A Tribute to Charlie Munger | Life Lessons From an Investing Legend (TIP598)

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4 ай бұрын

Clay shares a tribute to Charlie Munger since we just crossed what would have been his 100th birthday on January 1st, 2024.
Charlie Munger was vice chairman of Berkshire Hathaway, the conglomerate controlled by Warren Buffett. Buffett described Munger as his closest partner and right-hand man. At the time of his death, Munger had an estimated net worth of $2.6 billion.
Charlie has had an enormous impact on the value-investing community, and this episode is dedicated to him to honor his contributions to the community and his worldly wisdom.
IN THIS EPISODE YOU’LL LEARN:
- The importance of simplicity in investing and life.
- The three foundational principles of how Buffett and Munger invest.
- Why Charlie focused on minimizing standard stupidities to win in life.
- How Munger used his setbacks in life as opportunities to learn and grow as an individual.
- Munger’s thoughts on the shortcomings of GAAP accounting.
- The tremendous importance of incentives.
- Munger’s lessons on living a meaningful and fulfilling life.
- How Charlie helped Warren Buffett become a better investor.
- An overview of Charlie’s investment in Costco and his admiration for the business.
- The top investment lessons from studying Charlie Munger.
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▶️ RELATED EPISODES:
- Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis: • Celebrating Charlie Mu...
- Mental Models For Investing & Life | The Worldly Wisdom of Charlie Munger: • Mental Models For Inve...
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📖 BOOKS MENTIONED:
- Seeking Wisdom by Peter Bevelin: amzn.to/3tKMWX5
- The Dhandho Investor by Mohnish Pabrai: amzn.to/41KHUXl
- Poor Charlie’s Almanack by Charles T. Munger: amzn.to/47fHskY
- The Joys of Compounding by Gautam Baid: amzn.to/41LsBOf
- Where the Money Is by Adam Seessel: amzn.to/41KIg07
- The Richest Man in Babylon by George S. Clason: amzn.to/3vfYhPk
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Пікірлер: 16

@WeStudyBillionaires 4 ай бұрын

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@nikoshin3351 4 ай бұрын

Pour out a little liquor for the OG Charlie Munger

@dragonchii 4 ай бұрын

Invert, always Invert! See you in heaven homie.

@Allen_Leigh_Canada 4 ай бұрын

Simplicity, Inversion, Incentives, Patience, Waiting, Long-term, Compounding, Quality, Controllable/Uncontrollable.....

@CP-wo4ou 4 ай бұрын

Another great episode Clay. Well done 👍

@WeStudyBillionaires 4 ай бұрын

Glad you enjoyed it! 🙏

@UrbanJournal 4 ай бұрын

Extremely well done Clay. Great job of summarizing in an hour what really is a lifetime of wisdom we’ve all received from Charlie. As much as we appreciate him now, I think we’ll appreciate him even more 30 years from now. Rest peacefully, Charlie.

@WeStudyBillionaires 4 ай бұрын

Thank you so much!

@davorsostaric 12 күн бұрын

What is the stock you own and where talking about?

@jimjackson4256 4 ай бұрын

The problem with the fed ex example is if they are paid by the job then they can go home then the job would naturally increase to fill in all the time.