InvestED: The Rule #1 Investing Podcast
449- Charlie
Dec 20, 2023
In this episode, Phil and Danielle reflect on the impact and contributions of Charlie Munger, a magnanimous figure in the financial world. The hosts discuss Munger's aphorisms, the concept of EBITDA, and the Modern Portfolio Theory. They also share resources like Li Lu's eulogy for Munger and the autobiography of Yogi. Bid farewell with mention of a virtual workshop.
27:23
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Quick takeaways
- Charlie Munger's principles of understanding businesses, competitive advantages, management integrity, and reasonable pricing continue to guide investment practices.
- Charlie Munger's teachings emphasize the importance of aligning with talented and trustworthy management, seeking a margin of safety when determining investment prices, and valuing simplicity and clarity in investing ideas.
Deep dives
Remembering Charlie Munger
In this episode, the hosts reflect on the passing of Charlie Munger, discussing the impact he had on their lives and the investment community. They share personal stories of their encounters with Charlie and the profound wisdom he imparted. They highlight his unique perspective on various topics, including his blunt and straightforward remarks on Bitcoin, crypto, CEO pay, and more. They explore how his principles of investing, focusing on understanding businesses, durable competitive advantage, management integrity, and a reasonable price, continue to resonate and guide their own investment practices.
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