Charlie mungers tips on controlling your emotions in a. The latest investment charlie munger convinced warren buffett was the investment in chinese electric car maker byd. He then gave up the practice of law to concentrate on managing investments and later partnered with. The remainder of this article is dedicated to presenting and analyzing quotes from charlie munger as they apply to business, investing, and living a fulfilling life. As carlin put it, munger is known for having a simplistic view of investing, but that view has served warren buffett trades, portfolio s partner very well. As the vice chairman of berkshire hathaway, munger. Charlie munger the ultimate investing principles checklist.
Mar 11, 2018 there are four value investing fundamentals that if adopted properly by the investor will give you an edge and contribute positively to your returns. Munger s worldly wisdom consists of a set of mental models framed as a latticework to help solve critical business problems. Jul 16, 2016 charlie munger summary july 16, 2016 april 11, 2019 niklas goeke personal finance 1sentencesummary. Upon graduating from harvard law school in 1948, charles. If there is anyone who offers better investment quotes than warren buffett, it is charlie munger. Charlie mungers investing principles a wealth of common sense. Oct 18, 2019 charlie munger trades, portfolio is considered to be one of the greatest investors and thinkers of the financial world. Charlie munger if you seek big returns, whether theyre compressed into a few years or over our investing lifetime, big losses are just part of the deal. In a 2017 video, charlie munger famously claims that he owns just 3 investments, viz. In this summary of poor charlies almanack, ive extracted the most important points. Munger, became an american investor and philanthropist. Munger is known to read quite a lot of books on varying topics. The superinvestors of grahamanddoddsville, published in 1984, mungers investment partnership generated compound annual returns of 19.
This formula is a guideline that is followed by arguably the most successful investors of our generation. Apr 30, 2019 so, at this point, its clear that the book is awful. One piece from mungers opening statement stuck out because it fits with a book i finally started reading called concentrated investing. Billionaire charlie munger knows a thing or two about what it takes to achieve success after enjoying a fruitful law career, munger joined investment firm berkshire hathaway, where he has served. Inversion allows us to flip the problem around and think backward. Munger had served as chairperson in wesco financial corporation for 27 years until 2011. Im happy to tell you that, in tren griffins charlie munger, that book has finally. Charlie munger is the vice chairman of berkshire hathaway corp. Charlie mungers investing principles a wealth of common. Visit vintage value investing today to learn more about the investing secrets of ben graham, warren buffett, and charlie munger. Robert hagstrom, author of the warren buffett way and investing.
Charlie munger value investing strategy joshua kennon. This week weve compiled our list of charles munger s. Charlie munger warren buffett famously ran a partnership for a small group of investors before turning berkshire hathaway into his investment vehicle of choice. Costco, berkshire hathaway and an investment in li lus investment partnership. Over time i have used many of them to my advantage and the rest are in my list as reminders of ways i could improve my condition or as. Inversion is a powerful mental model to improve your thinking because it helps you identify and remove obstacles to success. There are many paths to investment heaven and weve written on the topic before. The vicechairman of berkshire hathaway corporation, the diversified company chaired by renowned investor warren buffet. Feb 08, 2017 39 book recommendations from billionaire charlie munger that will make you smarter. He produced extraordinary results for himself and his investors.
Charlie munger is a friend and business partner of warren buffett, the oracle of omaha. Charlie munger says living by this rule is key to his success. He also remains director of costo continue reading charlie. Munger ran a firm in the 1960s and 70s that scored returns of.
If you can get good at destroying your own wrong ideas, that is a great gift. Charlie munger munger is one of the best investors of our time you can see more on munger s resource page. In multiple speeches, and in the book poor charlie s almanack. Charles thomas munger born january 1, 1924 is an american investor, businessman, former. Looking back at the 3 stages of charlie mungers investment. Then you can start reading kindle books on your smartphone, tablet, or computer no kindle device required. A person holding an open book with outstretched arms. This is quintessentially a book on what charlie munger might say, do or teach in a par. Over the years charlie munger has recommended a list of books that we have. Hes here to talk about how to make investment decisions and life choices that help secure prosperity and. 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.
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. Last week we put together our list of seth klarmans. Learning from charlie mungers investment approach, stocks. Instead, he has poured his wisdom into various speeches over the decades. But returns on tangible equity will not be as high as 7 8 years ago. Sep 01, 2014 if you can get good at destroying your own wrong ideas, that is a great gift. Heres a list of every book warren buffett has recommended this. Mar 11, 20 charlie munger structured his business life in such a way that he acquired cashgenerating assets so that he could always have money coming in to buy other undervalued assets, which were often. Charlie munger built his fortune by seeking income first. He has helped shareholders of berkshire hathaway amass untold fortunes. May 09, 2019 munger ran a firm in the 1960s and 70s that scored returns of over 24% per year. Buffett has called munger the best 30second mind in the world, stating, he goes from a to z in one move.
Munger is vice chairman of berkshire hathaway and warren buffets partner according to warren buffet. Charlie mungers mental models approach to life gives him a unique perspective. Over the years charlie munger has recommended a list of books that we have compiled, that we believe will bring great value to your life. A couple of weeks ago tobias and i compiled our list of 50 of the best investing books of all time. Dec 27, 2017 this will help ensure that even if an individual spends all of the money in their current account each month, they may still be able to benefit from the effect of compounded investment returns. A compilation of quotes from berkshire hathaways vice chairman on life, business, and the pursuit of wealth with commentary by david clark. The complete investor and millions of other books are available for instant access. Warren and charlie invented an investment formula that is underappreciated by the business community. While warren buffett is rightly viewed as one of the best investors of all. Mastering the power of the focus investment strategy this book has been. In this short book 192 pages tren griffin gives us a selection of wellchosen quotes from which we can built up a picture of charlie munger the man and charlie munger the investor not that theres much difference between the two. Loomis offers readers insights into buffetts investment strategies. He has a 50year track record with an average annual return of 19%. His longterm returns might have been better if it were not for the mid70s market crash.
Munger, along with buffett, is one of the main inspirations behind the book seeking wisdom. 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. It had made me hate charlie munger s name this is a book of quotes rather than anything else. As the companys vice chairman, he has amassed a billiondollar fortune. Learning from charlie mungers investment approach gurufocus. Charlie mungers 10 rules for investment success the motley. Charlie munger reveals secrets to getting rich youtube. Charlie munger is one of the richest businessmen in the world, along with being a business partner of warren buffett and vice chairman of berkshire hathaway. An investment algorithm to lean on hard when it is available. Priceless wisdom from warren buffetts righthand man at berkshire hathaway. Ive always wanted to interview charlie munger and warren buffett, but ive been. Charlie munger has spotted traits that characterize the succesful value investor. It stresses the importance to have a good understanding of various disciplines like psychology, strategy, finance economics, etc.
This book presents the essential steps of mungers investing strategy, condensed here for the first time from interviews, speeches, writings, and shareholder letters. At 95, charlie munger is best known for his steady role as the righthand man of investing legend warren buffett. I watched charlie mungers at the daily journal annual meeting. Charlie mungers quotes mungerisms february 12, 2011 7 comments here is my list of mungerisms. The great charm of charlie munger is his simple, no frills approach. Poor charlies almanack by charlie munger book summary and.
Charlie munger s advice on investing and life choices that make a person wealthy. Charlie mungers tendencies of human misjudgment novel investor. Charlie munger munger is one of the best investors of our time you can see more on mungers resource page. Munger, along with buffett, is one of the main inspirations behind the book seeking. Enter your mobile number or email address below and well send you a link to download the free kindle app. Apr 03, 2019 before charlie munger trades, portfolio joined warren buffett trades, portfolio berkshire hathaway brk. Although less known than the legendary warren buffett, charlie munger is the one of the worlds greatest living polymaths. Jul, 2012 if you know anything about charlie munger, hes famous for his quick wit, plain spoken wit and absolute genius. In all his talks, he shows wit, rationality, and incredible clarity of thought. In his book poor charlies almanack, munger has introduced the concept of. A dozen things ive learned from charlie munger about risk 25iq. Luckily, diehard munger fans compiled his scattered works in one of the most remarkable investment books out there. To vote on books not in the list or books you couldnt find in the list, you can click on the tab add books to this list and then choose from your books, or simply search. Charlie mungers value investing principles checklist.