| I Got RICH When I Understood THIS Charlie Munger is one of the great minds of the 20th century. Below is an attempt to capture that wisdom in one shareable place. .He is a longtime resident of Pasadena, California, is perhaps best known as the Vice Chairman of the world’s greatest compound interest machine: Berkshire Hathaway, Inc In the time of his and Warren Buffett’s reign as the leaders of Berkshire, the company has returned roughly 2,000,000% on its initial value, or 20,000 to 1. This was accomplished in the adult lifetime of two men, simply by investing the capital of the company in an increasing number of prosperous enterprises and without dangerous amounts of borrowing. It is a story for the ages Charlie is known as a “sidekick” only to people who don’t know him very well. To those who do know him, Charlie is a fiercely independent intellectual who, in the words of his partner Buffett, “Marches to the beat of his own music, and it’s music like virtually no one else is listening to Besides his work co-headlining the Berkshire affair and a variety of other business and philanthropic ventures, Charlie is known for his fluent, multidisciplinary mind. Trained as a meteorologist during World War II and as a lawyer at Harvard before devoting himself to business, Munger has drawn heavily from the study of psychology, economics, physics, biology, and history, among other disciplines, in developing his system of “multiple mental models” to cut through difficult problems in complex social systems. It is a system like no other. As a result, his insights on business and life are unique, rare, and correct with unusual consistency. Speeches and writings made long ago stand up in their logic and validity today as much as when they were written, given their basis in the deeply fundamental wisdom of the world. Adopting the “Munger” approach to thinking is difficult, as is imitating any genius, but utilizing its core tenets will very quickly begin to remove the cobwebs from your mind. When asked his secret to success, Munger once answered simply “I’m rational.” It's been the third time he's been away, and I've seen our Holdings in Berkshire. Scroll up Buy 50% tag below. I think the environment for long-term sharing and general flexibility and global outcomes. And in the markets. The long-term owner whose quoted stock is declining and says 50% would argue that if you are not willing to respond to Equanimity at market price, a 50%, double or triple reduction. a century. You do not qualify as a regular shareholder and deserve moderate results. You will be compared to mild-tempered people, who may have more philosophy in this market. You can never get rid of all the prosperity of the capitalist economy, but it would be much worse if there were clever legal barriers. Human behavior that consumes a large portion of salmon fillet. That will definitely come. Without the intellectual power and what is happening in America the people who make money due to lack of intellectual power simply gain more power by making more appeals, and making greater and greater political contributions and aided by a particular ideology, nutritious food, which I thought was because the free markets are working. Well, compared to saying communism that followed automatically that if there were no restrictive laws. To achieve financial behavior, the economy will work better. And it is not. So the economy works poorly. If you allow unrestrained sin and folly and finances, that goes back to the South Seas bubble without a clever barrier system. Extreme immorality. And extreme madness will happen in the markets. They need to be watered. Sinan, the next one needs to be trampled on. Both groups have wings full of fools. That's the kind of game. And the reason it works, as it did, is that people, in the middle of the night, pull out idiots on both sides. And but every once in a while, idiots get in control. And, of course, that has side effects, so you will free up the system environment. And we went a long way in withdrawals and people making so much money. The economy was thriving because it was so prone to stupidity, prosperity, and increased consumer debt that everyone thought it was not so good. Yes, it was your next life. Three weeks can be very fun if you want to use heroin. But it would completely destroy you on a long pole and that is what the economy is doing. When he allows himself to be seduced by the power of foolishness. Boom, in allowing all this immorality and this, and this madness to take over. In all large numbers. He was the only one who spoke immediately. I was a horse donkey. I am ashamed of my lack of foresight. I remember this and who else Alan Greenspan said that. So in my book He's kind of a hero and that hard in his years. Looking back on his outstanding career as his most successful in praise and I actually say I was a patoot of a horse and that’s what he did. So to me, you are a hero, we need a lot of that kind of thing. |
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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