicals. I add my voice. The four closest friends of my youth were highly intelligent, ethical, humorous types, favoured in person and background. Two are long dead, with alcohol a contributing factor, and a third is a living alcoholic -if you call that living. While susceptibility varies, addiction can happen to any of us, through a subtle process where the bonds of degradation are too light to be felt until they are too strong to be broken. And I have yet to meet anyone, in over six decades of life, whose life was worsened by overfear and overavoidance of such a deceptive pathway to destruction.

Envy, of course, joins chemicals in winning some sort of quantity price for causing misery. It was wreaking havoc long before it got a bad press in the laws of Moses. If you wish to retain the contribution of envy to misery, I recommend that you never read any of the biographies of that good Christian, Samuel Johnson, because his life demonstrates in an enticing way the possibility and advantage of transcending envy.

Resentment has always worked for me exactly as it worked for Carson. I cannot recommend it highly enough to you if you desire misery. Johnson spoke well when he said that life is hard enough to swallow without squeezing in the bitter rind of resentment.

For those of you who want misery, I also recommend refraining from practice of the Disraeli compromise, designed for people who find it impossible to quit resentment cold turkey. Disraeli, as he rose to become one of the greatest Prime Ministers, learned to give up vengeance as a motivation for action, but he did retain some outlet for resentment by putting the names of people who wronged him on pieces of paper in a drawer. Then, from time to time, he reviewed these names and took pleasure in noting the way the world had taken his enemies down without his assistance.

[Well, so much for Carson’s three prescriptions. Here are four more prescriptions from Munger:]

First, be unreliable. Do not faithfully do what you have engaged to do. If you will only master this one habit you will more than counterbalance the combined effect of all your virtues, howsoever great. If you like being distrusted and excluded from the best human contribution and company, this prescription is for you. Master this one habit and you can always play the role of the hare in the fable, except that instead of being outrun by one fine turtle you will be outrun by hordes and hordes of mediocre turtles and even by some mediocre turtles on crutches.

I must warn you that if you don’t follow my first prescription it may be hard to end up miserable, even if you start disadvantaged. I had a roommate in college who was and is severely dyslexic. But he is perhaps the most reliable man I have ever known. He has had a wonderful life so far, outstanding wife and children, chief executive of a multibillion dollar corporation.

If you want to avoid a conventional, main-culture, establishment result of this kind, you simply can t count on your other handicaps to hold you back if you persist in being reliable.

I cannot here pass by a reference to a life described as “wonderful so far,” without reinforcing the “so far” aspects of the human condition by repeating the remark of Croesus, once the richest king in the world. Later, in ignominious captivity, as he prepared to be burned alive, he said: “Well now do I remember the words of the historian Solon: “No man’s life should be accounted a happy one until it is over.”

My second prescription for misery is to learn everything you possibly can from your own personal experience, minimizing what you learn vicariously from the good and bad experience of others, living and dead. This prescription is a sure-shot producer of misery and second-rate achievement.

You can see the results of not learning from others’ mistakes by simply looking about you. How little originality there is in the common disasters of mankind -drunk driving deaths, reckless driving maimings, incurable venereal diseases, conversion of bright college students into brainwashed zombies as members of destructive cults, business failures through repetition of obvious mistakes made by predecessors, various forms of crowd folly, and so on. I recommend as a memory clue to finding the way to real trouble from heedless, unoriginal error the modern saying: “If at first you don’t succeed, well, so much for hang gliding.”

The other aspect of avoiding vicarious wisdom is the rule for not learning from the best work done before yours. The prescription is to become as non-educated as you reasonable can.

Perhaps you will better see the type of non-miserable result you can thus avoid if I render a short historical account. There once was a man who assiduously mastered the work of his best predecessors, despite a poor start and very tough time in analytic geometry. 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.”

The bones of that man lie buried now, in Westminster Abbey, under an unusual inscription:

“Here lie the remains of all that was mortal in Sir Isaac Newton.”

My third prescription for misery is to go down and stay down when you get your first, second, third severe reverse in the battle of life. Because there is so much adversity out there, even for the lucky and wise, this will guarantee that, in due course, you will be permanently mired in misery. Ignore at all cost the lesson contained in the accurate epitaph written for himself by Epicetus: “Here lies Epicetus, a slave, maimed in body, the ultimate in poverty, and favoured by Gods.”

My final prescription to you for a life of fuzzy thinking and infelicity is to ignore a story they told me when I was very young about a rustic who said: “I wish I knew where I was going to die, and then I’d never go there.” Most people smile (as you did) at the rustic’s ignorance and ignore his basic wisdom. If my experience is any guide, the rustic’s approach is to be avoided at all cost by someone bent on misery. To help fail you should discount as mere quirk, with no useful message, the method of the rustic, which is the same one used in Carson’s speech.

What Carson did was to approach the study of how to create X by turning the question backward, that is, by studying how to create non-X. The great algebraist, Jacobi, had exactly the same approach as Carson and was known for his constant repetition of one phrase: “Invert, always invert.” It is in the nature of things, as Jacobi knew, that many hard problems are best solved only when they are addressed backward. For instance, when almost everyone else was trying to revise the electromagnetic laws of Maxwell to be consistent with the motion laws of Newton, Einstein discovered special relativity as he made a 180 degree turn and revised Newton’s laws to fit Maxwell’s. It is my opinion, as a certified biography nut, that Charles Robert Darwin would have ranked near the middle of the Harvard School graduating class of 1986. Yet he is now famous in the history of science. This is precisely the type of example you should learn nothing from if bent on minimizing your results from your own endowment. Darwin’s result was due in large measure to his working method, which violated all my rules for misery and particularly emphasized a backward twist in that he always gave priority attention to evidence tending to disconfirm whatever cherished and hard-won theory he already had. In contrast, most people early achieve and later intensify a tendency to process new and dis-confirming information so that any original conclusion remains intact. They become people of whom Philip Wylie observed: ” You couldn’t squeeze a dime between what they already know and what they will never learn.”

The life of Darwin demonstrates how a turtle may outrun the hares, aided by extreme objectivity, which helps the objective person end up like the only player without blindfold in a game of pin-the-donkey. If you minimize objectivity, you ignore not only a lesson from Darwin but also one from Einstein. Einstein said that his successful theories came from: “Curiosity, concentration, perseverance and self-criticism. And by self-criticism he meant the testing and destruction of his own well-loved ideas.

Finally, minimizing objectivity will help you lessen the compromises and burdens of owning worldly goods, because objectivity does not work only for great physicists and biologists. It also adds power to the work of a plumbing contractor in Bemidji. Therefore, if you interpret being true to yourself as requiring that you retain every notion of your youth you will be safely underway, not only toward maximizing ignorance, but also toward whatever misery can be obtained through unpleasant experiences in business.

It is fitting now that a backward sort of speech end with a backward sort of toast, inspired by Elihu Root’s repeated accounts of how the dog went to Dover, “leg over leg.” To the class of 1986:

Gentlemen, may each of you rise high by spending each day of a long life aiming low."

Weak i am. Squat i must.

OL squat
10x100
10x115
10x115
10x115
10x110
10x105
10x100

reverse lunges fra deficit
15x14 h&v
15x14 h&v
15x14 h&v
15x14 h&v

glute bridges
10x100
10x100
10x100
10x100

Jeg smedede igår, men her er noget mere interessant. Ray Dalio er en af mine store nulevende forbilleder, han tænker mange rigtige tanker og walks the talk. Derudover mediterer han, det er noget mange af jer burde gøre. Her er et udsnit fra hans "how the economy works" om kredit- og økonomiske cykli, som smukt og i simpelt sprog forklarer noget som mange igennem en livstid ikke forstår:

"[...] if you understand the game of Monopoly®, you can pretty well understand credit and economic cycles. Early in the
game of Monopoly®, people have a lot of cash and few hotels, and it pays to convert cash into hotels. Those who
have more hotels make more money. Seeing this, people tend to convert as much cash as possible into property
in order to profit from making other players give them cash. So as the game progresses, more hotels are
acquired, which creates more need for cash (to pay the bills of landing on someone else’s property with lots of
hotels on it) at the same time as many folks have run down their cash to buy hotels. When they are caught
needing cash, they are forced to sell their hotels at discounted prices. So early in the game, “property is king”
and later in the game, “cash is king.” Those who are best at playing the game understand how to hold the right
mix of property and cash, as this right mix changes.

Now, let’s imagine how this Monopoly® game would work if we changed the role of the bank so that it could
make loans and take deposits. Players would then be able to borrow money to buy hotels and, rather than
holding their cash idly, they would deposit it at the bank to earn interest, which would provide the bank with
more money to lend. Let’s also imagine that players in this game could buy and sell properties from each other
giving each other credit (i.e., promises to give money and at a later date). If Monopoly® were played this way, it
would provide an almost perfect model for the way our economy operates. There would be more spending on
hotels (that would be financed with promises to deliver money at a later date). The amount owed would quickly
grow to multiples of the amount of money in existence, hotel prices would be higher, and the cash shortage for
the debtors who hold hotels would become greater down the road. So, the cycles would become more
pronounced. The bank and those who saved by depositing their money in it would also get into trouble when the
inability to come up with needed cash caused withdrawals from the bank at the same time as debtors couldn’t
come up with cash to pay the bank. Basically, economic and credit cycles work this way."

Jeg kan godt lide bratspil, Cluedo og Risk er også gode. Kortspil er jeg endnu større fan af. Har længe gerne villet lære Mahjong, men det synes at være for omgæret af gambling.

Jeg kan også anbefale Axis and Allies og Diplomacy i brætspilskategorien. Begge falder i risk/overtag-verden-kategorien, men på meget forskellige måder. A&A har en større kompleksitet i units og ressource indsamling end Risk, men er stadig terning baseret. Diplomacy derimod er brutalt i sin simplicitet, der findes kun 2 units, men alle træk skrives ned og sker instant så ingen smalle steder i forhold til held.

Begge tager en aften og har klart bedst af at være timet. Fantastisk måde at tilbringe tid med en et par venner og en god flaske whiskey.

Joaquin> Må jeg lige få prøvet ved lejlighed, de lyder begge som gode forslag.

Mine glutes er forøvrigt vokset:

Rigtig flotte glutes.

Nåh, så det er SÅDAN du overtaler kvindfolk til rimming.

Smukt.

tak venner, det er netop sådan jeg overtaler piger til rimming. Jeg ser dog en pige for tiden og hun er umiddelbart den eneste jeg vil rimmes af i lang tid fremover

I går blastede jeg lidt glutes

rldl
5x60
6x80
12x100
12x100
12x100
12x100
12x100
12x100
12x100
12x100

hip thrust
15x70
9x90
6x100
6x100
15x70

db walking lunges
5 runder af 25 meter med 8 kg

+ lidt andet lal

Jeg læser extraordinary delusions and madness of the crowd for tiden. Den er lidt tung, men mange sjove historier om spekulative bobler og andet lækkert i den dur.

High rep chesticles

db 15 inc
10x16
5x28
16x38
13x38
13x38
12x38
10x38
10x38

db 45 inc
15x32
15x30
13x28
12x28
10x28

db 60 inc
14x24
13x24
12x24

high incline db flies
15x18
15x18
15x16

"He who lives by the crystal ball will eat shattered glass."

Jeg læste det som om dine glutes var blevet vokset, as in... waxed. Men ved jo aldrig nu om dage. Men flotte er de.

Tænk, at du kun tillader een kvinde adgang til dem, for tiden. Hun må sgu' være noget særligt.

Sunde glutes!!

A Menace To Chicken skrev:Jeg læste det som om dine glutes var blevet vokset, as in... waxed. Men ved jo aldrig nu om dage. Men flotte er de.

Tænk, at du kun tillader een kvinde adgang til dem, for tiden. Hun må sgu' være noget særligt.

Jeg er faktisk mere monogamisk end man lige umiddelbart skulle tro. Selvom hank har ret i, at en akavet morgen er bedre end en nat i ensomhed, så er der mere i livet end det. Også selvom 9/10 af mine bedste røverhistorier involverer knæp.

Kocemba> thanks

ben

ol squat
5x60
5x80
5x125
5x125
5x125
5x125
5x125
5x125
5x125
5x125

GM's 5-0-3
8x50
8x50
8x50
8x50

lying leg curls
15x45
15x45
15x45
15x45

Tøse squats. Dine glutes ser dog meget maskuline ud.

Der går rygter i mit center om dig.














Om dine glutes.






















Rygterne taler sandt.














De er i sandhed flotte!

Du er en flot mand, Moody.

- Hvordan går det med at optimere din livskvalitet og nå dine mål, Moody? Fortæl om din tilværelse.

Løven er blevet tæmmet. Vanvittigt. Har du slettet Tinder?

Glutes. Wow. Just wow.

Tak venner, i skal dog huske at den almene relativitetsteori også er applicerbar her. Alt ser større ud til små tynde ben og smal talje. Ikke desto mindre klæder det dit center TC, at der snakkes om glutes.

Kaptain> Det går faktisk rigtigt fint. Jeg får mediteret 2x10 minutter for tiden og læst en del bøger, til trods for at jeg også arbejder en del. Jeg kan godt lide digteren AE Housman, hvad jeg nyder at læse lidt fra i ny og næ. Kender du ham?

her er et par

"How shouldst thou keep the prize?
Thou wast not born for aye.
Content thee if thine eyes
Behold it in thy day.

"O youth that wilt attain,
On, for thine hour is short.
It may be thou shalt gain
the hell-defended fort."

" Give me a land of boughs in leaf,
A land of trees that stand;
Where trees are fallen, there is grief;
I love no leafless land."

" The thoughts of others
Were light and fleeting,
Of lovers' meeting
Or luck or fame.
Mine were of trouble,
And mine were steady,
So I was ready
When trouble came."

Derudover læste jeg en bog færdig om spekulative bobler forleden, Extraordinary Popular Delusions and the Madness of Crowds, ret tankevænkende, men pointerne bliver gentaget og trivielle. Har du læst om John Gotmanns studier? Kom i tanke om dem da jeg rantede i jmt's log. Han laver kvantitative analyser på kærlighed, det kan jeg godt lide tanken om. For mig er kærlighed og karaktertræk uendeligt sammenkoblede. Jeg kan virkelig ikke falde for en pige uden integritet, uanset hvor meget andet hun så har af godt at byde på. Warren Buffett er engang citeret for at "that in looking for people to hire, you look for three qualities: integrity, intelligence, and energy. And if you don’t have the first, the other two will kill you. You think about it; it’s true. If you hire somebody without [integrity], you really want them to be dumb and lazy.”.

8800> Aldrig rigtigt haft tinder faktisk. Jeg er alt for old school til det. Mærkeligt nok er jeg aldrig blevet sat op med en pige heller. Min storesøster mener, at jeg er for dårlige nyheder til at piger tør sætte mig op med deres veninder. Det gør mig lidt ked af det. Men så husker jeg, at jeg har massive glutes og har brækket adskillige bækkenben, så er tilværelsen omvendt ok.

Jeg har fået syet mine side darts ind på en del skjorter. Af en eller anden årsag bliver min mave bare smallere og smallere, eller også bruges der mere og mere stof på ryggens bredde. I any case, så er det noget jer kropsbyggere bør få gjort; syet darts på jeres skjorterygge, for intet kendt skjortemærke er syet til muskler.

TheCzech skrev:Der går rygter i mit center om dig.














Om dine glutes.






















Rygterne taler sandt.














De er i sandhed flotte!

Under den Nederlandske hævnkrig i starten af det 17.århundrede var det Nederlandske motto et citat fra lederen af revolten William the Silent "One need not hope in order to undertake, nor succeed in order to persevere". Det er en sund livsindstilling.

Igår smedede jeg glutes og guns. Going-out protocol.

rack pulls
10x150
10x150
10x150
10x150
10x150

Glute bridges
10x60
15x90
12x90
12x90
9x90
8x90

Så var mine glutes brændt af

cg bænk
6x6x100

preacher curls
5x10x40

bar pushdowns
5x15x50

bar cable curls
5x15x50

Jeg bookede engang mødelokale på arbejde og sad og så dokumentarer hele dagen. Det handler om at gøre sig uundværlig og niche, så dine chefer ikke ved hvor længe du skal bruge på det kun du kan lave. I nogen sammenhænge er det nok bedre være middelmådig til noget alle er dårlige til end fantastisk til noget mange er meget gode til. Det kan være betragtningen skal finpudses lidt, det er svært at gennemskue tendensen på tværs af forskellige situationer.

Jeg så hhv. 1 afsnit af The men who built america, 3 afsnit af apocalypse om første verdenskrig. Det er mig intet under at langt hovedparten af intellektuelle er pacifister og atheister.

El Kapitan spurgte engang til mit forhold til EU. Hoovers forklaring om 30'ernes geopolitiske scene må siges at opsummere milevidt bedre end jeg selv kunne:
"The nations of Europe have not found peace. Hates and fears dominate their relations. War injuries have permitted no abatement. The multitude of small democracies created by The Treaty of Versailles have developed excessive nationalism. They have created a maze of trade barriers between each other. Underneath all is the social turmoil of communism and fascism gnawing at the vitals of these young democracies."

Det er nok ingen tilsnigelse at krakket i 29 og lempelsen af revisionsreglerne i 20'erne naturligvis sammen med rigidtiten af versailles-traktaten var hovedårsagen til anden verdenskrig.

Charlie Munger har for øvrigt også god indsigt i et par relaterede ting. Hans citat om at lære fra andre er et par sider tilbage og her om kommunisme:
"Two things work beautifully to ruin an aggregation of people. The best 5 percent leave; that's a sure source of huge failure. Then you have the remainder under a total crazy bunch of people -- like say the nutcase that runs North Korea -- and of course that will ruin anybody. Do you see all those pictures of North Korea at night? It's dark! They have starvation in the Year of Our Lord 2010! They have people starving in the dark! That's what communism will do for you if you work at it hard enough."