i wasn't thinking of the right time frame. I should have been thinking much longer and just go through those valleys. All you have to do was buy it at the lowest pointe was classically lucky, no doubt about it. And i think that's a really big challenge to say, like, ok, i'm going to sit here and watch everything my own drop when i could have done something about it.
“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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