Thanks to the phrases of Charlie Munger we can find motivation and help not only for the financial world, but also for ourselves to reinforce our discipline and our desire to read, Well, he is a very cultured man who defends the importance of acquiring new knowledge on a daily basis. . Home Hedge Fund Meeting Notes Whitney Tilson: “Why the Hell Didn’t I Listen to Charlie Munger?”. Charlie Munger: The First $100,000 is a B*tch At an old Berkshire Hathaway Shareholder Meeting in the 1990’s, a young man asked Charlie Munger for his best advice on creating wealth. While the interviewer could have dived into some of the questions more deeply, or had better questions, it is still good to hear Charlie’s latest thoughts on the economy during COVID, China, career selection and investing. Source: Markets Insider / Charlie Munger’s Daily Journal reveals an Alibaba stake worth $37 million. It is interesting to see that. With little regard for fundamentals, speculators and retail investors may have helped create a bubble that could soon pop. Source: Yahoo Finance / Alibaba Group Holding Limited Share Price 1 Year Chart. Billionaire value investor Charlie Munger, the 97-year-old Vice Chairman of Berkshire Hathaway, shared his latest thoughts on Bitcoin on Wednesday (February 24) while speaking at the Annual Meeting of Shareholders of the Daily Journal Corporation.. A Recap of Munger’s Past Comments on Crypto. Background This speech was originally given by Charlie Munger at USC Business School in 1994. People calculate too much and think too little. 11. Since then, the company has not made any further changes to its portfolio until recently. But, I have to admit that Charlie Munger and Warren Buffet have 100% valid criticisms against cryptocurrencies. Charlie Munger on Getting Rich, Wisdom, Focus, Fake Knowledge and More – Here is a long list of wonderful thoughts from Munger. In the first quarter of 2021, the Daily Journal added a new holding for the first time in over a decade. 2: A Pippen to Michael, a Woz to Jobs, and, dare we say, a Munger to Buffett. Jan 08, 2021 I discuss why Charlie Munger says that the first 100k saved is the it really is to save and invest when working towards your first $100,000. Charlie Munger is also the Chairman of the Daily Journal Corp and sits on the board of retailer Costco. For 40 years, Charlie Munger has served behind the scenes as Warren Buffett’s most trusted business partner. — Charlie Munger . I had Thomas Jefferson over my … Next we are going to see the 70 most … The full title of the talk is “”A Lesson on Elementary, Worldly Wisdom As It Relates To Investment Management & Business”. This culminated in his modified value investing approach, which was insightful and wise. – Charlie Munger. Munger compares Bitcoin to what Oscar Wilde said about fox hunting. Charlie Munger: I would argue that one filter that’s useful in investing is the simple idea of opportunity cost. "Munger offered his thoughts during the Annual Meeting of Shareholders of the Daily Journal Corporation (), where he serves as chairman of the board. The young man complained that he was having a hard time getting started and that his net worth wasn’t increasing as fast as he would like. — Charlie Munger . First off, I’d like to say Munger is a great fundamentals stock investor and he really knows how to pick the greatest non-tech “monopoly businesses” in terms of his U.S. equity investment framework. Charlie Munger (Charles Munger) is an American lawyer, businessman and investor with an estimated net worth of $1.31 billion. There are answers worth billions of dollars in a $30 history book. "Poor Charlie's Almanack" got on my list because Drew Houston of Dropbox said it was one of the best books he had ever read. “The first is a bitch.” Charlie Munger Is Right, Haul Ass For Your First $100k; The First $100,000 is a B*tch; The Math That Explains Why Net Worth Goes Crazy After the First Investing legend Charlie Munger, Berkshire Hathaway's (BRK-B, BRK-A) vice-chairman and Warren Buffett's long-time business partner, was recently asked when investors should sell a stock, especially as prices seem inflated amid a "speculative frenzy. And of course the achievements have been so … However, it is considered low by many people given his wise decisions and contributions. So, I don't mind a little inequality," Munger said. — Charlie Munger . Whitney Tilson: “Why the Hell Didn’t I Listen to Charlie Munger?” By: Jesse Koltes. The wisdom that this great investor can convey can go a long way. Why Charlie Munger says market returns will be lower next decade Saturday, December 26, 2020 Economic Times Legendary investor Charlie Munger says successful investing requires a fine balance and a weird combination of patience and aggression. This was because Charlie Munger, (a 97-year-old investor, a business partner of Warren Buffet, and vice chairman of Berkshire Hathaway)criticized brokerages for making money by selling gambling services to people and also compared retail investors who engage in momentum trading to gamblers betting on racehorses. In today’s Alibaba stock analysis, we will discuss why Munger invested in the company based on its latest earnings performance. Charlie discussed how and why his philosophical foundation was laid, he touched on his love of reading, Berkshire’s investment philosophy and a plethora of life lessons. ... Charlie Munger on why he admires Singapore's first prime minister. The best armor of old age is a well-spent life preceding it. Charlie Munger, Warren Buffett’s #2, credits his success to knowing a little about a lot Behind every lauded genius, there tends to be a No. Charlie Munger: 5 Quotes Show Why Warren Buffett's No. The first $100,000 is the hardest Jan 08, 2021 Charlie Munger has said that accumulating the first $100,000 from a After saving and investing for 5 – 10 years however, the power of There is no better teacher than history in determining the future. But to increase her net worth from $600k to $1 million, it will only take 6.37 years. And I see why so many people in economics like it because it is just so perplexing and so interesting. Further reading: “A Lesson on Elementary, Worldly Wisdom” by Charlie Munger – James Clear Charlie Munger, 97, and Warren Buffett, 90, the greatest buddy act in the history of American business, will be reunited at this year's Berkshire Hathaway shareholder meeting. This illustrates just how insanely powerful compound interest is once you have a few hundred thousand dollars saved up. Despite being 96 years old, Charlie Munger is as sharp as ever in this interview sponsored by CalTech. Speech Transcript I’m going to play a minor trick on you today because the subject of … Charlie Munger and Warren Buffett are very focused on finding investments which possess odds of success that are substantially in their favor. 9. As of 2020, Munger has a net worth of $1.6 billion. Videos. Over the last year or so, I've been reading a few pages of Charlie Munger's book, "Poor Charlie's Once you've finally saved $100,000 things get a little easier. Charlie Munger (Trades, Portfolio), reduced the holding company's position in South Korean steel producer Posco (PKK) by 85% to just under 10,000 shares.. 8. Over the past few years, Munger has been a harsh critic of Bitcoin. 17 Top Quotes from Charlie Munger #1 “I met the towering intellectuals in books, not in the classroom, which is natural. Charlie Munger: I think the economic development of the modern world is very interesting. I can’t remember when I first read Ben Franklin. This is why Charlie Munger focusses on finding excellent businesses with durable competitive advantages so that the company in question can continue earning above average returns with little threat of competition. If you have one opportunity that you already have available in large quantity and you like it better than 98 of the other things you see, well, you can just screen out the other 98 percent because you already know something better. It’s a very interesting subject. The following 17 best Charlie Munger quotes show his approaches to life, work, and investing. I can understand why he said so, but I’m not sure I agree with him. 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