Basic Ways to Build Wealth and Career Advice from Charlie Munger

Don't buy too much, avoid debt, increase income. Find a game where you have an advantage. Quality relationships matter. Munger's investment approach: not buying and selling often.

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Episode notes

IN THIS EPISODE, YOU’LL LEARN:

05:54 - How Warren Buffett and Charlie Munger met.
07:07 - Why it’s important to embrace lifelong learning.
09:27) - Why Charlie Munger uses mental models to think and invest.
00:15:53 - How Charlie Munger changed Buffett’s investing strategy.
20:47 - Why we should continuously challenge and reexamine our worldview.
29:22) - Why Munger concentrates his personal investment portfolio.

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members.
Learn about the best investor you’ve never heard of – Nick Sleep.
Check out Clay’s Intrinsic Value Analysis of Dollar General & Apple.
Listen to Clay’s previous episode covering Warren Buffett’s 12 Investment Principles.
Check out Poor Charlie’s Almanack.
William Green’s book – Richer, Wiser, Happier.
Follow Clay on Twitter and Instagram.

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