Charlie Munger: 'Business schools teach a lot of things we don't believe'
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- Опубліковано 27 вер 2024
- Warren Buffett and Charlie Munger answer three questions from a shareholder at the 2001 Berkshire Hathaway annual meeting.
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Who’s been binge watching everyone of their videos 🙂
all the poor people like myself, lol
@@ghalibkhan80 no, we are the inspired ones 🙌
Doing it almost everyday 😂
They are very insightful
Reporting for duty
"If you can't value a business, you can't value a stock" Truer words have never been spoken!
Happy 90th to my man Warren Buffett🎈
They're the best duo in investment of all time. They're like rock stars!
Warren gets the media attention, but Charlie is a true gem as well.
90% Of the work in Valuation of a great business is looking at their financial statements and their management, the rest 10% is Intrinsic value, Industry Valuation, Economy Valuation.
It's shocking how many people continue clueless as to what Buffett does even after all these decades and for as many times as he repeats it and repeats it and repeats it. The skills necessary for determining the value of a business one can get with an accounting degree while MBA's are largely advanced degrees in time-wasting. Business valuation one can teach one's self.
Hi, I'm in my mid 20s and only just began to familiarize myself with the world of investing. What would be a great resource to teach oneself how to valuate businesses? I've been reading a lot from finance/investing websites like Investopedia and have been getting a taste for the lingo and terminology, but I still feel that I lack a more fundamental understanding. Any good books/websites/other resources you might recommend to a layman like me? I'm looking to seriously build my investing acumen/business knowledge on the side even though my main career pursuit isn't business.
@@americanchunk7456 Hey even I am new to the investment world but I would like to suggest you to read The Intelligent Investor with Jason Zweig commentary ... Trust me this is the best book to explain the simplicity and philosophy of value investing.
@@shriaunshbahirat639 Hey thanks for the recommendation!!
@@americanchunk7456 Read One up on Wall Street by Peter Lynch. It is the best book out there on stock investment.
Teach me
The way that business schools and large corporations have a zeitgeist that favours popular decision-making over correct decision making is something that I only fully understood after buying my own business.
By simply doing obviously sensible things over time I ended up with a business that generated so much cash that our first bank told us that it no longer wanted our business because they suspected we were a money-laundering front! In a notoriously competitive low margin industry, we generate returns that are so high that they beggar belief. At the time it seemed that I overpaid when I paid $1.4m for a business that was making $300k per annum in 2017. Now, in 2023 it is on track to make $900k, with ultra conservative accounting. It almost feels unfair competing against people who follow the orthodoxy.
reading the owners manual....what a guy
Valuation is the most important thing in business and trading. How else can you know when to buy and sell? Almost as important is what other people THINK the value is.
Wow!, well said. I am an MBA graduate. I too realized that No School/college has Investment related subjects. All they have leadership/management & accountings.
Answer comes at 5:40 and following
“Finance teaching is in general in this country kind of pathetic" - Warren Buffett
I wouldn’t be surprised that it’s the same for different fields; that absolute experts find the teached material pathetic
TWO SMARTEST GUYS IN THE 🌎 WORLD...👍
Its funny how at the meetings everyone tries to ask questions related to economic predictions, maybe mentioning a company or two and only the stock price of that company. If you listen, warren has to formally and cleverly answer the question from a business owner perspective. Its hard to identify if your not listening properly,
Listening properly. I'm willing to learn. Tell me more.
Charlie's facial expressions!!
not a bad physics theory actually.....depending on how deep the dive is
Bruce who? What s the name of the teacher mentioned by warren?
Bruce Greenwald at Columbia
@@davidschmidt5507 thanks!
Li Lu isn't impressed with Bruce's class at Columbia.
So you mean I was better off with saving those tuition fees for Oxford in 2012 then?
I Can Name One💯
To say that you know something when you really don't is the greatest downfall of our civilisation.
1:31
"finance teaching in this country in general is kinda pathetic" oof, bomb shell dropped by Warren
May I ask a Question to Mr.Warren Buffet, would you kindly tell me " how i can improve / develop my economical position, i am Bangladesh, my name Shahalam, i am now in UAE, house kipping company, otherwise i Have paid USD 3000 to Mr. Robert Coryell. Thanks and Have a good day every one.
Hello, this is Warren speaking. If you send me $1000.00 I will make you very rich.
Study human psychology and change your map of the world. Read Charlie’s books
I don't think Charlie Munger has ever NOT been the smartest person in the room. He has a mind like a steel trap.
Obviously he should be driving a Brinks truck
😂😂😂
If I had a quarter for every time I've heard finance professors whine about their salaries. Don't they know how to invest their money?
A lot of modern writing on economics is garbage, drivel. A constant theme of CM is opportunity cost. You have to go back to classic scholarship to understand this. And you must understand what words, and concepts, really mean. Do you?
Again. This is old shit. Do current events.
I, for one, appreciate that this "old shit" is made available on UA-cam, as it gives perspective on the mind of two of the best investors in history. Obviously, you're free to limit yourself to the current events and trends, many of which will indeed define the future of the world, and many of which will prove to be the latest bullshit fashion that will lure thousands and then will be forgotten. But there's one thing I don't understand: if you want current events, why are you even clicking on an obviously-old video? Dude, blame yourself, not the one who posted it.
Buddy this old shit is valuable gold. Maybe if you’d listen and learn how to really value businesses you’d be more appreciative that there even are recordings from these two geniuses. Go to a Reddit forum I think you’ll find there what you’re looking for
Doesn’t matter; it’s timeless
blessed to be alive in their time
we missed graham and dodd, but we can see buffet and munger live
💯 I graduated from a business school while working full-time during the day in Mergers & Acquisitions. I had to explain to some professors several times why their textbook theories don't work in the real world and what actually does. I learned too late that school itself is a business and their goal is to "put buts in the seats" because that's what brings in the money. 💯
How many years you spend on business schools
@@aymaneunitedstate5544 too many
@@WHITELIONNYC 😂 😂😂
@@aymaneunitedstate5544 💯...have a blessed life. 🙏🏻🙏🏻🙏🏻
You are precisely correct!
To be honest, i'm happy that business schools around the world don't teach about how to value a business. I am investing in stocks and have made quite a handsome sum of money because i know how to value a business and invest strategically. My friends who do not know how to value a business are losing all their hard earn money in the stock market. Thankfully very few people know about stock market investing.
How did you learn that?
what stocks would would you recommend starting with? thanks god bless
hahahahha bro literally. people talk about the most complicated bullshit jargon to try prove that 'o he doesnt know what he's talking about' but these same people have no idea what a balance sheet is? like literally run a business for urself ull see bigger businesses are the same. it's all the balance sheet:how much profit how much can the business expand how much debt. literally that simple
Best valuation books?
Shutup you knob
How do you value a business? I've not gone to business school, or any school for that matter.
If you understand how you get BUSINESS CONSULTANTS straight outta college and other older ones with NO TIME in business.... there's a video on it but it's a DAMN JOKE of an industry.
Buffet and Charlie did de MBA
Warren Buffett doesn't buy stock frok stock market that's the first thing people should know, he purchase stock from via dark pool and bulk trading which a retail investors cant do.
You can get bogged down in concrete and cement.
7:30 to 9:00
Heavy and has airbags: two consideration when buying a car.
Most of the things thought in business schools regarding investing, is twaddle.
I wonder what their opinion of Wharton is?
Playing around with numbers or greek symbols of some sort,lol, boomer ! What gonna happen to alpha,beta, sigma, gamma ,rho,and allllll😂😂😂😂
Quantitative investment is good, but know about alpha, beta etc its not neccessary. If I have 100m$ i will earn more than you just uaing DCA strategy. The secret of investment is simple just having a lot of money, and use value investment strategy. Thats all. No need to bet on derivatives.