Clap hands, here comes Charlie! Brilliant advice and philosophy from one of the greatest investors and philosophers of all time. Watch the videos, listen to the Psychology of Human Misjudgment and get Poor Charlie's Almanack. You will never think narrowly again!
You must understand the Chinese culture. Chinese people are heavily influenced by Confucianism. Chinese people are proud, and believe Chinese markets should be primarily operated by the Chinese. The Chinese won't let you own their businesses outright. You may own a piece of the business, but rarely will you be a foreign majority stakeholder. You can be foreign and run your own business in China. However, if it was originally a Chinese creation it'll stay that way like Chinese art. China doesn't see business as pure profit, but as a way of life that leaks into other facets of life. Thus, China is leery of allowing too many outside influences own businesses in their country. Munger & Buffet actually respect the Chinese, and what they've done from an ethical and business standpoint. Thus, why they don't own many businesses in China.
Yes and yes. It's a huge book. I may be biased - so feel free to check the reviews! We sell it unsigned, signed, and also Seeking Wisdom from Darwin to Munger and I want to know Where I'll Die. And Buffett's Few Lessons. Please email us at infinitedreamspublishing@gmail.com if you would like any at better prices than you will find on online shops, even better than our own ebay store prices, thanks. Please state your country and city so we can calculate shipping correctly. Ian
Long term investing is for those who's objective is to be financially independent rather than just earning some quick bucks ..and more over one must have patience and "rationality" while holding the companies ... patience means ability to sustain even though trading at a loss and abilty to maintain even though there is a profit ..but never sell the best businesses quickly
What a guy. He is simply fantastic. Charlie Munger is a great human being. Charlie Munger should replace that clown Donald Trump as the president of the United States and relationship between the USA and China will turn out to be a positive and friendly one.
Great video, hate the guy constantly going "mhm" every time he understand a coherent word. I'm trying to focus on the flow of his presentation and it throws it off, as I pay attention to if people talk or respond and to what they were acknowledging. Maybe I should take this audio and do some signal processing on it just to get the guys audio out lmao.
Seems like Charlie let his guard down a bit. Usually is a bit up tight. I’ve enjoyed reading books about him and learning his investment and life philosophy.
So honest, pretty accurate too. Surprised someone hasn’t called his pragmatism, racism yet. Being in a humanities degree it always surprises me that post modernist always him ha about western culture being inadequate and that we need to change. Yet the sciences have seemed to get along with the east for quite some time.
@@Lifeissimplebro : Bullshit. Buffett would do very well with or without Munger. On the contrary, Munger would not have done half as well without Buffett.
19:21 “Warren said he can understand consumer-electronics better than he can understand computer science.” Why can’t Warren Buffet understand computer science?
That's not something he studies and probably not something he sees much value in studying. He's an investor and a businessman. He majored in business administration for his bachelor's degree and got a master's in economics. He's not a guy to focus on the hard sciences as much.
Nice speech bt why he underestimates the power of speculation. Many traders like ray dalio, Paul tuder earned short term money. Perhaps long term investing is his style bt he can not undermine other side
Very interesting take on the adoption of Chinese girls. I'd never think of it as having an indirect marketing tool. Obviously that's not the original intent. Far from it. But for it to have such an externality, that's rather fascinating.
This single lecture is worth much more than whole MBA program in finance... absolute gold...
Listened to it twice. Amazing wisdom... love Munger 🙌🏻
Loved it, I listen it every month
"Rationality is the single most important thing"
So stay away from women.
SeouL So much better than a lot of the trendy entrepreneurs these days in many ways.
Great photo
Thank you so much for this. Was this the complete interview or was there a remaining section left? If so, would you be able to upload it?
This contains all Charlie’s words. None missing.
IDP Thank you for your prompt response. I wish there was more as Munger’s words contain numerous gems. Thanks again!
Clap hands, here comes Charlie! Brilliant advice and philosophy from one of the greatest investors and philosophers of all time. Watch the videos, listen to the Psychology of Human Misjudgment and get Poor Charlie's Almanack. You will never think narrowly again!
SIMPLY GENIUS...
Yep! I'm a fan of Elon/Tesla too, nice profile pic!
Can anyone tell me which book is he refering to??
Waiting for u
really cool Kat
Loved it genius Munger!
I hope my noggin is still firing that well at 94
So what does'nt Berkshire own any Chinese companies?(other than BYD)
Munger and Buffett probably have some of their own money invested.
Berkshire Hathaway has to wait for huge companies before buying .
You must understand the Chinese culture. Chinese people are heavily influenced by Confucianism. Chinese people are proud, and believe Chinese markets should be primarily operated by the Chinese. The Chinese won't let you own their businesses outright. You may own a piece of the business, but rarely will you be a foreign majority stakeholder. You can be foreign and run your own business in China. However, if it was originally a Chinese creation it'll stay that way like Chinese art. China doesn't see business as pure profit, but as a way of life that leaks into other facets of life. Thus, China is leery of allowing too many outside influences own businesses in their country. Munger & Buffet actually respect the Chinese, and what they've done from an ethical and business standpoint. Thus, why they don't own many businesses in China.
Because right now they are overpriced.
Now Munger is 19% in BABA
Petro China
Munger even said long term is better than day trading
Great to hear his humor & intelligence.
Did anyone of you read "poor Charlies Almanack"? Is the price worth it?
Yes and yes. It's a huge book. I may be biased - so feel free to check the reviews! We sell it unsigned, signed, and also Seeking Wisdom from Darwin to Munger and I want to know Where I'll Die. And Buffett's Few Lessons. Please email us at infinitedreamspublishing@gmail.com if you would like any at better prices than you will find on online shops, even better than our own ebay store prices, thanks. Please state your country and city so we can calculate shipping correctly. Ian
What is your opportunity cost? Can you think of ANYTHING better to spend money on than Charlie Munger?
It's well worth it in my eyes. Excellent book.
The price to usable wisdom ratio is ridiculous good value. If you enjoy his gems he drops in interviews you'll find more than a few in the book
100%
Long term investing is for those who's objective is to be financially independent rather than just earning some quick bucks ..and more over one must have patience and "rationality" while holding the companies ...
patience means ability to sustain even though trading at a loss
and abilty to maintain even though there is a profit ..but never sell the best businesses quickly
We’ll said
Another reason why the Chinese like Munger and Buffett, is that they are super rich, and brilliant investors. Chinese admire successful investors.
And this is why I'm heavy on nio and alibaba
What a guy. He is simply fantastic. Charlie Munger is a great human being. Charlie Munger should replace that clown Donald Trump as the president of the United States and relationship between the USA and China will turn out to be a positive and friendly one.
Nobu Francis he actually supports trumps attack on China... it’s about time we even it out. China has been taking advantage of the US
Priceless!!!!!! munger
Which book related to Munger and/or Buffett did the Chinese like?
The Chinese edition of the Almanack
Such a great clip. Do you know the source of the thumbnail image?
In the Almanack. Contact us if you require one. Sometimes we have signed copies too. infinitedreamspublishing@gmail.com
Great video, hate the guy constantly going "mhm" every time he understand a coherent word. I'm trying to focus on the flow of his presentation and it throws it off, as I pay attention to if people talk or respond and to what they were acknowledging. Maybe I should take this audio and do some signal processing on it just to get the guys audio out lmao.
👍👍👍👍👍🙏🙏🙏🙏🙏
RIP. Mr.Munger
Great
At the same time, value investors should take advantage of the irrationally of the Chinese stock market
Of course I would! Instantly
Seems like Charlie let his guard down a bit. Usually is a bit up tight.
I’ve enjoyed reading books about him and learning his investment and life philosophy.
name of book?
2021 alibaba
Value investment guru!
So honest, pretty accurate too. Surprised someone hasn’t called his pragmatism, racism yet. Being in a humanities degree it always surprises me that post modernist always him ha about western culture being inadequate and that we need to change. Yet the sciences have seemed to get along with the east for quite some time.
11:00
The man
12:30 “Human nature and a big bureaucracy makes bad decisions.”
Its awesome listen to him, so much wisdom y his mind
Aula
☺☺☺☺☺
Sounds like buffet
Yep they are besties
He is Buffet's advisor.
We changed.
Because the world changed.
Railroads changed.
Airlines changed.
Consumer electronics changed.
Munger made Buffett
Agree
@@Lifeissimplebro : Bullshit. Buffett would do very well with or without Munger. On the contrary, Munger would not have done half as well without Buffett.
Carlos de Souza Buffet in one of his annual meetings said there is Charlie without warren but no warren without Charlie
This is gold, glad we have Li Lu in China
4:33 Basically the Mungers have three stocks! Berkshire, Costco, and lay lose (sp) partnership...”
John Paradise the 3rd one is Li Lu partnership
And their partnership with Li Lu.
If everyone followed his advice, I’d have a much more difficult time getting rich.
there’s people who don’t possess wisdom, then there’s people who do but aren’t wise. There are a very few who are wise in their actions.
19:21 “Warren said he can understand consumer-electronics better than he can understand computer science.” Why can’t Warren Buffet understand computer science?
That's not something he studies and probably not something he sees much value in studying. He's an investor and a businessman. He majored in business administration for his bachelor's degree and got a master's in economics. He's not a guy to focus on the hard sciences as much.
Because he is 90 years old.
Charlie loves that money li lu made him
Nice speech bt why he underestimates the power of speculation. Many traders like ray dalio, Paul tuder earned short term money. Perhaps long term investing is his style bt he can not undermine other side
He can undermine the other side though. His way is so much better and so much more rational. Investment v.s. speculation.
Very interesting take on the adoption of Chinese girls. I'd never think of it as having an indirect marketing tool. Obviously that's not the original intent. Far from it. But for it to have such an externality, that's rather fascinating.