Munger's Lessons for 2026

How can the "Eminent Dead" guide us through the complex economic landscape of 2026? In this video, we apply the timeless mental models of Charlie Munger, Adam Smith, and Benjamin Franklin to navigate a world defined by AI capital intensity, trade fragmentation, and "sturdy growth" with "stagnant jobs". We move beyond simple anecdotes to build a strategic "latticework" for the mid-decade economy, covering: • Munger’s Inversion: How to avoid financial ruin by identifying the "Lollapalooza effects" driving AI euphoria and identifying the "financing hump" where capital spending outpaces revenue. • Adam Smith’s Invisible Hand: Reinterpreting Smith’s philosophy for 2026 to understand why supply chain leaders are shifting from efficiency to "Total Value" and domestic resilience in a fragmented trade environment. • Benjamin Franklin’s Frugality: Why "industry" and avoiding debt are critical defenses against a "structurally higher cost of capital" and how to maintain a fortress balance sheet. • The Agentic Era: Navigating the rise of autonomous AI agents in procurement without falling into the "too hard pile" of unproven technologies. Join us as we synthesize multidisciplinary wisdom to find the "two in total" opportunities that a lifetime provides.