A Conversation with Charlie Munger

The vice chairman of Berkshire Hathaway shares his insight and wisdom at a Ross School of Business event.

[@hydrazine19]

"Never feel sorry for yourself ... when your child is dying of cancer, etc." Charlie lived through seeing his beloved son die over months. In the book Damn Right (I think), it wrote of Charlie after work, he’d attend to his son, then he'd step out for walks to cry it out, and then go back again to attend to his son. Talk about ethos. How painful he earned his right to say this. I don’t take his words lightly.

[@joeybasu516]

"Why fret too much about what you can't fix? Just keep your head down & do your best."

[@2011blueman]

I love Munger. He's brilliant and doesn't have any kind of filter on what he says, that's a 1 in a billion combination.

[@2011blueman]

Henry Wissmiller maybe when you're an adult you'll understand.

[@Onlinesully]

yes he is brilliant. in my view though, he is very much careful with his worlds and had a strong filter for sure.

[@jimmmy1941]

Becky Quick is a terrific interviewer, and Charlie is brilliant.

[@vincejukic5656]

Becky Quick is world class

[@JohnLudena]

10 years too late but the almighty KZbin algorithm finally delivers this gem. I’m gonna miss this man when he’s gone and he’s no longer dropping knowledge bombs on us like this one.

[@investmenttudor1659]

Who will replace Buffet & Munger's wisdom, the day when they are gone? Thank God we have these recordings

[@jaysalhan3684]

We will. Those that intake the knowledge and act on it will take what we've learned, add to it, and propagate it for the future.

[@stephenshearon6420]

Absolutely. We will have lost a great deal when those two are gone. One option, though, is to learn from them and emulate them now so we can carry on in their places.

[@matt79de]

Luckily they also left us a book or two... 😉

[@PatAlpaugh4]

Guy Spier and Monish Pabrai

[@grandadcrypto]

That is a question I was thinking.

[@arianbehnami1050]

Rest in Peace. The world has lost one of its greatest.

[@eddylauterback1312]

Thank goodness we have these videos to learn from

[@Bravo_Alpha]

Amen 🙏

[@chloeduan8301]

@14:00 "1. Never feel sorry for yourself. Just keep plugging at it. 2.And never have any envy." @15:48 "Treat success and failure exactly the same. Why not take these hardships to make a man out of yourself; or a person out of yourself." @18:50 "Why fret too much on what you can't fix. Just keep your head down and do your best" @21:10 - accountants' immense contribution to recent failures @24:50 - competition & envy ***

[@thomasedmonds6658]

Yoda, personified.

[@mohammedhasen7083]

@Evan Hodge 10.000

[@PINGPONGROCKSBRAH]

God, he's still so sharp even at 90.

[@kemchobhenchod]

Starts at 8:30

[@xiaodongsam]

TY!

[@narumoljongsawat5070]

Sam Li Jack cost vac.

[@crypticsaturn9970]

Thanks

[@dustinneathery9492]

😘

[@joelwarby6112]

wubbalubbadubdub The hero we didn’t know we needed

[@neilvarghese9138]

As much as I love Buffett, no one comes close to Munger's straight shooting style

[@shengwu6044]

First time I heard Munger speak...Warren is more polish and inviting. Munger is a straight shooter, which is good.

[@hondusspa]

Most of the Berkshire meetings are G rated... that is until Munger starts speaking!

[@Bhavesh_verma]

​@@hondusspawhat's g rating? Can you please explain

[@msr4668]

@@Bhavesh_verma it means "suitable for children to watch"

[@maikaimakena9424]

What an amazing man. Grateful that he shares his mindset with the rest of us.

[@recoveringheart]

Wow... It just blows your mind to see such a knowledgable person. It should be someone like him who should captain our country...

[@InvestorCenter]

Why doesn't this have more views?! Great pieces of wisdom from Charlie Munger.

[@dwijeshgowda3273]

Because sadly, cringe has more value today. :(

[@shashankkumar8448]

Because brilliance requires mental price which not many are willing to pay!

[@TheHappyangel8]

Thank you ......Charlie is absolutely amazing!!!! Need more brilliant and candid people like Charlie to make this world a better place!!!

[@denisplouffe514]

Wonderful experience for me to be exposed to his wisdom. Thanks to all involved.

[@Abeladamu]

Society watch's Justin Bieber 100 million times but this has 100k views. That explains why only a few get ahead for generations. Educate yourself with wisdom like Munger while we have them.

[@xavierdiaz9536]

Abel Adamu who is just in beiber?

[@kokwah5517]

The wise and wisdom and smart , from day one are always minority! I hope I have answered your comment on Justin's was viewed 100 million times but Munger only 100 k views!!!

[@andrewgoulding]

This really says a lot about our society

[@pbc1ism]

Abel Adamu Who really cares about that irrelevant statistics. Just let the dumbs, be dumber, and if you're wise, be wiser still. Let's just be grateful that this valuable information is available to US who are interested for a minimal cost. Nothing is free, we all paid our own service provider to get on the Internet to get on KZbin.

[@dileepjayamal9968]

Positively, 100K good people are more than enough to change the entire system.

[@MATGO]

Love this dude...so truthfully brilliant!!!

[@TB1M1]

Brilliant man. People who lived through depression and wars have such a unique no nonsense outlook. There is so much wrong in large company systems today. Most seem to want to better themselves but still then reach the plateau of status quo when instead of being rewarded they should be demoted. The ego should not be rewarded. Also there is a big difference between leader and manager. Munger never allowed himself to get to that point!

[@shengwu6044]

This is like MJ and Scottie Pippen...how does such brilliance work together? Putting ego aside and just getting down to the business.

[@tinnguyen2219]

Thank you so much for sharing this useful data! Greatly appreciated.

[@dogestranding5047]

"I'll be 87 in January if I make it." And now he's past 96 years.

[@terenjan]

At that age you just can't be sure..

[@41357500]

hu h????????????????

[@batissta44]

god bless

[@41357500]

@@broadcast_bar nope

[@riteshkoranga5298]

97 now

[@tanneroz5752]

Charlie took me by surprise when he started to talk about solar and Li-ion batteries. He correctly predicted the cost of batteries would drop faster than most people thought 10 years ago. I am surprised he did not allocate more financial resources to accelerate the transition from hydrocarbon sources to solar as he was exceptionally good at articulating the problem and solution.

[@Cagmito125sportsbikespares]

My thoughts to, talks about it but does not allocate capital to it so perhaps prefers coke or snickers to solar.

[@nukm4]

My guess is that he felt it was outside of his circle of competence. Doesn't matter that he thought the solution was going to come, he needed to be able to judge where it was going to come from.

[@lesleyjohnson8488]

Buffett says you can know something is the future, like airplanes in 1906 or automobiles in the late nineteenth century, but that doesn’t mean you know how to make money investing in it. Hundreds and even thousands of companies have gone bust while correctly predicting the future of technology.

[@tanneroz5752]

@@lesleyjohnson8488 Thanks for sharing.

[@joeybasu516]

What a hidden KZbin treasure!!

[@dominikdabrowski7082]

This was filmed Sept 14, 2010

[@SimplyAndy]

A great introduction, I would have to say. Looking forward to listening to the rest too.

[@joebeam9051]

Yay. Becky is a great interviewer and Charlie a great interviewee

[@maikaimakena9424]

Very very wise MAN. THis should be mandatory listening ⚡️⚡️❤️🙌

[@ThisisAngieM]

Loving this in 2022

[@davidallen8611]

this guy is more gangsta than lil wayne

[@hotchinahk]

What I have learnt from Charlie Munger in this video, Simply in life and be happy...........Thank you

[@nibilengunliedguruworkushi2290]

Bacs was here -Oct 2, 2019 jeff’s audit class

[@156615]

ABSOLUTELY BRILLIANT !!

[@chrisagada]

1:20:15 - major opportunities in life are few. Learn to recognize and seize them boldly.

[@jiangmouren]

You will be missed Munger.

[@samfindlay4775]

I don't read self help books. I watch Charlie Munger rant.

[@virgentina4757]

Thank you so much guys good evening everyone fantastic speach especially sir charlie Munger thank you so much sir

[@chloeduan8301]

He is so wise and so funny!

[@ConeDaRagusa]

Great moderator and host and amazing guest

[@shanushirpure]

watching this too late but yet very relevant ❤

[@jso19801980]

becky quick, charlie and warren must be good friends by now

[@StringDeposit]

2 hours with Charlie, wow. (Or The Berkshire Hathaway Q&a sessions) . people ask me have i seen this or that Hollywood film, this or that TV show , , do I like this or that political topic . . . 2 hours with Charlie. Becky. How lucky we are. Thank you so much to everyone who brings these people to the public. Thank you .

[@ackilla86]

i like how he sits...lol

[@kalpeshkalal7736]

@Ed literallly

[@FighterFlash]

Awesome portrait with gangster rap in background

[@pgaquigz1125]

Like he’s the head of the gambino family

[@marceldwayne8491]

Men sits all day, he is an expert when it comes not doing anything lol 😂

[@OhihnEDM]

@@marceldwayne8491 or he has a disability and still has more capability than you and your whole families lineage combined

[@mhayato3]

1:18:00 “...real opportunities that comes to you are few, ....when you find one and you can recognize clearly, seize it boldly and don’t do it small...”

[@vernefits1953]

Great school

[@ivanyu1122]

Can someone please inform me, in the beginning of his speech, he said there was a problem with universities buying the same "something" are in for a disappointment, what exactly was he talking about?

[@ManojKumar-1985]

No higher resolution for camera's 10 years back...just takes away the joy of viewing

[@seandunn1128]

Content, idiot. Try to understand the world doesn't revolve around you.

[@TheDHEL13]

Thank you for sharing, he truly is remarkable! Quote of the day: Suck it up and cope!

[@JamrockVybzTV]

We love you Charlie

[@thetillerman23]

My God...we will be lesser when men of his caliber have passed. Charlie Munger is a special breed. I sure hope that the subsequent generations can muster up the wherewithal to slow down and think. Because that’s what it takes to create the moral fiber to operate the way these fellows do.

[@alfredotto7525]

I agree 100% with Charlie on this. We need to get rid of the crazies and put more people in charge who are more sane. We need the people who make these huge piles of money every year to pay their fair share in taxes.and by fair share I mean as a percentage of income. If the average person pays 25 to 30% in taxes there is no reason that people who make a few million can't pay the same rate as the average Income earners.

[@allenjacob9514]

wall street had an amazing run from there.. of course, its easy to quote looking back... but we have another similar hopefully not worse situation now, here at 2020... the people feel the same way again

[@danielottenwalder3945]

I wonder where the q&a participants are today

[@davidallen8611]

was this recorded on razor phone?

[@y5mgisi]

I like listening to Charlie, at least as much as Warren.

[@etfeddiecrosley92]

(2010) Says "he'll be 87 in January, if he makes it" fast forward 2022 still rockin' it 😆 OG

[@VinhNguyen-kq8jg]

Wonder if there is a transcript for this talk?

[@asonyutonny7635]

There people God should give a special privilege to live forever.. Charlie should be one of them.

[@edingilic8046]

Mr. Munger is so far ahead of his time. GO BLUE! 💙💛

[@steviemccallum]

Great video. Thank you for sharing.

[@user-uj8hn4gf9g]

Its many decades ago . What we need to be mindful of

[@logtothebase2]

listened, still speaking.

[@jonnes__4657]

Love Becky, love Charlie, but why there is no information when this was recorded ?? .

[@user-km3hv8qo9p]

It was recorded late 2010 or early 2011 I believe. Someone cited sept 2010 which is likely.

[@soljaboys2]

what does charlie munger think of vanadium redox flow batteries, for energy storage?

[@NickAzar]

"People Starving in the dark, that's what communism will do for you"

[@fawa.z]

But there’s China

[@Lerppunen]

Abdulla Fawaz China only started developing once they allowed foreign investments and private ownership of capital goods.

[@carsonmills8228]

@@fawa.z yes China has had the biggest famine of any nation Mao killed more than hitler ever could. They’ve now adopted capitalism please learn a tiny bit.

[@Stewiehleba]

Most of the Soviet block had better nutrition than comparable capitalist countries. Just fyi

[@Blessed.90]

What a strong message!

[@elvisdouglas3581]

Charlie would be an amazing president if that was is goals with that said we can learn so much from is wisdom. I'm a better person from is knowledge. Thank you so much.

[@brianburkie7516]

When exactly was this filmed? In the middle of 2008? Or slightly later.

[@jimtwisted1984]

Brian Burkie 2010

[@joeybasu516]

"What we have is WAY better than nothing."

[@mspiggymarketing396]

Study the life and writings of Lee Kuan Yew. You did answer the question sir. Singapore is a beacon of hope to all nations that seek rightness and goodness. 😀

[@NoLikeNoSub]

Legend.

[@FrankGarcia24]

So much straight forward wisdom from this guy! What is the word he says at about 26:00: "If you think the accountants failed poorly?.....Washington set a new record. I have a rule for politics, which has served me well in making predictions. And that I "_____" to you. The politicians are never so bad that you don't live to want them back"

[@DreuxDunit]

"Quick claim"

[@TheFinancialDev]

"quick claim", he does tend to mumble his voice sometimes; but I guess that'll happen when you're 90! 😂😂😂

[@joeybasu516]

Personally, it's ironic to hear Mr. Munger talk about the lack of atonement from the accountant "adults who could have fixed it," or from "idiots & knaves selling shoddy mortgages on ridiculous theories;" because it was the 2008 real estate crisis which sparked my interest in going to b-school in the 1st place. As a bartender living in Santa Monica, CA at the time, I'd seen about half of my clients have their lives wiped out. I just wanted to be a part of keeping that from happening again.

[@vincentmurphy9252]

must watch

[@harshitmalhotra4845]

“I mean the groupies have followed me here” 😂

[@0x12d3]

begins in earnest at 8:30

[@bovinebear2979]

I wish someone would transcribe this whole video.

[@Historyteacheraz]

Lots of great advice and insight. A Teenager’s Guide on how to Invest Like Warren Buffett and Charlie Munger is a great book for those who want to learn more.

[@danielhenry253]

26:16 "Politicians are never so bad you don't live to want them back."

[@GrumpyCat-mw5xl]

If this talk was given today it would all be the same 10/23/21

[@rwaanabarnes7166]

Love his candor. So crazy to think that his uncle struggled but my family literally couldnt even live in glendale or even get that drafting job or own real estate in that "family system"

[@alicestewart5453]

I like that story about the man who no one will talk to you after New Year’s of clean house which I like all your stories though

[@DexterHaven]

34:43 Charlie's heart doctor must have told him not to look at Becky's legs, just to be safe.

[@erich9779]

And why is that?

[@DexterHaven]

@@erich9779 Don't play dumb. Or maybe it's not an act in your case. Maybe you did the best you could.

[@erich9779]

@@DexterHaven ok im more confuse now and less confuse when I didn't ask the question 😂

[@ronit.pereira7172]

1:18:44 The best part

[@ablphbt]

Starts at 8:11

[@benjaminkoontz7798]

I am 29 and I have a long way to go

[@kurtneven6612]

Respect Charlie ✌️

[@dewinmoonl]

Guy was investing in BYD 12 yrs ago. That's insane foresight

[@aliqazilbash5231]

well investors who cannot relate to the management are inherently dispassionate towards the internal dynamics or culture of a company. instead they care more about the "ratios" that can reduce all complexities down to things like growth rates, return on investment etc..

[@rosss6617]

I love you old timer …

[@rosss6617]

Met many girl was light to do different things How do you understand anything this going on

[@putinsgaytwin4272]

No excuses

[@whartanto2]

mmm, listening the answer to the last question from Singapore; it is interesting to say the least :)

[@ruatapungawhare-pounamu4050]

Really good conversation.

[@booneguy]

Charlie - The Most Complete Aggregation of Encyclopedias.

[@Value_Pilgrim]

Starts @8:14

[@Sills71]

The main problem is using up hydrocarbons too fast.... that was 2011 and in 2020 that looks wrong... oil is $40 a barrel. Seems like we have enough oil.

[@fawa.z]

Overdosed on lMathematics.... love that

[@supreetsingh6038]

1:17:51 - Does anybody know what charlie means by "you will end up like me"

[@AFMEGAT]

can hear everytime he gulps

[@clausvind8010]

Lots of fertilizer is produced using hydropower (Norway makes somethin like 2 Million tons/year )