Munger on grubstakePosted: August 3, 2018
“The first $100,000 is a bitch, but you gotta do it. I don’t care what you have to do—if it means walking everywhere and not eating anything that wasn’t purchased with a coupon, find a way to get your hands on $100,000. After that, you can ease off the gas a little bit.”
found that Munger quote in this long but interesting post about Jim O’Shaughnessy on 25iq by Tren Griffin.
There’s a trick of capitalism, which is if you have capital, it’s not that hard to multiply it into more capital. The hard part is getting capital in the first place. Charlie Munger acknowledges that yes, that is a challenge, there’s no easy solution.
If you prefer Oprah to Munger, 25iq has a roundup on her lessons as well!