Charlie mungers advice on investing and life choices that. As well as to those who are curious to learn how one can earn so much money by simply investing. Particularly interesting to me was how the concept of margin of. In his book, tren griffin takes you through mungers thoughts on value investing. The next section, assembled by leading investor whitney tilson, is well edited and benefits from tilsons massaging of quotations made over time into logical subheadings. Munger has been investing, in one way or another, for more than six decades, which means he has almost unrivaled experience as a long term investor. It will guide you on how to think differently, which is the most important. A person holding an open book with outstretched arms. The vicechairman of berkshire hathaway and warren buffett trades, portfolios righthand man, charlie munger trades, portfolio, is a highly accomplished investor in his own right. Charlie munger on the art of successful investment. Aug 29, 2015 charlie munger is in this set of quotations is discussing another reason why the value investing system had to evolve for berkshire. I read in a book that you prefer talking to young people about life and.
The amount of money that berkshire must put to work each year is way too big to hope that enough socalled cigar butt businesses with a few remaining puffs left in them can be found to compose a full portfolio. Munger is known to read quite a lot of books on varying topics. Charlie munger reading list from poor charlies almanac. Tao of charlie munger book by david clark official. Will there ever be another investing book like this. The best way to get what you want is to deserve what you want march 6, 2017. Trying to get rich fast is dangerous because we have to gamble on the shortterm price direction of some stock or other asset. About charlie munger charlie munger is one of the great minds of the 20th century.
Get the full series in pdf get the entire 10part series on charlie munger in pdf. If youre looking for a reading list to dig through, charlie mungers ranks at the top. A compilation of quotes from berkshire hathaways vice chairman on life, business, and the pursuit of wealth, charlie munger will be seen as the proverbial enigma wrapped in a paradoxhe is both a mystery and a contradiction at the same time. This book was a solid, short introduction to the world of charlie munger from an investing point of view. Buffett has called munger the best 30second mind in the world, stating, he goes from a to z in one move. Here are a dozen pieces of this legendary investors most valuable advice. Perverse incentive is worse than no incentive march 5, 2017. Heres what charlie munger says all young people should know. Sep 01, 2014 heres mungers take on losses from the janet lowes book damn right. Listening to what schopenhauer had to say about good books, i think. Munger ran a firm in the 1960s and 70s that scored returns. Jul 15, 2017 for those who dont know, charlie munger is one of the worlds most successful investment managers. Aug 19, 2015 the book is called charlie munger, however, 70%, if not more of the content is about warren and charlie warren first, charlie second. Buffett may be the best investor in the world but he wouldnt be there without charlie munger.
Charlie munger and warren buffett are the two greatest sources of incredible investing anecdotes. The vicechairman of berkshire hathaway and warren buffett trades, portfolios righthand man, charlie munger trades, portfolio, is a highly. Poor charlies almanack is a collection of charlie mungers best advice given over 30 years, in the form of 11 speeches given as commencement addresses and roundtable talks. As such, his views on investing for the long term and riding out market volatility are highly valuable. May 08, 2018 3 tips warren buffett and charlie munger once gave a 14yearold shareholder. Share tweet for exclusive info on hedge funds and the latest news from value investing world at only a few dollars a month check out valuewalk premium right here.
These are great quotes, tips, and pieces of wisdom about value investing. Charlie munger offers timeless and pithy wisdom on getting rich, focus, fake. Charlie munger on the art of successful investment building. May 07, 2018 value investing has changed over the years, but the fundamental way its disciples think about it hasnt, according to berkshire hathaway brk. And he has some tips for young people just beginning their careers and starting. It is a book that lets you take a peek into the mind of charlie munger. Charlie munger, financier, polymath, famed vicechairman of berkshire hathaway, now shares with his partner, warren buffett, a reputation as an oracle of omaha.
Jan 19, 2019 about charlie munger charlie munger is one of the great minds of the 20th century. There are a huge number of people trying to do the same thing. There are a huge number of people trying to do the same thing, many of whom are much better informed than we are. He blends psychology with economics, and makes you realize just how important psychology is to business. Below is an attempt to capture that wisdom in one shareable place. University of berkshire hathaway is a remarkable retelling of the lessons, wisdom, and investment strategies handed down personally from warren buffett and charlie munger to shareholders during 30 years of their closeddoor annual meetings. Ive always wanted to interview charlie munger and warren buffett, but ive been. Listen in for a great stock market education on basics, learn how to invest on your own, and follow along with realtime examples and investing tips from week to week. Charlie mungers career advice for young people cnbc.
Jul 16, 2016 charlie munger summary july 16, 2016 april 11, 2019 niklas goeke personal finance 1sentencesummary. I have read all of the talks included in the book earlier, but rereading them is a true pleasure. If you live a long time, youre going to be out of inves tment fashion some of the time. Munger is also chairman of publisher newspaper publisher daily journal corp. In the chronicles of american financial history, writes david clark in the tao of charlie munger. Charlie munger munger is one of the best investors of our time you can see more on mungers resource page. It has a ton of munger quotes, but griffin also does a solid job weaving in quotes from other famous investors like warren buffett and seth klarman. Billionaire charlie munger is a compelling character with a lot to teach investors. Value investing has changed over the years, but the fundamental way its disciples think about it hasnt, according to berkshire hathaway brk. The early pages cover charlie munger s family history and his framework for investing. Jun 21, 2019 the best inspirational and motivational quotes from financial investing guru, charlie munger. The 10 best charlie munger quotes vintage value investing these 10 best charlie munger quotes include some of these pithy mungerisms, as well as some longer quotes from his various speeches. In keeping with our intent to observe how he seems to do it, we will recap his approach by using the checklist methodology he advocates. Over the years, ive put together a charlie munger reading list.
This article mentions twenty books charlie munger has read and. In the 2018 edition of poor charlies almanack, a book of insight from charlie munger. Charlie munger, the vice chairman of berkshire hathaway, former hedge fund manager, and billionaire value investor, was instrumental in changing warren buffetts way of thinking about value investing. Mastering the power of the focus investment strategy this book. Apr 06, 2020 and if that should wet your appetite for more of charlies wisdom, for good times and bad, see poor charlies almanac. Charlie munger value investing strategy joshua kennon.
As vice chairman of famed holding company berkshire hathaway, charlie munger is warren buffetts righthand man. The best charles munger books of alltime updated for 2020. Luckily, diehard munger fans compiled his scattered works in one of the most remarkable investment books out there. And, of course, the text is sprinkled with mungers unique brand of humor. As berkshires vice chairman, the 95yearold munger is warren buffetts righthand man. The following principles are not employed by charlie on a onebyone or onetime fashion as the checklist format might seem. Apr 01, 2018 consequently, a book about charlie munger is, most obviously, a book about wannabe investors. In this summary of poor charlies almanack, ive extracted the most important points. Charlie munger says charlie mungers wits and wisdom for. If you are a fan of warren buffett, you will like this book. Poor charlies almanack by charlie munger book summary and.
In the appendix of poor charlies almanac, theres a list of 20 books that munger recommends. Im happy to tell you that, in tren griffins charlie munger, that book has finally. In all his talks, he shows wit, rationality, and incredible clarity of thought. Charlie mungers 10 rules for investment success the motley. Behind the scenes with berkshire hathaway billionaire charlie munger. Charlie munger on getting rich, wisdom, focus, fake knowledge. How good gamblers think the one secret to winning at gambling is the secret to winning at investing. Here is charlie mungers first rule of value investing yahoo. Charlie mungers investing principles a wealth of common sense. From a small californiabased chocolate company to an illinois bank, and a. Charlie munger investing principles in this video i share 6 principles from charlie munger that will make you more successful in both investing and life. Worldlywisdom from charlie munger here is a sampling of charlies insightful comments at the 20 daily journal corporation annual meeting. Charlie insisted that the value investing investor would be better served by focusing on better quality businesses, even if the price were higher. This is okay since the two tycoons have extremely tight working relationship and it is hard to separate them unless the sole purpose is to distinguish the two.
Mar 30, 2020 the vicechairman of berkshire hathaway and warren buffett trades, portfolios righthand man, charlie munger trades, portfolio, is a highly accomplished investor in his own right. Feb 06, 2020 poor charlies almanack is not really a personal finance or investing book but more a book on philosophy and psychology. As the companys vice chairman, he has amassed a billiondollar fortune. It will guide you on how to think differently, which is the most importantand. Charlie munger investing principles 6 timeless lessons. Hes perhaps less wellknown than his uber successful investing partner, warren buffett the sage of omaha but is, nonetheless, a source of amazing worldly wisdom.
May 09, 2019 as berkshires vice chairman, the 95yearold munger is warren buffetts righthand man. If something cannot go on forever, it will eventually stop march 4. Near riskless trading strategies using options, allows you to use advanced arbitrage techniques for highly profitable, almost risk free results. The book is dense with information and heavily footnoted. Griffins indepth, carefully curated presentation of the tips, tricks and tales behind mungers incredible investing career. Charlie munger pdf summary tren griffin 12min blog.
But, it may be also interesting to students of investments strategies. With that in mind, here are five tips from munger on how to invest in uncertain times. Charlie munger teaches you the investment approach and ideas about life from warren buffetts business partner and billionaire charlie munger, which the two have used for decades to run one of the most successful companies in the world. A look back at some advice from munger on the topic of investing april 09, 2020 we can look to charlie munger trades, portfolio for some advice on how to survive and prosper in the current market environment. Building a charlie munger investing checklist investing. Here is charlie mungers first rule of value investing.
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