Charlie munger - Caltech 2008 DuBridge Distinguished Lecture in Beckman Auditorium

[@sfeler]

This is the first old man I know that really represents what a man becomes if he lives his life avoiding contradictions, consciously educating himself and learning from every step he made. I don't think his economic vale will ever reaches his human wealth.. Is funny that this knowledge is available for all mankind, and at this moment has less that 70k hits.

[@DaviMourao]

And sadly there will be no fancy biography or movie about him and whenever asked most people will reply with a "who?"

[@andresjimenez3811]

Sad so sad. People would rather watch cat videos.

[@FRNKNSTNmusic]

He’s going to blow up and be mainstream very soon. The rise of short vids is literally perf for his nuggets and the market is hungrier than ever for this.

[@felixcoello1401]

@@FRNKNSTNmusic a goodJ ii

[@felixcoello1401]

@@FRNKNSTNmusic ke

[@Hrboegh]

Charlie munger is such a hidden gem. Truly inspirational.

[@TheMarketsLive]

+Bøgh Charles is not a "great wise value investor", he piggybacked on Warren. Fooled by randomness into thinking he is an investor. Pure dumb luck of course.

[@Monopolist91]

@@TheMarketsLive tell that to the Wheeler Munger Partnership and Wesco Financial.

[@TheFreeBull]

08:22 - Relationship with Warren Buffett 09:15 - Humility and Edge of Compentency 11:40 - Common Sense 13:14 - Inversion 14:54 - Multidisciplinary Thinking and Collecting Good Ideas 18:24 - Occam's Razor 19:22 - Charlie Munger's Journey in Psychology 23:24 - Solving Problems With Mental Models xxx 25:45 - Supply and Demand (watch till the end!) 30:24 - Can we fix social sciences? 33:24 - Linearity vs. Non-Linearity 35:28 - Accepting for the obvious 38:21 - Insurance business / Derivatives / risk management 39:54 - Munger Explains Financial Crisis of 2008 46:58 - The Problem with Academics 47:41 - Charlie Munger on Sigma/Luck 48:41 - Educational System in the USA (The price the USA will pay will be huge) 54:52 - Ben Franklin Story 55:35 - Jared Diamond Book - Collapse 57:36 - Are we destroying ourselves? 59:15 - Jared Diamond Book - Guns Germs and Steel 1:01:01 - Capitalism in China/Good genetics of the Chinese 1:04:33 - Nobel Laureate Story (True Story) --- Audience Questions --- 1:15:42 - Negative Lolapalooza effect on the Stock Market 1:21:25 - Best experience for students to become a great investor (Generalist competency, collect follies) 1:22:10 - Berkshire doesn't compete with China 1:24:01 - Investing with Macro-economics 1:25:44 - Best advice for a new investors 1:28:54 - Bribe - Should companies sponsor China? 1:32:10 - Charlie Munger gives example of investment by using mental models and lolapalooza effect 1:33:36 - Biggest concerns in the future? 1:38:10 - How to act decisive when seeing oppurtunities? 1:39:50 - Budgetting for cities or foundations 1:42:10 - Incentives for multidisciplinary succes

[@YG-kk4ey]

Thank you

[@amirjon]

One of the most brilliant minds of our time.

[@alexjusty]

Caltech removed this video from their website for some reason. But ITune U has the audio version. But it has edited Charlies' comments comparing Sicilian blood to Chinese blood :) . I always prefer Charlie without any edits.

[@TheLazyGamer42]

thank you for sharing this with the world. yes i appreciate munger without a filter as well! so far i havent heard him say anything too outrageous and even at times when he does say something outrageous, he does so to make a meaningful point.

[@l.s.754]

Charlie was brilliant. He is the map of intelligence. If you want to get from point A to point B in life. Follow that "MAP" which is the mind of Charlie Munger. May his soul be content, where ever it is. Love you Charlie.

[@celiaferreira2028]

A billionaire that served during war. His words are genuine. Gen Z& Millenials....this is what a real man looks like. The asap digital millionaires don't understand this gem...❤❤❤❤❤much respect. Thanks for serving our country.

[@CPowles13]

This is great. "Think about it for a while, because you're smart and I'm right." :D

[@TheMarketsLive]

+CPowles13 Charles is not a "great wise value investor", he piggybacked on Warren. Fooled by randomness into thinking he is an investor. Pure dumb luck of course.

[@christiaannagel]

I would give anything to play a round of golf with Charlie.

[@art-543]

安息 伟大的投资者。你的文章和讲话在中国很多人看过

[@nathanboublil]

I think it s a shame for caltech to edit any of it. They should not censor anything

[@tendokanyike8858]

As always with Charlie, this was too good.

[@nmarbletoe8210]

his take on the derivatives is 100%

[@SharingInvestingWisdom]

The wit and wisdom of Charlie Munger

[@WillsThoughts]

Amazing technique of Inversion 14:00 to 15:00 ish

[@TheSolidsnake2001]

Thanks for posting this!!!

[@packrcch]

do you notice how much his voice resembles warren buffet ? if they were behind a curtain I could not tell if it was munger or buffet….

[@nathanboublil]

Thanks a lot for posting this!

[@biondanishgenomeinstitute8193]

Introduction by Peter Sellers.

[@karlbooklover]

Anyone knows the name of the book about the work of Pavlov?

[@goingintherain]

Tks for posting this

[@Pablo123456x]

starts at 8:30

[@lindaw140]

Common sense. Big ideas of cross discipline, humble, no scandal of women. Yale English Department comment.

[@rishabhbhatia1344]

How can i get access to the science DVD shared in the end of video ?

[@truckso2pl]

Does anybody know what Charlie thinks about book "Human Action" by Ludwig von Mises?

[@TheMarketsLive]

+truckso2pl Charles is not a "great wise value investor", he piggybacked on Warren. Fooled by randomness into thinking he is an investor. Pure dumb luck of course.

[@jessesewell7922]

Good question.

[@aaryanmehta4609]

@@TheMarketsLive Well, you have been fooled by randomness into thinking that. So naive xD

[@swapanjain892]

Voice sounds similar to warren.

[@billmoyer3254]

ancient Greek retroductive reasoning

[@HansJuergen18]

What is he saying at 18:30? Sounding like "... theresa"?

[@pauljames2017]

UtzelBrutzel Ocham's Razor

[@cjljianlang8240]

VICARIOUS EXPEREINCE OF OTHERS 9:21 My Greatest Mistake(Condescending Know It All) 10:11 Why We Do Better Than Wall Street(Edge Of Competency) 10:45 Not A Competency If You Don't Know The Edge Of It UNCOMMON SENSE 11:41 Common Sense Misinterpration 12:08 Real Defintion Operate Over A Broad Range Of Subjects Without Mistakes Dr Davis Example INVERSION 12:56 Purpose-Avoid Folly 13:20 Question-7 Own Children Could Not Do It PHD Physicist Could 14:34 Took Him 15 Seconds Identify Folly And Avoid It MAN WITH A HAMMER VS MAN WITH MUTIPLE FORGES 15:08 Big Ideas With Instructive Power Multidisciplinary Collect Folly 17:05 Synthesis-Less Crowded Mental Role 17:51 Other People 18:08 Approximation VICARIOUS MENTAL FORGE*LOLLAPALOOZA TENDENCY 18:25 Occam Razor 18:50 Einstein Collaroy Everything Should Be Made As Simple As Possible But No More Simple 19:28 Supplement In Messy Social Science If The Result You Are Seeing Is A Lollapalooza Look For A Confluence Of Multiple Causes 19:56 Developed From Moonies Brainwashing Vicarious Mental Forge* MAN WITH A HAMMER VS MAN WITH MUTIPLE FORGES WAH CHANG 20:20 No Answers In Academia Pavlov Stress Misinfluence Tendency 20:40 Stress Horrible Personalities Reversed 21:24 Psychology 101 21:50 6 Of This Psychology Tendcies With Pavlov Stress 22:29 Results 22:52 If You Grab The Big Ideas In All The Big Disciples By Definition You Are A Man With Multiple Tools 23:13 Results Less Likely To Commit The Inanity(Foolishness) Twist Every Problem Into A Nail MAN WITH MUTIPLE FORGES EXAMPLE 24:20 Benjamin Franklin Multidisciplinary Mostly Psychological Insights MAN WITH A HAMMER-SOCIAL SCIENCE 25:20 START 25:36 Where Do Laws Of Chemistry Not Apply Hot Plasma 25:45 Business School 26:10 Raise The Price Sell More Unit 26:34 1 In 50 Get The Answer MAN WITH A HAMMER VS MAN WITH MUTIPLE FORGES-SOCIAL SCIENCE 27:10 Raise The Price Example 27:35 Sold More Leaving A Lot Of Money On The Table 28:22 Raise The Price Bribe The Purchasing Agent 28:47 Title Insurance Loaded Mutual Funds Defence Contracting 29:05 Huge Part Of Capitalism MAN WITH MUTIPLE FORGES-Learing Social Science 29:28 If You Don't Have A Brain That Don't Automatically As This Things Pop Into It You Haven't Really Assimilated Social Science 29:46 Won't Get You The Many Millions Good Investment Results 29:57 If You Don't See How This Things Work And How They Interplay 30:07 The Way To Get The Competency Adopt The Necessary Elements And Practice Using It Over A Considerable Period Of Time On A Considerable Area Of Complexity* MAN WITH HAMMER-SOCIAL SCIENCE INANITY 30:25 Can We Fix Social Science 31:07 Liberal Arts Will Become Multidisciplinary 31:42 English Department Of Yale 32:20 Extreme Craziness In A Lot Of Liberal Acts 33:58 Social Science Non Linearity PHYSICT VIEW 34:56 Results MAN WITH MUTIPLE FORGES Don't Placer Mine(Calculate) Pick Up Boulder Of Gold(Common Sense) 35:32 Thomas Hunt Mogan 36:04 No Calculator 36:29 Placer Mining 36:55 That's What I Have Done With My Life 37:29 Walking By The Boulders Of Gold Calculate Too Much 37:50 Keynes Better To Be Roughly Right Precisely Wrong INANITY-MARKET-DERIVATIVES SEWAGE 38:46 Insurance-Fincial Product 39:04 Insurance Company Insured Only That Island 39:43 Like Wall Street 39:55 Created Things So Complicated No One Can Understand 40:50 Unetical INANITY-MARKET-IMPLICATIONS OF DERIVATIVES SEWAGE 41:29 Hurricanes-Financial Heavy Wind 42:21 Good Until Reached For 43:00 Going To Be Like That Hurricane Insurer INANITY-ACADEMIA-PUBLIC-ACCOUNTANT-GONVERMENT IN DERIVATIVES TRADING 43:18 Same As Liberal Arts Professor 43:50 Loans To Despipable People 44:40 Accountants Are Despicable 45:10 Academics Did Not Criticize 45:16 Gonverment 200 People Overseeing Fannie And Freddie 30 Billion Miscalculated Earnings INANITY-ACADEMIA 46:07 PHD Does Not Mean Wise 46:39 Stupid Accounting 47:05 Inventor Of Black-Scholes 47:42 Stanford Six Sigmas Of Luck 48:21 People Laughed So He Stopped If Not 9 Sigmas INANITY-ACADEMIA-EDUCATION 48:43 Caltech Education 49:02 Not Chevrolet Formula Ones 49:38 Failed Education Central Part Of Big Cities 50:03 Bright Ones Leave To Suburbs 50:16 5 Million Of The Best Leave Of The 22 Million West Germany ANITY-CALTECH 51:15 Good Quality Students Good Quality Teacher 51:28 Less Asinine 52:24 Admirable 54:25 Glass Harmonica 54:52 CM On Benjamin Franklin NUCLEAR INANITY 55:31 Jared Diamond Collapse 56:12 Oppenheimer 56:50 Soviet Union? No Livermore MAN WITH A HAMMER 57:48 Every Biologist Carrying Capacity Of Land 58:00 Every Economist Compound Interest 58:30 Lack Of Synthesis Supply Of Coal Infinite 59:00 I Am Not Inventing This Collection Of Inanity INANITY-ACADEMIA-Genetic Difference Of Intelligence 59:24 Guns Germ And Steel Main Point Was Wrong 1:00:09 Dogs Too 1:00:30 Self Serving Bias Jared Diamond 1:00:52 Don't Acknowledge Look With Detestation 1:01:35 Selective Breeding Chinese 1:02:14 Psychogical Denial Cardfight Vanguard 1:02:56 New Factions 1:03:45 Vampire Economy 1:04:03 Chinse On Average Better The Jewish Mystique 1:04:35 William Shockley 1:05:01 Good Genetics Yes But Cultural Decline Global Warming 1:11:00 Not As Bad As Al Gore Thinks 1:11:29 Asinine Solution 1:11:50 Corn Into Motor Fuel 1:12:09 Don't Account For Topsoil Global Warming-Man With Hammer 1:12:21 True Believer Can Cause Terrible Cause Of Miscognition 1:13:28 Good Reason Stupid Solution 2008 Financial Crisis 1:16:27 2008 Financial Crisis 1:17:08 Legislator Created Problems In The First Place Margin Loans 1:17:54 Class That Wanted Derivative 1:18:30 Human Nature Need Margin Of Safety Like Heroine To 14 Year Olds 1:19:15 Good Until Reached For 400 Million Berkshire Worthless 1:20:00 Vested Interest Prevent Regulation Warren Buffett AVOIDING FOLLIES 1:20:49 Why Do We Repeat The Same Follies Over And Over LIFELONG LEARNING 1:21:38 General Competency In Words And Numbers And Quantities And Concept Than PRATICE Collect Follies Stay Away From The Follies DO NOT ASUUME THAT JUST BECAUSE A BOY HAS PASSED HIS O LEVELS THAT MAKES HIM BRIGHTER A BOY OR A GIRL IS WHAT HE OR SHE IS 1:22:20 Reality Chinese Average Better 1:23:40 Anyone Smart Enough To Gradate From Caltech With PHD Does Not Need Advice From Me 1:25:03 Can't Tell You How To Get Rich With Soft White Hands INVESTMENT ADVICE 1:25:47 Best Advice For Investor 1:26:19 Investor Perspective Reality Better 1:26:50 Might As Well Get Rich 1:27:04 Collect Follies 1:27:28 Margin Of Safety Benjamin Graham Engineering MAN WITH MUTIPLE FORGES 1:28:10 Try To Figure Out How They Relate To One Another It Is Not Compartmentalize 1:30:53 Falun Gong Nutcase(TRUE BELIVER) 1:32:10 Integration Of Ideas 1:32:41 Some Ideas Are So Simple 1:33:22 Knack Of Using The Knowledge You Have 1:34:40 Man Is A Very Clever Creature 1:35:29 Best Mathematician In Last 100 Years INANITY-DOMESTIC-GEOPOLTICS 1:36:25 Scared Cow With Hormones 1:37:10 I Think The Folly Of Man Is Up To Some Extreme Things 1:37:34 Wooden Guns Amercia Ill Prepared 1:37:56 Dumb Luck Hitler Irrational Born WITH IRREVERANCE 1:38:30 Looking For Truths 1:38:58 Developing A Knack For This 1:39:15 Inherited Disposition 1:40:16 Town 10000 People Self Serving Bias Poltician 1:41:11 Auction Off Tomorrow 1:41:42 Entitlement DO BOTH MAN WITH A HAMMER AND MAN WITH MUTIPLE FORGES 1:42:14 Speclization Vs Multidisciplinary 1:42:59 Colon Cancer Example 1:43:29 Issac Newton 1:43:55 Plenty Of Time To Do Both Will And Technique 1:44:35 Most People Are Happy In The Shallows Theres Always Someone Shallower

[@WillsThoughts]

LOVE THIS

[@YAPSS]

this is so good

[@investireocaminho33]

Genius!

[@Pythonizah]

1/50 represent

[@antoniolloyd2908]

9:50 humility

[@FRNKNSTNmusic]

Book recs are for cult members only 😭

[@lindaw140]

He thought there is institutional problem unpopular tough subjuct . Social science was taught twisted ideas. It takes unusual person to change or solve this

[@candyfloss184]

40 minutes onwards

[@nmarbletoe8210]

yup that's the good part. "deeply immoral"

[@tomdallas3690]

Imagine how many people this interviewer tortured with his horrificly lame stories and anecdotes through the years. What a shame.

[@idkmax5977]

36:49 For my convenience

[@caucasianafrican1435]

The guy asking the question @1:09:52 . Can't some people go one day without going into their political dogma.

[@idkmax5977]

For my convenience

[@DavidTinxLall1978]

✒ #hello 😀

[@matimandambha9468]

25:45 - 28:50

[@caucasianafrican1435]

the guy asking the question @1:07:00 was insufferable. Thanks for the LONG BORING question.

[@chocolatier9597]

1:39:43 🤣

[@idkmax5977]

15:39

[@MuratDagcan]

Lewis Angela Johnson Jeffrey Walker Joseph

[@davidallen8611]

the interviewer talked way too much!

[@nbme-answers]

the ego is always bigger than the man

[@tomdallas3690]

He sucked

[@tonywalton1052]

1:01:01 - Good genetics of the Chinese before the Woke culture

[@tomdallas3690]

Almost every questioner who gets in front of Munger, and also Buffett, bores us all with long-winded moronic questions. Shut up.

[@nathanboublil]

Can the french guy at the beginning learn how to speak english properly pls?

[@diegowaahere]

+Nathan Boublil Lets see you speak french.

[@joshbloomfield7335]

+diegowaahere I'll gladly learn to speak French when I reside in a French-speaking territory. When they choose to reside in an English-speaking territory, I would expect them to appropriate themselves properly with English.

[@vvenkat111]

touche ha!

[@phoenixhorus5032]

Why? He sounds so classy! :)

[@tomdallas3690]

Nothing worse than long introductions before an anticpated speaker is heard. Those in academia are mostly losers.

[@medi7710]

I find Charlie biased and somewhat emotional here, contrary to what he has preached. If wealth alone is an indicator of success, he's not that successful anyway and that sort of explains it.

[@achintsingh3384]

He’s not that successful? What is wrong with you?

[@TheMarketsLive]

Charles is not a "great wise value investor", he piggybacked on Warren. Fooled by randomness into thinking he is an investor. Pure dumb luck of course.

[@mr6462]

You sir are salty

[@lioneldsouza3093]

+TheMarketsLive You must be wiser than Warren Buffett! Cause even Warren, how wise and smart he is, hasn't noticed that Charlie has been piggybacking off of him. But you seem to have from just watching this video. Pure genius, you are!

[@michalpetras984]

+TheMarketsLive I have never heard such a silly opinion about Charlie. He is a genius behind.

[@harrywong4094]

He was a great investor before he teamed up with Buffett. Take a look at the Super Investor article.

[@FighterFlash]

Bahaha I know what you majored in!!!

[@MichaelThomas-wh4fr]

I think it s a shame for caltech to edit any of it. They should not censor anything