How Early Working Experience helped Charlie Munger?

Published on October 19, 2020

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https://www.youtube.com/channel/UCpzAAXa2cvyEnfc7rurcCcQ/joinIn this episode, Charlie Munger was asked does his early working experience helped him and give him a strong advantage over other people in the investing profession?In this episode, you’ll learn:

– How early working experience helped Charlie Munger?

(https://www.yapss.com/post/collection-charlie-munger-65-early-working-experience-gives-you-strong-advantage)

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[Transcript]

(Source: https://youtu.be/X1Oi3esiry8)

AUDIENCE MEMBER 00:08

I have two questions for you. Both you and Mr. Buffett worked in Buffett’s grandpa’s grocery store during your teenage years. And do you think that your early working experience helped you? Give you a strong advantage over other people in this investing profession? Could you elaborate –

CHARLIE MUNGER 00:28

Absolutely.

AUDIENCE MEMBER 00:29

And the second question –

CHARLIE MUNGER 00:31

I was able to learn from my dead great grandfather when I was a little boy. What I learned at a very young age when I was just a kid, I could see some of the adults around me were nuts and yet they were very talented. I could see how much irrationality there was in very talented people.

So I got interested in seeking out the patterns and understanding why it happened and learning tricks to cope and so on. And I did that when I was a little kid. And of course it helped me. Who is not helped by an early start in a promising activity? And what activity could be more promising than in diagnosing stupidity?

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About Charlie Munger

Charles Thomas Munger (born January 1, 1924) is an American investor, businessman, former real estate attorney, architectural designer, and philanthropist. He is vice chairman of Berkshire Hathaway, the conglomerate controlled by Warren Buffett; Buffett has described Munger as his partner. Munger served as chairman of Wesco Financial Corporation from 1984 through 2011. He is also chairman of the Daily Journal Corporation, based in Los Angeles, California, and a director of Costco Wholesale Corporation.

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