james22 Posted January 18 Share Posted January 18 Love Nomos. 7 minutes ago, Castanza said: Can't justify a Rolex Every Rolex sports watch is worth more than its MSRP. It's just near impossible to buy one at MSRP without having an in. Link to comment Share on other sites More sharing options...
rkbabang Posted January 18 Share Posted January 18 I have to admit I've never gotten the expensive watch thing. I've always worn a $50-$75 watch and they have always told good time, lasted for years, and looked fine. Now I have an Apple Watch and it tells time and does some other stuff too which is why I'm willing to spend more than I ever have for a watch before. But even though I consider them expensive, I can buy a New Apple watch every 5 years for the rest of my life and not spend what people spend on these other watches that do nothing but tell time. People have tried to explain this to me before, but I don't think I'll ever get it. Link to comment Share on other sites More sharing options...
Ross812 Posted January 18 Share Posted January 18 A nice watch is a status symbol. Mercedes versus a Honda. Link to comment Share on other sites More sharing options...
Gmthebeau Posted January 18 Share Posted January 18 (edited) Charlie always sounded like he was miserable really when he was interviewed. He never sounded happy like Buffett. Charlie probably could have used a big house or something to make him more happy. Edited January 18 by Gmthebeau Link to comment Share on other sites More sharing options...
dealraker Posted January 18 Share Posted January 18 (edited) 2 hours ago, Gmthebeau said: Charlie always sounded like he was miserable really when he was interviewed. He never sounded happy like Buffett. Charlie probably could have used a big house or something to make him more happy. Very interesting comment. So you think a guy with the IQ and brilliance of Munger is supposed to sit around being happy? I live with two somewhat autistic people (my wife and one of many nephews) who are very fulfilled but "happy" isn't one of their dominating moods...maybe somewhat affected by one of them having a 160 IQ. Ever heard about Charlie's lakehouses at Star Island? There are thee of them and I do believe Mr. Munger physically built a lot of it all. Edited January 18 by dealraker Spellng and omitted words! Link to comment Share on other sites More sharing options...
Gmthebeau Posted January 18 Share Posted January 18 (edited) 8 minutes ago, dealraker said: Very interesting comment. So you think a buy with the IQ and brilliance of Munger is supposed to sit around being happy? I live with two somewhat people (my wife and one of many nephews) who are very fulfilled but "happy" isn't one of their dominating moods...maybe somewhat affect by one of them having a 160 IQ. Ever heard about Charlie's lakehouses at Star Island? There are thee of them and I do believe Mr. Munger physically built a lot of it all. I dont know if a house was the answer and no I have no idea what lakehouses he had or care. I was simply commenting on the fact that he did not seem happy at all. He was very smart for sure I didn't say he wasn't. Yes, I do think his goal should be to be happy. If you walk around miserable all the time what is the point of life. I am pretty sure Buffett strives to be happy. Maybe Munger was, but he sure never came across that way. Edited January 18 by Gmthebeau Link to comment Share on other sites More sharing options...
gfp Posted January 18 Share Posted January 18 (edited) I never met Charlie personally, but my impression was that he had a huge number of extremely high quality, stimulating friends, an absurdly active social life for a widower of his age (or really anybody of any age) and was in love with the independence his wealth gave him. He pursued many personal passions from the large catamaran to fishing to architecture. He loved projects like his multifamily apartment business with Avi and planting all those trees and pouring money into those apartment buildings to make them as nice as they could be as long term assets. (I kind of hope he gave that business to Avi in his will - we may never know). Charlie's family has said many times that it's not the "real" Charlie you see sitting up there next to Warren in the meetings, just the image he had cultivated for himself as the straight man sidekick. Maybe you think he was miserable because of his appearance or maybe you think he was miserable because interviewers tended to ask him about topics they knew he was likely to give them a classic Charlie curmudgeon zinger soundbite. Either way, I think you are wrong. edit: I should add, he was literally constantly laughing Edited January 18 by gfp Link to comment Share on other sites More sharing options...
dpetrescu Posted January 18 Share Posted January 18 (edited) Money is a scam if it’s not towards a purpose - to bring value. For me personally as an architect - I will always put the vast majority of my wealth into cost of building a custom home. Without much regard to market value of the house, without caring much if construction cost results in higher resale value. I do agree that big houses are such a waste. I’d rather have a smaller quality custom house than a wasteful mansion. PS….as much as I look up to Charlie for his general wisdom in all things and investing. He was not a good architect - his proposed design for the California residence structure is a massive monstrosity. Edited January 18 by dpetrescu Link to comment Share on other sites More sharing options...
Eldad Posted January 18 Share Posted January 18 12 minutes ago, gfp said: I never met Charlie personally, but my impression was that he had a huge number of extremely high quality, stimulating friends, an absurdly active social life for a widower of his age (or really anybody of any age) and was in love with the independence his wealth gave him. He pursued many personal passions from the large catamaran to fishing to architecture. He loved projects like his multifamily apartment business with Avi and planting all those trees and pouring money into those apartment buildings to make them as nice as they could be as long term assets. (I kind of hope he gave that business to Avi in his will - we may never know). Charlie's family has said many times that it's not the "real" Charlie you see sitting up there next to Warren in the meetings, just the image he had cultivated for himself as the straight man sidekick. Maybe you think he was miserable because of his appearance or maybe you think he was miserable because interviewers tended to ask him about topics they knew he was likely to give them a classic Charlie curmudgeon zinger soundbite. Either way, I think you are wrong. edit: I should add, he was literally constantly laughing Agree. You don’t tell such a compelling story if you don’t love telling the story. Grandfather in the Blackhawk wars that was exactly like him and on and on. The guy is one of the best story tellers of all time. Always laughing and always saying he has had the best life. To me Charlie is more honest than Warren so sometimes says some very negative things that Warren would not say. Warren is sometimes trying to play the grandpaw, Ben Franklin, America personified, legendary figure. Charlie is just Charlie. You would have to say Charlie has the more optimistic investment style. Charlie, like all people, was very complex. But I think he was a very happy man. Link to comment Share on other sites More sharing options...
gfp Posted January 18 Share Posted January 18 A happy guy in his happy place Link to comment Share on other sites More sharing options...
james22 Posted January 18 Share Posted January 18 1 hour ago, rkbabang said: I have to admit I've never gotten the expensive watch thing. 1. They're interesting, being at the intersection of history, engineering, art, and fashion. 2. Watches are Real in a way my (symbolic analyst) work and much of today's digital/disposal world isn't. 3. Like any collection, an interesting problem (curation) to solve. 1 hour ago, Ross812 said: A nice watch is a status symbol. Mercedes versus a Honda. People who buy them as such are soon disappointed. NO ONE notices your watch. Link to comment Share on other sites More sharing options...
linus_md Posted January 18 Share Posted January 18 2 hours ago, gfp said: He loved projects like his multifamily apartment business with Avi and planting all those trees and pouring money into those apartment buildings to make them as nice as they could be as long term assets. https://maps.app.goo.gl/FbA8xynQW3Zojpfm6?g_st=ic is this the company? Link to comment Share on other sites More sharing options...
gfp Posted January 18 Share Posted January 18 11 minutes ago, linus_md said: https://maps.app.goo.gl/FbA8xynQW3Zojpfm6?g_st=ic is this the company? Ha! Well maybe Avi's company is not great at customer service but Charlie sure was enjoying whatever they were telling him about the operation. Link to comment Share on other sites More sharing options...
cubsfan Posted January 18 Share Posted January 18 3 hours ago, Gmthebeau said: Charlie always sounded like he was miserable really when he was interviewed. He never sounded happy like Buffett. Charlie probably could have used a big house or something to make him more happy. I think you have this all wrong really. I know someone that knows the Munger's real well, met with Charlie several time, the last year or so. Other than the old age aches & pains - Charlie was really happy. He was always surrounded by family & helpers that loved him. He had daily meetings with very interesting people all day long. He certainly has a beautiful house in Pasadena and also in Santa Barbara & as GFP said, Star Island, MN. Charlie loved the mental stimulation of interesting people and also was constantly meeting with lots of young people. This was not an unhappy or unfulfilled guy. Link to comment Share on other sites More sharing options...
Parsad Posted January 19 Share Posted January 19 7 hours ago, Ross812 said: A nice watch is a status symbol. Mercedes versus a Honda. Not so much of a status symbol for me...just the craftsmanship is beautiful. I've always loved watches from when I got my first one (a Mickey Mouse watch)...to my 21st birthday (my parents bought me a Gucci)...to my first trip to Omaha (a beautiful Seiko with Berkshire Hathaway logo - an absolute collectible compared to the cheap watches with the logo they've put out since)...to a Longines Legend Diver sport watch I bought on the cruise around the UK in October. I tend to buy them on special trips or occasions, so maybe I will still buy that Rolex...my 55th birthday is coming up this year, so maybe I will splurge! What the heck else am I going to do with all this money...I buy my clothes at Walmart, Winners or H&M! Cheers! Link to comment Share on other sites More sharing options...
Parsad Posted January 19 Share Posted January 19 7 hours ago, dealraker said: Very interesting comment. So you think a guy with the IQ and brilliance of Munger is supposed to sit around being happy? I live with two somewhat autistic people (my wife and one of many nephews) who are very fulfilled but "happy" isn't one of their dominating moods...maybe somewhat affected by one of them having a 160 IQ. Ever heard about Charlie's lakehouses at Star Island? There are thee of them and I do believe Mr. Munger physically built a lot of it all. When I was in Hawaii, I was in the hot tub of my hotel and ran into a couple who owned a cottage there and were neighbors with the Mungers. Cheers! Link to comment Share on other sites More sharing options...
Parsad Posted January 19 Share Posted January 19 7 hours ago, Gmthebeau said: I dont know if a house was the answer and no I have no idea what lakehouses he had or care. I was simply commenting on the fact that he did not seem happy at all. He was very smart for sure I didn't say he wasn't. Yes, I do think his goal should be to be happy. If you walk around miserable all the time what is the point of life. I am pretty sure Buffett strives to be happy. Maybe Munger was, but he sure never came across that way. I think that's just Munger's personality. He wasn't miserable...just it seemed that way. The poor man could barely see through one eye and hear from one ear. Most people I've heard from that knew him said he was a very happy man considering the tragedies he went through. But he didn't suffer fools lightly, thus the belief he was miserable and disgusted all of the time...which wasn't the case. Cheers! Link to comment Share on other sites More sharing options...
ICUMD Posted January 19 Share Posted January 19 On the topic of watches: My father bought a Rolex in 1994. A GMT Master. I asked him why he spent so much money on a watch, since he had a fairly modest paying government job - 'he told me: well son, it's because I value time.' I followed in his footsteps and bought a lightly used Rolex Seadweller in 2014. New ones being exceptionally difficult to find. Off course it stopped working and now requires servicing at a cost of $800-900. And I have to mail it to Toronto. Further, I was constantly worried about breaking it out losing it at work. It would also gain a few minutes every week or two, needing adjustment or winding when not in my wrist. I have put the Rolex away in storage and now wear a Timex Ironman given to me by my brother. No worries. No adjustments. And the Indiglow is far better than the Lume on Rolex. Two time zones and virtually indestructible & replaceable. As I get older, status for me is not giving a care what anyone else thinks. Link to comment Share on other sites More sharing options...
Parsad Posted January 19 Share Posted January 19 21 minutes ago, ICUMD said: On the topic of watches: My father bought a Rolex in 1994. A GMT Master. I asked him why he spent so much money on a watch, since he had a fairly modest paying government job - 'he told me: well son, it's because I value time.' I followed in his footsteps and bought a lightly used Rolex Seadweller in 2014. New ones being exceptionally difficult to find. Off course it stopped working and now requires servicing at a cost of $800-900. And I have to mail it to Toronto. Further, I was constantly worried about breaking it out losing it at work. It would also gain a few minutes every week or two, needing adjustment or winding when not in my wrist. I have put the Rolex away in storage and now wear a Timex Ironman given to me by my brother. No worries. No adjustments. And the Indiglow is far better than the Lume on Rolex. Two time zones and virtually indestructible & replaceable. As I get older, status for me is not giving a care what anyone else thinks. You sure it was an authentic Rolex? Generally, they will fix any issues related to losing time...even older watches. Also, are you around MRI's a lot or where there were magnetic fields. Rolex guarantees that their watches will keep time to within 2 seconds per day...they recommend you service the watch every 10 years. Cheers! Link to comment Share on other sites More sharing options...
james22 Posted January 19 Share Posted January 19 59 minutes ago, ICUMD said: I have put the Rolex away in storage Why not service and sell it? Even if in only Good condition and without Box and Papers, should still get a minimum of $12-13K. Link to comment Share on other sites More sharing options...
dealraker Posted January 19 Share Posted January 19 8 hours ago, Parsad said: I think that's just Munger's personality. He wasn't miserable...just it seemed that way. The poor man could barely see through one eye and hear from one ear. Most people I've heard from that knew him said he was a very happy man considering the tragedies he went through. But he didn't suffer fools lightly, thus the belief he was miserable and disgusted all of the time...which wasn't the case. Cheers! In 1999 one of my cousins in the builders supply/millwork business went with me to the Berkshire annual meeting. Jerry just delighted in a very upbeat way in reading and watching Charlie Munger. It was so special that after the meeting Munger was standing behind a table at the jewelry area (so too was Buffett) and I watched Jerry go up to meet him. The two talked for several minutes. So if you think Munger is all down and unhappy maybe it is a lack of connection to what makes some people thrive. I'll sit on the porch of an old farmhouse on Sunday afternoon soon and I'm going to remember to ask Jerry what he so much enjoyed during that discussion with Munger--- because I've not seen Jerry so giddy ever as he was after that interaction with CM! Link to comment Share on other sites More sharing options...
Paarslaars Posted January 19 Share Posted January 19 (edited) Being happy and appearing happy are two very different things. I always joke that my wife has RBFS (resting bitch face syndrome) because she looks mad whenever she's just sitting in the couch without any distinct expression. Edited January 19 by Paarslaars Link to comment Share on other sites More sharing options...
ICUMD Posted January 19 Share Posted January 19 @Parsad @james22 Its original as it was purchased from a reputable dealer with box and papers. Seems to hold value better than time so I'll keep it for now! Link to comment Share on other sites More sharing options...
Parsad Posted January 19 Share Posted January 19 3 hours ago, Paarslaars said: Being happy and appearing happy are two very different things. I always joke that my wife has RBFS (resting bitch face syndrome) because she looks mad whenever she's just sitting in the couch without any distinct expression. You mean ex-wife, huh!! Cheers! Link to comment Share on other sites More sharing options...
Paarslaars Posted January 20 Share Posted January 20 14 hours ago, Parsad said: You mean ex-wife, huh!! Cheers! I'm sure that'll happen one day if I keep this up. Link to comment Share on other sites More sharing options...
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