University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting

by Daniel Pecaut

Energy Management On the subject of their work habits, Munger offered a fascinating insight. By accident, he and Buffett have ideal habits for what they do. For example, they didn’t know when they started out about modern psychological evidence that you shouldn’t make important decisions when you’re tired and that difficult decisions are tiring. He joked that they didn’t know important decision-making was helped by consuming lots of caffeine and sugar.(143) Munger offered up that because they both live on auto–pilot, they don’t waste energy on the ordinary things that come up every day. He said this is an ideal way to do what they do.