Sagway: You don't have to be brilliant, only a little bit wiser than the other guys on average, for a long time. Sagway: If all you did was get four of those, right, you'll be very rich. He said it would slow you down and woul cause you to make a lot more careful purchases. It means it's going to work out to make you wealthy. But you've got to start doing this now, and you just keep doing it, and you'll be wealthy.
“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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