Charles Munger: A Parody About The Great Recession

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One of the best articles ever written about the ‘Great Recession’ is Charles Munger’s – Parody Describing The Contributions of Wantmore, Tweakmore, Totalscum, Countwrong, and Obvilious To The Tragic ‘Great Recession’ in Boneheadia and The Thoughts of Some People Relating To The Disaster. While the entire article is six pages … Read More

Charles Munger: The Trouble With Economists & Economics

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Some years ago Shane Parrish at Farnam Street did a podcast in which he read the full text of Charlie Munger’s presentation – Academic Economics: Strengths and Weaknesses, after Considering Interdisciplinary Needs. It’s a must listen to for all investors. Here’s an excerpt from Munger’s presentation: 3) Physics Envy The third … Read More

Charlie Munger: Moral Investing – We Could See It Was Like Putting $100 Million In A Bushel Basket And Setting It On Fire As We Walked Away

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Here’s a great video with Charles Munger and Warren Buffett at the 2005 Berkshire Hathaway shareholder meeting in which they discuss the moral distinction between buying a stock and a company. Here’s an excerpt from the video: CHARLIE MUNGER: Yeah. I think he’s asking in part, are there some businesses … Read More

Charlie Munger On Telsa and Elon Musk

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We’ve just been watching a great recent interview with Charlie Munger in which he was asked his thoughts on Telsa and Elon Musk. Here’s his response: Munger: Well it’s already created more significance than anybody would have predicted and its founder is bold and brilliant and swings for the fences. … Read More

Charles Munger: “If You Won’t Attack A Problem While It’s Solvable And Wait Until It’s Unfixable, You Can Argue That You’re So Damn Foolish That You Deserve The Problem”

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While not specifically an investing book, The Art of the Good Life: Clear Thinking for Business and a Better Life, by Rolf Dobelli provides some great lessons for investors. There’s one passage in particular titled – Reality Doesn’t Care About Your Feelings; or, Why Every False Step Improves Your Life – which basically says … Read More

Charlie Munger: The First Rule Of Value Investing

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Here’s a great interview with Charlie Munger and Yahoo Finance Editor-In-Chief Andy Serwer. During the interview Munger discusses the first rule of value investing: Value investing has changed over the years, but the fundamental way its disciples think about it hasn’t, according to Berkshire Hathaway (BRK.A, BRK.B) vice chair Charlie Munger. … Read More

Charlie Munger: The Stock Picking Industry Is Four Or Five Percent Super-Rational, Disciplined People, And The Rest Of Them Are Sort Of Like Faith-Healers Or Shamans

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One of the best resources for investors are the Daily Journal Annual Meetings chaired by Charles Munger. During the 2015 Annual Meeting Munger was asked the following question regarding indexing and what it might lead to: “Indexing has grown a lot in the last thirty years or so as a form … Read More

Charlie Munger: The Parable Of Basicland

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Several years ago, Charles Munger wrote a great piece called – Basically, It’s Over – A parable about how one nation came to financial ruin. Munger provides a cautionary warning through the story of a fictional place called ‘Basicland’. A large, unpopulated island in the Pacific Ocean that is rich in … Read More

14 Of Charlie Munger’s Funniest Quotes

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Charlie Munger is known for his quick wit and sense of humor, and one of the best sources of Munger’s humorous quotes is Poor Charlie’s Almanack. Here are fourteen of Munger’s funniest quotes from the book: 1. I’d rather throw a viper down my shirt front than hire a compensation … Read More