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12 SMT007 MAGAZINE I JULY 2024 I believe in the discipline of mastering the best that other people have ever figured out. Buffett might do with the cash hoard, from acquiring a new business to buying stocks to stepping up share repurchases. When asked about it, he said that "he and his deputies don't know how to use the cash effectively, and therefore we don't use it; we only swing at pitches we like." eir knowledge and wisdom certainly do not stop at investing. I recall one of Charlie Munger's teachings: "I believe in the discipline of mastering the best that other people have ever figured out. I do not believe in just sitting down and trying to dream it all up yourself. Nobody is that smart." Indeed, the "smart" way to efficiently and effectively manage life and work is the ability to learn from what has been figured out. His words have been embedded in my mind; I constantly remind myself not to reinvent the wheel. Over the years, we have all been nourished by many of his wise words and pieces of advice. is year, the famed Berkshire Hathaway annual meeting on May 4, 2024, was not expected to be the same. Warren Buffett's longtime friend and partner, Charlie Munger passed away on Nov. 28, 2023, at the age of 99.9, a few weeks short of his 100th birthday. Without Charlie Munger, it just didn't feel the same. He held a special place in the hearts of Berkshire fans. Attendees loved that he was not afraid to speak his mind and oen made the audience laugh. His biting humor and acerbic one-liners are both inspiring and entertaining. is year's event started with a half-hour movie highlighting Charlie Munger's life, followed by a standing ovation. To Charlie, the audience's respect and admiration are celestial. e short movie touched the minds and hearts of many; tears welled up in my eyes. In Buffet's sought-aer Annual Letter, he renders a tribute to Charlie: "In reality, Charlie was the 'architect' of the present Berkshire, and I acted as the 'general contractor' to carry out the day-by-day construction of his vision. Charlie never sought to take credit for his role as creator but instead let me take the bows and receive the accolades. In a way his relationship with me was part older brother, part loving father. Even when he knew he was right, he gave me the reins, and when I b lundered he never—never—reminded me of my mistake. In the physical world, great buildings are linked to their architect, while those who had poured the concrete or installed the w indow s are s o on forgotten. Berkshire has become a great company. Though I have long overseen the constr uction crew; Charlie should forever be credited with being the architect." How can we get ahead in this digital world inundated with a gargantuan amount of information augmented by the evolving and increasingly powerful tools of artificial intelligence that are available to all? How can we stay ahead of the curve? Knowledge and wisdom are the fuel to propel us ahead; learning from the wise is the speedier path to acquire the fuel. e world has lost a man of extraordinary wit and wisdom. However, Charlie Munger's teachings will be passed on to future generations who can benefit from his life. I have been inspired by Charlie Munger over the years. In appreciation of his inspiration, teaching, and influence and in celebration of his life of wit and wisdom, I have selected the following brilliant, memorable quotes about