"The big money is not in the selling, it's the waiting while you own it," says Warren Buffett. "Never underestimate the power of the market to be irrational", he adds. 'You just sit there and you ow, much better than trying to be super clever'
“It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.” — Charlie Munger
Munger is the Vice Chairman of the world’s greatest compound interest machine: Berkshire Hathaway, Inc.
During the time of his and Warren Buffett’s reign as the leaders of Berkshire, the company has returned roughly 2,000,000% on its initial value. It’s safe to say we can all learn a lot from Charlie Munger.
Today’s episode of InvestED is a favorite from the vault, where Phil and Danielle explain some of their favorite Charlie Munger quotes and cover how so many Rule #1 principles are based on his teachings.
Get inspired to invest like some of the world's greatest investors, Charlie Munger and Warren Buffett, with this free guide: https://bit.ly/3wGZz3T
Topics Discussed:
- Charlie Munger
- Rule #1 Investing Principles
For show notes and more information visit www.investedpodcast.com
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