We’ve just been watching Tom Russo’s recent talk to the folks at Google. Just at the end of his presentation (52:39) Russo recalls a great story about Charles Munger getting a bit peeved when he was questioned by a member of the audience at a Wesco annual meeting about why … Read More
Charlie Munger: The Importance of Planck Knowledge or Knowledgeable Investing
Warren Buffett has often been quoted on the importance of knowledgeable investing and equally important – knowing what you don’t know. Two of his most famous quotes on the subject are: “What counts for most people in investing is not how much they know, but rather how realistically they define … Read More
Charlie Munger: “Why Were Warren Buffett And His Creation, Berkshire Hathaway, So Unusually Successful?”
Last week the Daily Journal held its 2018 General Meeting chaired by Charles Munger. One of the key takeaways for us as small investors was when Munger said: “I do think that a very smart man who’s patient and aggressive in combination, is willing to work hard, to root around … Read More
Charles Munger: How Do You Learn To Be A Great Investor
One of our favorite investing books here at The Acquirer’s Multiple is – Damn Right: Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger. One of the best passages in the book covers Charlie Munger’s response to, “How Do You Learn To Be A Great Investor?”. Here’s an excerpt from the … Read More
Charlie Munger: How To Value A Business Or Company
One of the best resources for investors are the Daily Journal Annual meetings chaired by Charles Munger. These meetings are full of valuable investing insights for investors. One example is the 2016 Annual Meeting in which Munger was asked, “What do you use to value a business or a company? … Read More
Charlie Munger – How To Dramatically Improve Your Financial Results
Here’s a great passage from the book – Damn Right: Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger, in which Munger illustrates how your financial results can be dramatically improved by being prepared, on a few occasions in a lifetime, to act promptly in scale, in doing some simple and logical … Read More
How To Invest Like… Charlie Munger, Warren Buffett’s Right-Hand Man
Here’s a great article at The Telegraph discussing one of our favorite value investors here at The Acquirer’s Multiple, Charlie Munger. The article provides some great insights into Munger’s relationship with Buffett, his investing strategy, and his ten point investing checklist. Here’s an excerpt from that article: The world’s most famous … Read More
Charlie Munger – How Can Professional Investors, With Thorough Analysis, Continue To Underperform
Here’s a great presentation by Mohnish Pabrai to the folks at Google. During the presentation Pabrai relays a story about a time he had dinner with a small group at the home of Charlie Munger. During the dinner Munger posed a question to the group: Why did the ‘best ideas … Read More
Charles Munger – “I Didn’t Mean To Get Rich I Just Overshot” + “Bitcoin is Total Insanity!!”
We just watched an awesome interview with Charles Munger at The University of Michigan 2017. The interview is a fantastic insight into Munger’s journey though life and his career. Two of our favorite parts are when Munger talks about the role of luck in investing, and his thoughts on Bitcoin. … Read More
Buffett & Munger – The ‘Eureka Moment’ For Two Of The World’s Greatest Investors
It seems that all of the great investors have a ‘eureka moment’ during their investing careers. A ‘eureka moment’ refers to the common human experience of suddenly understanding a previously incomprehensible problem or concept. Sometimes referred to as an ‘Aha’ moment. And so it was two of the world’s greatest … Read More
Lynch & Munger – Becoming A Better Investor Requires Thinking Outside Of Investing
A lot of investors believe that the more you can learn about investing and investing techniques the better you will be as an investor. A typical value investor might spend time studying the fundamental assumptions and approaches to value investing, techniques for assessing fundamental value – balance sheet and earnings … Read More
Superinvestors Agree That Business Schools Don’t Make You A Better Investor
While a lot of investors believe that a good finance course at one of the world’s most prestigious business schools is a sure-fire way to becoming a better investor, it seems that some of the greatest investors disagree. Here’s what Buffett, Munger, Greenblatt, Pabrai, and Lynch have to say about … Read More
Warren Buffett – Mistakes of the First Twenty-Five Years
One of the best resources available to investors are the Berkshire Hathaway shareholder letters. One of my personal favorites is the 1989 letter in which Warren Buffett wrote a piece called – Mistakes of the First Twenty-five Years (A Condensed Version). It’s a great insight into how even the greatest investors … Read More
Charlie Munger – Successful Investing Is About Being ‘Non-Idiotic’
One of the best resources for investors are the Daily Journal Corporation shareholder meetings chaired by Charlie Munger. My personal favorite is his 2015 meeting in which he discusses Darwinism, Henry Singleton, human nature, and what he learned from Einstein. But there’s also a wonderful insight into how he was able … Read More
Charles Munger – 5 Ultrasimple Notions For Successful Investing
One of my favorite investing books is – Damn Right: Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger, by Janet Lowe. The book is a great insight into Munger’s life, philosophy, and investing journey. One passage in the book which is of particular interest to investors is Munger’s five ultrasimple … Read More
Charles Munger – Big Gains Invariably Mean Long Periods Of Underperformance
Let’s face it, most investors are not prepared to go through long periods or short periods of underperformance in order to achieve outperformance. The only problem with that is that those investors will invariably miss out of the big gains achieved by the most successful investors. The good news is … Read More
Charlies Munger – The Ultimate Investing Principles Checklist
As an investor it’s important to remember that there is no secret formula or simple blueprint for success in the stock market. However, with hard work, patience and diligent analysis you can put the odds in your favor. One of the best starting points for a successful journey in investing can … Read More
Is It Better To Buy The Stock And Watch The Price Drop Or Not Act And Watch The Price Soar? – Daniel Kahneman
One of the most common predicaments facing investors is that they’ve analysed a stock, it meets with the investors criteria, and now it’s time to pull the trigger and buy the stock. But something happens, the investor ums and ahs and delays the decision to buy. Next thing you know three … Read More
Great Investors Create Their Own Version Of Omaha – Buffett, Munger, Klarman, Pabrai
One of the biggest problems facing investors is the amount of ‘noise’ that we get from the financial media and commentators. Financial news sections, the internet, and podcasts are continually bombarding us with the latest ‘hot stock’ or miracle investing strategy. Meanwhile investors get caught up in the noise checking … Read More
25 Timeless Investing Lessons From Charles Munger
One of our favorite investors here at The Acquirer’s Multiple is Charles Munger. Over the years Munger has provided us with a number of investing gems and one of the best sources of Munger’s quotes can be found in the book – Poor Charlie’s Almanack. While there are hundreds of Mungerisms … Read More