During his fireside chat with Todd Combs, Charles Munger explained why there’s nothing mysterious about great investing. Here’s an excerpt from the conversation: Munger: You’ve got to remember that Warren made a lot of money running his Geiger counter over the ’30s. He’d find something selling for 1/4 of the … Read More
Warren Buffett: Interest Rates Power Everything In The Economic Universe
During the 2013 Berkshire Hathaway Annual Meeting, Warren Buffett explained why interest rates power everything in the economic universe. Here’s an excerpt from the meeting: WARREN BUFFETT: Well, it’s helped. You know it— interest rates are to asset prices, you know, sort of like gravity is to the apple. And … Read More
Warren Buffett: What Makes Charlie Munger A Great Partner
In his recent Berkshire Hathaway 2022 Annual Letter, Warren Buffett provided a list of some of the best thoughts from his partner Charlie Munger. Here’s an excerpt from the letter: Charlie and I think pretty much alike. But what it takes me a page to explain, he sums up in … Read More
Charles Munger: One Mistake That Cost Me $200 Million
During the 2001 Berkshire Hathaway Annual Meeting, Charles Munger discussed one mistake of omission that cost him $200 Million. Here’s an excerpt from the meeting: CHARLIE MUNGER: I don’t like mentioning the specific companies, because the — you know, we may, in due course, want to buy them again and … Read More
Charles Munger: I Haven’t Shorted Anything In Over 30 Years
During his recent DJCO Annual Meeting, Charles Munger explained why he hasn’t shorted anything in over 30 years. Here’s an excerpt from the meeting: Charles Munger No, I don’t short. I have made 3 short sales in my entire life, and they’re all more than 30 years ago. And one … Read More
Charles Munger: Invest 200% Of Your Net Worth If The Opportunity Is Great Enough
During his most recent Daily Journal Meeting, Charles Munger discussed why you should invest 200% of your net worth in a stock if the opportunity is great enough. Here’s an excerpt from the meeting: Well yes it’s true. I operated with no leverage for long stretches of my old age … Read More
Charles Munger: What Makes Li Lu A Great Investor
During the 2018 Daily Journal Annual Meeting, Charles Munger was asked about the talent of Li Lu. Here’s an excerpt from the meeting: Munger: The second question was Li Lu. What was unusual about Li Lu. Li Lu is one of the most successful investors. Imagine him, he just popped … Read More
Warren Buffett: The Stock Market Is The Most Obliging, Money-Making Place In The World
During the 2012 Berkshire Hathaway Annual Meeting, Warren Buffett explained why the stock market is the most obliging, money-making place in the world. Here’s an excerpt from the meeting: WARREN BUFFETT: Yeah. We’ve run Berkshire now for 47 years. There have been several times — oh, four or five times … Read More
Charles Munger – Top 10 Holdings – Latest 13F
One of the best resources for investors are the publicly available 13F-HR documents that each fund is required to submit to the SEC. These documents allow investors to track their favorite superinvestors, their fund’s current holdings, plus their new buys and sold out positions. We spend a lot of time … Read More
Charles Munger: Investing Firms Have Had Their Reputations Destroyed By Crypto
During his recent interview with CNBC, Charles Munger discusses how investing firms have had their reputations destroyed by crypto. Here’s an excerpt from the interview: Munger: It pains me that in my own country, I see people who were once regarded as very reputable people, helping these things exist, promoting … Read More
Charles Munger: A Good Business, But Not A Fabulous Business, Tends To Fall Into Two Categories
During the 2003 Berkshire Annual Meeting, Charles Munger discussed a good business, but not a fabulous business, tends to fall into two categories. Here’s an excerpt from the meeting: CHARLIE MUNGER: If you take a business that is a good business, but not a fabulous business, they tend to fall … Read More
Charles Munger: The Two Things You Shouldn’t Watch – Sausage Making & Legislation Making
During the 2010 Berkshire Annual Meeting, Charles Munger quoted Otto von Bismarck on the two things you shouldn’t watch – sausage making and legislation making. Here’s an excerpt from the meeting: WARREN BUFFETT: Everybody should read chapter 12. It’s a little — it starts a little slow in the first … Read More
Charles Munger – Top 10 Holdings – Q3 2022
One of the best resources for investors are the publicly available 13F-HR documents that each fund is required to submit to the SEC. These documents allow investors to track their favorite superinvestors, their fund’s current holdings, plus their new buys and sold out positions. We spend a lot of time … Read More
Charlie Munger: I Would Take An Axe To The Financial Sector
During the 2011 Berkshire Hathaway Annual Meeting, Charlie Munger explained why he would take an axe to the financial sector. Here’s an excerpt from the meeting: CHARLIE MUNGER: Yeah, the one place that I feel we’re making a huge mistake is not learning enough from the big mess that came … Read More
Warren Buffett: Why We Don’t Do More Due Diligence
During the 2016 Berkshire Hathaway Annual Meeting, Warren Buffett and Charles Munger explained why they don’t do more due diligence when buying companies. Here’s an excerpt from the meeting: WARREN BUFFETT: Yeah. I get that question fairly often, sometimes — often from lawyers. In fact, our own — we talked … Read More
Charles Munger: There’s A Lot Of Misery To Be Obtained By Misusing Stocks
During the 2015 Berkshire Hathaway Annual Meeting, Charles Munger and Warren Buffett discussed the benefits of value investing and the misery associated with misusing stocks. Here’s an excerpt from the meeting: WARREN BUFFETT: Yeah. There’s a certain irony, in that we will — we would — do the best, over … Read More
Charles Munger – Top 10 Holdings – Q2 2022
One of the best resources for investors are the publicly available 13F-HR documents that each fund is required to submit to the SEC. These documents allow investors to track their favorite superinvestors, their fund’s current holdings, plus their new buys and sold out positions. We spend a lot of time … Read More
Charles Munger: Inflation, Like The Weather, Should Be Largely Ignored
During his recent interview with AFR following his personal investment in Australian company Stonehouse Corporation, Charles Munger explains why inflation, like the weather, should be largely ignored. Here’s an excerpt from the interview: The business partner of Berkshire Hathaway chairman Warren Buffett, Munger’s investment philosophy is to look beyond the … Read More
This Is How Charlie Munger Negotiates With Large Insurance Companies
In the latest 2022 Berkshire Hathaway Annual Meeting, Warren Buffett recalls a story of how Charlie Munger negotiated with a large insurance company that had denied a small claim to one of his clients. Here’s an excerpt from the meeting: Buffett: Some employee stole like I don’t know twelve thousand … Read More
Charles Munger: Stocks Are Being Traded On A Casino Basis
In the latest Berkshire Hathaway Annual Meeting, Charles Munger discusses how stocks are being traded on a casino basis. Here’s an excerpt from the meeting: Munger: Well it happened, it’s almost a mania of speculation that we now have. We have computers with algorithms trading against other computers. We’ve got … Read More