Spent my first year actually reading Buffett and Munger — and the stuff that stuck had nothing to do with stocks
u/dmytro_omelian ·
Reddit — r/ValueInvesting
· June 08, 2026 at 19:01
· ⬆ 459 pts
· 💬 50 comments
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Summary
The post reflects on life and investing lessons from Buffett and Munger, emphasizing the "punch card" philosophy of limited meaningful decisions, trust before formal partnerships, and the idea that deserving what you want is the safest path.
The author's thesis is that these principles are more about life than stocks, and they encourage thoughtful, high-conviction choices rather than frequent trading.
Quality assessment: This is philosophical reflection / noise from an investment analysis perspective — no data, no specific securities mentioned.
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I came in expecting to learn about investing and mostly walked away with life advice. A bit embarrassing for this sub, I know.
The one I keep thinking about is Buffett's punch card — the idea that you get maybe 20 investments in a whole lifetime, so you'd think hard about each one. Read it as life advice instead and it kind of stings: 20 real bets total, like who you partner with, what you work on, where you live. I stop and think a lot more now before I call something a "bet."
The other thing that surprised me is how slow they were about the partnership. Warren and Charlie ran separate things on opposite coasts for years, just calling each other all the time, before any of it was official. Trust first, paperwork way later. Feels like the opposite of how people network now.
And the line I can't shake, which is really an investing idea dressed up as a life one: "the safest way to get what you want is to try to deserve what you want."
I wrote the whole thing up here if anyone's interested: [https://domelian.substack.com/p/what-i-learned-from-warren-buffett](https://domelian.substack.com/p/what-i-learned-from-warren-buffett)