"The one thing is decide what the one most important thing in your life is and do that, and make sure that it happens," he says. "Most of the time, the one thing is something that is important, but not urgent." He recommends doing this on a very regular basis to avoid getting distracted by other things.
“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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