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“The best thing a human being can do is to help another human being know more.” - Charlie Munger


The global community mourned the loss of a true luminary, Charlie Munger, the Vice Chairman of Berkshire Hathaway, who passed away at the remarkable age of 99 last week. Collaborating closely with Warren Buffett for numerous decades, Munger not only shared invaluable insights into investing but, more significantly, inspired others to lead lives filled with happiness and fulfillment. Attributing his achievements to an unwavering curiosity and a commitment to making rational decisions, Munger exemplified qualities that we earnestly admire and endeavor to embody in our own pursuits both professionally and personally.


Here are 5 key lessons we have learned from Mr. Munger:


1. LEARN WIDELY OUT OF CURIOSITY.

Munger read extensively. He felt ideas from psychology, economics and science could make you a better thinker and decision-maker. Note to self: staying curious opens your mind.


2. FOCUS ON CORE PRINCIPLES, NOT TEMPORARY FACTS.

Munger cared more about timeless fundamentals of human nature and value than fleeting details. By and large, basing choices on lasting truths works better over decades.


3. BUILD TRUST THROUGH HONESTY AND PRINCIPLES.

Buffett said Munger “sees the best in everyone” because he saw the best in himself first. Stand by a moral code, even when hard. Earn respect.

4. BLEND STUBBORNNESS AND OPENNESS.

On his expertise, Munger held convictions firmly yet adapted opinions with new evidence, calling it “strong opinions, weakly held.” Stay flexible.


5. ROLL WITH UPS & DOWNS CALMLY.

Munger took both wealth and hardship in stride, grounded in reality. Composure aids sound judgments regardless of external storms.


Now for the stats...something for everyone came on the market last week in Montecito. There were 8 New Listings ranging from $2.5M to $9.95M and 3 Pending Sales, which also had a wide price range from $2.89M to $7.99M. Of the 2 Closed Sales last week, 2097 Stratford Place stood out as a remarkable buy; this contemporary gem in Birnam Wood offers turn-key living with modern amenities and breathtaking mountain views


Overall in November, there were only a total of 12 sales, but this is double the sales compared to 2022 which had only 6 sales. The highest sale last month was 1492 E. Mountain Drive which sold for $12M (after first listing in August 2023 for $18M). If last week is any indication of the December activity, buyers are out and looking for their dream home even heading into the holiday season.



What Happened in Montecito Last Week?

November 26th - December 2nd










DECEMBER FUN FACTS

• Advent Season - December 3rd marks the beginning of the Advent season.

 Santa Barbara Mission Founded - On December 4, 1786 our beautiful Santa Barbara Mission, the headquarters of all the missions, was founded by the Roman Catholic priest Fermin Francisco de Lasuen. The idyllic site of the mission was chosen by because it was close to the Pacific Ocean and central to the northern and southern missions.

 St. Barbara’s Feast Day ⛵️ - The Spanish explorer Sebastian Vizcaino sailed through the channel between Santa Barbara and the Channel Islands in December 4, 1602


Hanukkah 🕎 - Lasting 8 days from December 7th to 15th, the Jewish festival of lights is a joyous holiday celebrating a miracle from more than 2,000 years ago.

• National Underdog Day - December 16th, there's a special fondness for underdog tales! Let's rally behind the teams and individuals defying expectations and cheering them on today.

• Wright Brother’s Day ✈️ - On December 17th 1903 (120 years ago!) Orville and Wilbur Wright made the first recorded flight in history of a powered, heavier-than-air aircraft. Orville piloted the biplane, which flew for just 12 seconds and covered 120 feet.

 Winter Solstice 🌎 - December 21st marks he astronomical day when the Earth is farthest away from the Sun. Starting in ancient times, people celebrated the rebirth of the Sun event through Yule.


• Christmas 🎄 - December 25th marks the annual celebration commemorating the birth of Jesus Christ. Interestingly enough, did you know that Alabama was the first state to officially recognize Christmas in 1836?!

 National Candy Cane Day - On December 26th - yum!


 New Years Eve - December 31st - Welcome 2024 ♥




That sums it up for last week!

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