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TIP482: How Warren Buffett Became the Greatest Investor to Ever Live (Part 1)
We Study Billionaires - The Investor’s Podcast Network
Investing Philosophies and Principles
Munger admired Buffett's freedom and financial independence, aiming to emulate it through a different investing approach. While Buffett followed Graham's conservative investing style, Munger focused on investing in great companies with strong management and durable brands, departing from Graham's pessimistic approach. Buffett cautioned against Graham's cigar-butt strategy, highlighting the importance of investing for the long term. He emphasized the significance of time in investing, stating that great businesses benefit from it while mediocre ones suffer. Although diverging from Graham's approach, Buffett never forgot the key principle Graham taught him.
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