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TIP598: A Tribute to Charlie Munger
We Study Billionaires - The Investor’s Podcast Network
The Inspirational Story of Charlie Munger
Charlie Munger went through a series of devastating events, including a divorce, financial loss, and the tragic death of his son. Despite these hardships, he faced his challenges, and later in life, overcame a horrific operation that left him blind in one eye. His story serves as an inspiration for resilience and the ability to overcome adversity. Munger's perspective on focusing on what can be controlled in life, rather than on what cannot, provides a valuable lesson in dealing with challenges. Applying this idea to investing, Munger emphasizes the importance of focusing on controllable factors such as entry price, choice of companies or funds, business models, holding period, fees, and diversification, rather than on external factors like market fluctuations or the actions of others.
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