January 27, 2024
1 books · 8 highlights · 2 notes
Poor Charlie's Almanack
Charles T. Munger
“Third, with so much success coming, we must avoid bad effects from envy”
12:53 AM
“The best way to avoid envy, as recognized by Aristotle,[54](#Note54) is to plainly deserve the success we get. We will be fanatic about product quality, quality of product presentation, and reasonableness of prices, considering the harmless pleasure we will provide.”
12:53 AM
如何避免别人的嫉妒：让我们配得上成功
✎ NOTE
“Fourth, after our trademarked flavor dominates our new market, we must avoid making any huge and sudden change in our flavor.”
12:54 AM
“deprival-superreaction syndrome”
12:54 AM
Deprival-superreaction syndrome is a psychological phenomenon that makes individuals react irrationally to the loss or potential loss of something they value. The author uses this term to explain why sudden and significant changes to a product's flavor could trigger this syndrome in consumers, making it difficult to negotiate takeaways and causing irrational behavior, such as in gambling. The author suggests that creating a strong trademark and ensuring availability of the product worldwide can help prevent competitors from taking advantage of this syndrome.
✎ NOTE
“everything should be made as simple as possible, but no more simple.”
1:04 AM
“First, academic psychology, while it is admirable and useful as a list of ingenious and important experiments, lacks intradisciplinary synthesis”
1:04 AM
“Second, there is a truly horrible lack of synthesis blending psychology and other academic subjects”
1:04 AM
“The company that needs a new machine tool and hasn’t bought it is already paying for it”
1:22 AM