Charles Munger – It Is Ridiculous That Investors Cling On To Failed Ideas

Johnny HopkinsCharles Munger Comments

In 2003 Charles Munger gave a great talk to the students in the Economics Department at The University of California. While his talk focused on the strengths and weaknesses in teaching academic economics he also provided a number of great lessons for investors including the importance of being able to destroy your own wrong ideas. Here’s an excerpt from that speech: Clinging to failed … Read More

Charlie Munger – Great Investors Must Be Able To Adapt To A Changing Business Environment

Johnny HopkinsCharles Munger Comments

Earlier this year Berkshire Hathaway Vice-Chairman Charlie Munger was interviewed at the 2017 Daily Journal Annual Meeting. Munger spent time answering questions on a number of subjects including deferred gratification, polymath, filial duties, and the psychology of human misjudgment. The breadth of his knowledge is quite astounding. While the interview is full of investing gems, Munger was asked a question regarding … Read More

How To Develop A Superinvestor Mindset Like Buffett, Munger, Neff, Loeb, Lynch and Soros

Johnny HopkinsCharles Munger, Warren Buffett Comments

One of my favorite investing books is How To Think Like Benjamin Graham and Invest Like Warren Buffett, by Lawrence A Cunningham. One of the best pieces in the book looks at the principles applied by some of the greatest superinvestors of all time. Here’s an excerpt from the book: The best investors employ a mind-set that takes account of just … Read More

Charles Munger: The Investing World Is Just A Morass Of Wrong Incentives, Crazy Reporting, And A Fair Amount Of Delusion

Johnny HopkinsCharles Munger Comments

During Saturday’s annual Berkshire Hathaway pilgrimage, Warren Buffett and Charlie Munger once again challenged the value of hedge funds and their managers. During the meeting Buffett said, “The huge money [in hedge funds] is in selling people the idea that you can do something magical for them”. Munger added, “The investing world is just a morass of wrong incentives, crazy reporting … Read More

Warren Buffett – How Charlie Convinced Me To Break My Cigar-Butt Investing Habit

Johnny HopkinsCharles Munger, Warren Buffett Comments

(Image Source, Huffington Post, http://www.huffingtonpost.com/john-g-taft/the-warren-buffett-effect_b_5577685.html, [Accessed 9 Feb, 2017]) One of our favorite investors at The Acquirer’s Multiple is of course Warren Buffett. As a value investor, one of the most important free investing resources is Buffett’s Berkshire Hathaway shareholder letters. Each contains hidden gems of value investing wisdom. One of my favorite gems is in the 2014 shareholder letter in which Buffett explains … Read More

Ken Shubin Stein – Follow Munger’s 3 Ways To Find Good Opportunities

Johnny HopkinsCharles Munger, Ken Shubin Stein Comments

One of our favorite investors at The Acquirer’s Multiple is Ken Shubin Stein. Ken Shubin Stein is the Founder and Portfolio Manager of Spencer Capital Management and the Chairman of Spencer Capital Holdings. Spencer Capital is a value-oriented investment management firm with a successful long-term track record investing in undervalued securities and special situations. He is also an Adjunct Professor … Read More