A Lesson On Elementary, Worldly Wisdom As It Relates To Investment Management & Business – Charles Munger, USC Business School, 1994
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A Lesson On Elementary, Worldly Wisdom As It Relates To Investment Management & Business – Charles Munger, USC Business School, 1994
There are two pieces of advice I typically give to students who are in their final year of college. This may come as strange advice from someone who majored in electrical engineering and got a PhD in math modeling of computer security, but I first tell students I encounter to spend the remainder of their time in college filling their minds with the
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We can spend years trying to figure out how Buffett achieved his investment returns: how he found the best companies, the cheapest stocks, the best managers. That’s hard. Less hard but equally important is pointing out what he didn’t do. He didn’t get carried away with debt. He didn’t panic and sell during the 14 recessions he’s lived through. He d... See more
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What separated the good from the great investors had little to do with their analytical tools but a great deal to do with how they made decisions.
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Charlie Munger says the first rule of compounding is to never interrupt it unnecessarily. But how do you not interrupt a money plan—careers, investments, spending, budgeting, whatever—when what you want out of life changes? It’s hard.