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: Successful Investing Using Organized Uncommon Sense
In a recent interview titled – Inner Conversations with the Titans, Charlie Munger, Stewart Resnick, and Dick Ridordan sat down with Dr Sabrina Kay to discuss life, wealth, and the future. During the interview Munger was asked how he makes successful investment decisions. Here’s an excerpt from the interview: Q. … Read More
Charles Munger: Top 10 Holdings (Q1 2020)
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: Classical Moats Are Rapidly Disappearing
During the recent Daily Journal annual meeting (2/12/2020), Charles Munger was asked about the impact that technology is having on traditional moats. Here’s the question and his response: Question: I have a question for you related to technology. There is this common sentiment that technology is both accelerating the pace … Read More
Charles Munger: Daily Journal Annual Meeting 2020: Fish Where The Fish Are, And That’s Not The U.S!
This week Charles Munger spoke at the Daily Journal Annual Meeting 2020. During the meeting Munger was asked a question from our very own Bill Brewster, co-host on the VALUE: After Hours Podcast with Tobias Carlisle, and Jake Taylor. Here’s Bill’s question: (50:37) Bill Brewster: Mr Munger, Bill Brewster here … Read More
Charles Munger: The Overarching Problem With The Money Management Industry
During the 2003 Berkshire Hathaway Annual Meeting, Munger and Buffett discussed the overarching problem with the money management industry, and why it’s impossible for most money managers to succeed. Here’s an excerpt from the meeting: CHARLIE MUNGER: Yeah. We have this simple, old-fashioned discipline, which Warren likens to Ted Williams … Read More
Charlie Munger: “I Don’t Like Even Looking For Exits. I’m Looking For Holds”
During the 2019 Daily Journal Annual Meeting Charlie Munger made some great admissions about his inability to successfully exit stock positions saying: “I don’t like even looking for exits. I’m looking for holds.” He was asked the question: Question: How do you think about downside protection and how do you know … Read More
Charles Munger: Q4 2019 Top 10 Holdings
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: Q3 2019 Top 10 Holdings
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: Don’t Invest Like A Lemming
Here’s an excerpt from the 2008 Berkshire Hathaway Meeting in which Munger and Buffett discuss how not to invest like a lemming, saying: WARREN BUFFETT: So with that, we’ll go right over to post number 1 and start in with the first question. AUDIENCE MEMBER: Very good morning to Mr. … Read More
Charles Munger – Top 10 Holdings Q12019
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: Great Investors Remain Rational, Objective, and Dispassionate
Here’s some great Charlie Munger quotes from the book Charlie Munger: The Complete Investor, by Tren Griffin. Munger is highlighting the importance of investors remaining rational, objective, and dispassionate: Rationality is not just something you do so that you can make more money; it’s a binding principle. Rationality is a … Read More
Charlie Munger: An Idiot Could Diversify A Portfolio!
Here’s a great excerpt from Charlie Munger’s Daily Journal Meeting earlier this year in he discusses why portfolio diversification is completely unnecessary. He illustrates the point with a great real-life example saying: The idea of diversification makes sense to a point if you don’t know what you’re doing and you … Read More
Charlie Munger: The Two Markets That Are Most Inefficient
Here’s a great excerpt from Whitney Tilson’s notes on the 2007 Wesco Annual Meeting. During the meeting Charlie Munger provides some great insights on the growing popularity of value investing, efficient markets, and the two markets that are most inefficient: Is value investing becoming more widespread? I think our way … Read More
Daily Journal Corp (Charles Munger) – Top 10 Holdings Q2 2019
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: Great Investors Can Tune Out Standard Stupidities
In 2009 Charlie Munger did a great interview with The Stanford Lawyer. During the interview Munger discusses the skills of great investors, mistakes that he sees executives making, and the problem with banks increasing leverage in order to remain competitive saying. Here’s an excerpt from the interview: You’ve often said … Read More
Charlie Munger: How Do You Become A Better Investor
Here’s a great passage from Poor Charlie’s Almanac in which Charlie Munger provides some sage advice on how one can become a better investor saying: “How do some people get wiser than other people? Partly it is inborn temperament. Some people do not have a good temperament for investing. They’re … Read More
Charlie Munger: I’m Ashamed On Missing Out On Google and, Beware of IPO Unicorns
Here’s a great recent interview with Charles Munger and Andy Serwer at Yahoo Finance – Influencers. There’s one passage in particular in which Munger admits to being ashamed that he missed out on Google, and has the following to say about loss-making Unicorn IPO’s: “Well, there are a whole lot … Read More
Charlie Munger: Focus Investing – One Way To Beat The Market
One of our favorite investing books is Poor Charlie’s Almanack by Peter Kaufman, and there’s one passage in the book in which Charlie Munger explains how he and Buffett use ‘focus investing’ to beat the market, saying: “Our investment style has been given a name-focus investing-which implies ten holdings, not … Read More
Charles Munger: Here’s Why Investing Is So Much Tougher Today
Here’s a great recent interview with CNBC’s Becky Quick and Charles Munger discussing the difficulty of being an investor today, compared to when he and Warren started. Here’s an excerpt from the interview: Becky Quick: Charlie thank you very much for taking the time to sit down with us today. … Read More