24 Burst results for "Charlie Munger"

Here’s What Warren Buffett Says About The Coronavirus And His Outlook On Stocks

Motley Fool Answers

06:57 min | 6 months ago

Here’s What Warren Buffett Says About The Coronavirus And His Outlook On Stocks

"May kicked off with one of the biggest events of the investment calendar the Berkshire Hathaway annual meeting. Hey hurrah but instead of forty thousand people flocking to Omaha. Warren Buffett sat at a table in a near Empty Auditorium. Under did either of you watch it at all. It was kind of the surreal experience. Now I saw two seconds of it. I haven't gotten around to it but it is always. It still blows my mind. That forty thousand people go to Omaha just to maybe get a chance to see Warren Buffett. That's crazy and it's crazy that he can sit up there for that long and answer question after question after question now usually also joined by Charlie. Munger this year he was not instead he was joined by Greg able able. Who is the vice chairman in charge of all operate operate instead of Insurance? But it still went on for more than four hours. Wow I more than an hour was a presentation that he gave so I listened to the entire meeting. Impasse episodes I would. I've said that sort of my personal investing philosophy is be a short-term pessimist at a long-term optimist and that sorta seems to me was the message of the whole meeting so on the pessimistic side. They're clearly not doing anything you know. They've still kept most of their one hundred thirty billion in cash. He did not use the downturn as an opportunity to go on a buying spree. He essentially he likened previous downturns to train. That is slowing down. This time. He said we took the economic train off the tracks. And I don't know of any historical parallel in the range of possibilities on the economic side are still extraordinarily wide in other words. They're still sitting pat on what they're going to do. He also said quote. We have not done anything because we don't see anything that attractive to do. Heels actually spent a good deal of time talking about some of the past challenges and failings America's history so for example. He pointed out that. Despite the fact that we have a declaration of independence that claims that all men are created equal. When you look at the three point nine million people living in the original thirteen states and seven thousand nine hundred fifteen percent were slaves pointed out that during the civil war six percent of the male population between the ages of eighteen and sixty died. The twenty twenty equivalent of that would be four million deaths according to Warren Buffett and then it took one hundred thirty one years for women to have the right to vote at another sixty one years until a woman was appointed to the Supreme Court so we often talks about the long term success of America. He did spend a good bit of time talking about some of the things that we have not done so well. He spent a particular amount of time on going over the Great Depression I think partially because he was born in the middle of the Great Depression so he pointed out. It's September nine hundred twenty nine. The Dow was at three eighty one. Five hundred didn't exist back then so he just using the Dow and then in a little more than two months it was down forty nine percent to one ninety eight. You Move Ahead to August twenty ninth nineteen thirty. Which is the day before he was born. It was backed up to two forty so and it rebounded twenty percent. People have found that like okay. Stocks went down but there. They've gone back up back then. People were thinking that they were on the verge of the Great Depression. You go ahead less than two years to July thirty two. The Dow is down to forty one so from the peak went from three eighty one to forty one a decline of eighty nine percent and the Dow did not get back to its nineteen twenty nine peak until nineteen fifty four. Wow he did point out that people got dividends at back then. Dividends were higher but still price percentage the market was down for more than twenty years so buffet called the Great Depression a testing period. That caused some people that lose faith in America. I don't know if he was playing out to say like times ahead could be tougher than we think or just pointing out that America has seen worse times but regardless he says that anyone's going to lose faith in America that's a big mistake which brings us to his persistent message of being a long-term optimistic pointed out that despite all these challenges from seventeen eighty nine until today the wealth of the of the United States has grown five thousand percent and that's adjusted for inflation. He also pointed out that since the year he graduated from college in Nineteen Forty nine at the age of nineteen one dollar in the Dow has grown to one hundred dollars. So how do people benefit from what he calls the American miracle? Well as he often does and I think it's always interesting that he does this during the Berkshire hathaway annual meeting because it's an annual meeting of people who own individual stocks. He thinks the vast majority of people should just by an S. and P. Five Hundred Index Fund and. He mentioned that's what he does. That's what he has directed his will when he passes away swimming. He predeceased. His wife. Ninety percent of that wealth will go into an SAP hundred index fund. In fact one question asked about Berkshires underperformance as a stock. It's underperformed this year as well as the last decade a something. I know personally because I've owned Berkshire for more than a decade and he was basically said. I agree that that's an issue. He said that the truth is that I recommended. Sap Five Hundred Index Fund. To most people. And I happen to believe that Berkshire is about a solid is any single investment can be in terms of earning over time. But I would bet my life on whether we beat the sap five hundred over the next ten years so as always with buffet. It comes down to betting on America for the long term. But it's clearly means the long term to be like very long-term it mentioned the timeframe twenty to thirty years a couple of times the only truly positive thing he said about shorter timeframe at least that I can remember was in response to a question about whether Berkshire expect significant significant layoffs among its workforce which at this point. It employs almost four hundred thousand people in response. He said that some businesses will have to make adjustments. See's candies closed down. Nebraska Furniture Mart. Some of their factories may have issues. It's the funniest list of companies. I'm sorry Oh it's like it's very clean seas it's like what. Why Energy facturing? Yeah it's it's everything it's all these companies that you like. Yeah I think I've I think I've heard of Kim or have it at all. It's quite amazing. But well while he expects it some there will be have to be some layoffs. He doesn't expect them to be significant in that five years from now he expects Berkshire we'll be employing considerably more people so that to me says he expects five years from now. Things will fully recover and I think that's a reasonable timeframe. I certainly expected in five years. This time period will feel like somewhat of a distant memory. I certainly hope so But it's certainly possible that over the next year or two things could turn out to be pretty rocky

Warren Buffett America Berkshire Omaha Berkshire Hathaway Empty Auditorium Vice Chairman Nebraska Furniture Mart Munger Charlie Heels KIM Supreme Court Greg United States
Mastercard Names New CEO

Squawk Pod

00:55 sec | 8 months ago

Mastercard Names New CEO

"Some breaking news just in from Mastercard. The company says that Chief Product Officer. Michael me back is going to become the new. Ceo Next January first the Currency Agyei bound is going to be transitioning to the role of executive chairman at that time. Of course we should point out during. Oj's tenure that stock has increased more than fourteen fold prior to assuming the CEO role me box going to become the president of Mastercard. And that's going to be happening on March first. All of this comes of course. Just a day after mastercard warned that its revenue could take a two to three percent. Hit this quarter because of the corona virus. Some of the things that they talked about in that released last night That concerned the markets is not only a slowdown in terms of cross-border Travel that's taking place but also cross-border e-commerce people being afraid to even buy things and have it shipped here as well. You know you know the story of the stories in amazing storage. I mean his own personal stories in amazing story. But what's happened mastercard? Over these years is an amazing

Mastercard CEO Chief Product Officer Executive Chairman OJ Michael President Trump
How to Leverage Unfair Advantages in Your Marketing

Marketing School

05:01 min | 9 months ago

How to Leverage Unfair Advantages in Your Marketing

"Welcome to another episode of Marketing School. I'm Eric Su and I'm Neil Patel and today we are going to talk about how to leverage wjr unfair advantages in your marketing. So Neil what are some examples of unfair advantages. Sure unfair advantages is like Kylie Jenner really releasing Kylie caused medics when she already has a huge following and allows her to instantly become a billionaire but close enough in which I know. That's not Overnight success that's a overnight success ten years in the making it's more so she's able to leverage her brand and grow superfast or beats by dre leveraging aging all their celebrity connections to having them where their product and then apple ends up buying him out. But the list goes on and on. And you're seeing this kind of stuff in Seo Seo email marketing you know like people getting influencers in having him on their landing page giving testimonials which helps improve conversions. But there's a lot of ways that you can have have a unfair advantage over your competition. Yeah my opinion is if artists start all over today doing a business. I think it's most important to build an audience. I you know if I were starting. I'll all say look I gotTa Take Care of survival so maybe I might be working fulltime for a while so I gotTa Take Care of you know my my bill's GonNa take care of my food and everything like food and drink but once I got to think about okay how can I start building. My brand and example of this would be when I think about Jake and Logan Paul. They built their brand off off of vine. Initially and now they're superstars not only on they. They have like a huge volume. They have a huge instagram volunteers. All over the place so I think fundamentally you build the audience. I and that's how you build your unfair advantage and to Neil's point once you get your unfair advantage going. You're going to have a group of people that you can serve your audience and you figure out what they need and you can build around that where we can buy around that. But the unfair advantage is Warren Buffet and Charlie Munger always talk about the moat. I think when you look at Coca Cola is an example. Their brand is there moat right. That's what makes him such a good company yet and Eric's really spot on like a prime example of this is what with Uber suggests now Has Grown. I'm not saying it's the best APP or anything out there but the reason is also grown so fast because I had a huge brandon had such a large traffic traffic in the marketing SEO space. I probably in the digital marketing specifically space performance marketing. I probably have more traffic fake than anyone else. When you combine social and web like blogs podcasts all that kind of stuff yes there are Gary v's who have a huge audience but He's not necessarily in the performance marketing space. But when I did that and I ended up. Releasing Uber suggests I'm getting more monthly sign ups shorts free but but I'm still getting more monthly free sign ups than any of my competitors are even if they have a free version like sem rush. I'm still being an. I'm doing that without paying for ads. But it's because I built up millions and millions of visitors and followers over the years. The question than Neil is people are thinking okay. Look we're starting out right now. How do we build an unfair advantage? In how long did it take you to build your unfair advantage. You think like to get it to start to take off. It takes three plus years ears. You know I said it takes three years to do anything decency traction. You should see results within the first six months but really three years for anything to truly start taking off. It doesn't mean you'll get to where you want in three years. It just means us when it really starts taking off and what you'll find is the web already saturated. Yeah you already know yet to go Omni Channel. We've talked talked about this. But if I were you and your unfair advantage start off with the channels at your competitors. Aren't leveraging you know a lot of them aren't leveraging social platforms like tick tock yet and you you may say it's not a right fit for my audience that's fine. You'll also find that Lincoln's been around for a long time but very few. Your competitors are posting on there on a daily basis this or going live on Lincoln even though they have that feature and gets tons and tons of reach yet very little to no people are using that feature online. Did Yeah Awesome but also from my side is as I see that things are things from personal side. When I look at the twitter that I had in the past and my other channels I really wasn't touching it that much and I was kind of leading people? My team manage it but once I started to manage it. The engagement rates shot up. Because it's actually me talking and it's stuff stuff that I mean I post stuff that makes my blood boil right and I test different things. So keeping here is if you're building as your unfair advantage is starting to build. It's starting to snowball all you have to think about how you can also try to deals point earlier go a little Omni. Chen diversify a little bit and let the snowball continued to build. It seems like you might be losing focus there. But which if you had the same focus message across. Those shouldn't take you that long to repurpose it. And you see everyone starting to repurpose now. So everyone's doing it. Then you are not going to have advantage if you don't do it right so think about that as well

Neil Patel Eric Su Kylie Jenner Marketing School Lincoln Coca Cola Apple Instagram Gary V Warren Buffet Omni Channel Omni Twitter Charlie Munger Brandon Jake Logan Paul
"charlie munger" Discussed on We Study Billionaires - The Investors Podcast

We Study Billionaires - The Investors Podcast

03:59 min | 1 year ago

"charlie munger" Discussed on We Study Billionaires - The Investors Podcast

"And we're just going to jump right into this and we're gonna play the first question for you guys. My name is Feroze, and I'm from Mississauga in Canada. And now live in New York. My question is how to best emulate, your success in building your circle of competence, given the environment today, and investing is a lot more competitive than when you started out, what would you do differently if anything at all when building your circle, would you still build a very broad, generalist framework or would you build a much deeper, but narrower focus se on industries markets or even a country, and if so, which ones would interest, you? Thank you. We are riders is much more competitive. Now, when I started I literally could take the Moody's industrial manual, and I could go through page by page at least run my on my eyes over every company end think about which ones. I might think more about I would just do a lot a whole lot of reading I try to learn as much as I could about, as many businesses and I would try to figure out which ones I really had some important knowledge and understanding that was overwhelmingly most of my competitors. I would also try and figure out where which ones I didn't understand, and I would focus on having as big a circle as I could have an also focused on being as realistic as I could about where the parameters of my shirt of competence word, I knew when I met Lorimer Davidson, in January of nineteen fifty one I could get insurance what he said made so much sense to me in the three or four hours. I spent. With them on that Saturday. So I dug into it. I don't understand it. My mind work well, in that respect, I didn't think I could understand retailing all done. We've worked for same grocery stores at Charlie. And neither one of us that much about Ray touting except it was harder work than we liked and. You've got to do the same thing and you've got way more competition now. If you'll get to know even about a relatively smaller more than other people do and you don't feel a little compulsion to act, too often, you just, you wait till the odds are strongly in your favor. It's still a very interesting game is harder than it used to be. Well, I rate strategy early great Bassett humanity is to specialize. Nobody wants to go to a doctor that's half proctology and a half dentist. And the so the ordinary way to sixty eight is narrowly specialized Warren. I really didn't do that. And that and we didn't because we prefer the other type of actively, but I don't think we can hurt the other people, you know, it's response is like the one that Charlie monger, just had that just make you just smile and just love that guy. I mean I don't know how you can get funnier than him. I would just tell you that I think that the most important thing that they said in their response, and I don't know that they really knew how to how to answer the question to be honest with you. But I think that the most important thing that they said was you just have to be a knowledge pig. You have to be trying to improve yourself at any and all times. And if there's an area you don't know. Well, you gotta do things to try to learn it, better that doesn't mean that you become the resident expert in it. But you gotta get better at the things that you're that you're just weak at. And then the things that you have a natural God given talent for maybe you dig into it more to become just that much better than everybody else. I think that that's all they're saying here. But truly my big takeaway is you gotta learn learn learn these guys always had a book in their hand. They were always doing something to improve themselves. And for people that aren't intimately familiar with Charlie Munger, and Warren Buffett, I'd tell you, they study all the time, they're constantly trying to improve themselves, he no, I have a lot of sympathy for the guy asking the question..

Feroze Warren Buffett Lorimer Davidson Charlie Munger Charlie monger Mississauga Canada New York Moody Warren Bassett Ray four hours
Tiffany Shares Rise and Fall as Tourism Spending Declines

MarketFoolery

03:28 min | 1 year ago

Tiffany Shares Rise and Fall as Tourism Spending Declines

"We got weird stuff happening in the market today. Sure. Do I'm glad you you're going to explain what's actually happening with the various earnings that we have. I'm going to. We'll get to some retail get some cloud stores. Let's start with Tiffany. Shares of Tiffany are up five percent this morning and I really am not sure why their first quarter revenue was load their same store. Sales were negative five percent. That was basically three times as bad as analysts thought it was going to be why is this stock up? I think they must've said something in the conference, call that is not completely contained in the earnings report. And that's often the case because the numbers are not that good. And it's not as if there was some out expected, it, it's a company that's growing it sort of, you know, the rate of growth of the global economy, more or less. I think the initial pre market reaction was quite negative and was based in part on part of the quote that is early on in the report, which. Talks about a drop off a dramatically lower worldwide spending attributed to foreign tourists. Okay. So that dramatically lower or too bad words to put together in report, if you're in the business of selling anything, yes, but if you're explaining away something, and then in the conference call, you say something like oh, yeah. You know, the quarter ended at the end of April, and by the way, may looks really good, right? Yeah. I like that reversed itself. I don't know that that's the explanation there. But there was something to that, that, that, whatever the quarterly numbers were which if they stood on their own, you would sell and the market was selling pre market. There's a another part of the story, and at it's better than what is contained at the end of April. This is one of those stocks that at various points in time. Tiffany has been a great stock to own. But you look over the long term there, if, if your mindset when it comes to stocks is I'm looking to buy great business. It's the Charlie Munger lied and looking at by great businesses and sit on my, but I don't know that Tiffany certainly in the recent past has been one of those businesses. It's, it's basically Ben flat for about five years. Yeah, you should have gotten off your butt in about nineteen ninety nine I would say, because that's when the real surge in the price. It went up about four x from ninety eight ninety nine went from about a ten dollar stock to a forty dollar stock. And now it's ninety dollars stock and you've gotten some dividends in there. But twenty years, where it has done a little bit better than double is obviously trailing the market, and there are some peaks and valleys, where you could have time something over short period. Of time if you got into this stock like many others at the bottom in two thousand and nine you're happy. You're happy if you'd bought the other thing that you would bought at the very bottom of two thousand nine as well. And as you point out the last five years have been, you know, one step forward, one step back and not really a compounding effect if you'd gotten out oh about a year ago today. It'd be pretty happy.

Tiffany Charlie Munger Five Percent Five Years Ninety Dollars Forty Dollar Twenty Years Ten Dollar
"charlie munger" Discussed on The Meb Faber Show

The Meb Faber Show

03:26 min | 1 year ago

"charlie munger" Discussed on The Meb Faber Show

"We have a all weather fund. So let me get this exactly right. Tweeted out of sheer. Exasperation exasperation says this easy is an all weather fund that helps your clients win by not losing capital letters, win by not losing is a long only US defense fund avenue possibly, call this an all weather fun, and win by not losing. I'm like this has potential to go down eighty to ninety percent in look at the metrics, you pull. On morningstar. This fund is a higher valuation, the SNP which is already high on every single metric, I'm like this is more. It's you MS marketing people, I don't say, I like Dan's comments harshly, because the private equity industry in my opinion. This could be the catalyst or one of the accelerators during the next decline. So many people have placed bets on private equity to be the savior of outperformance in this low return world where magically you're going to somehow get twelve fifteen percent returns and Dan's been spot on about talking about the challenges and unlikely scenario there. But if all of a sudden all these institutions that have been betting on private equity their savior, with large percentage and just run into quickly crisis. Run was Charlie Munger points out Dan's argument. And it's a very good one is that the only reason that private equity looks like it's got lists volatilities. Because they report on a quarterly, but it's and they get to choose their own reporting metrics. Whereas if you're positions like as our public tried to get update every every sick, and if you won't one but tell the among points out that it's also attractive to the endowments and the people who are allocating because they don't have to show the big draw down in the portfolio. So that's why they keep on getting the money. Well, it's like a wink Hinchey. I mean, I think like it's kind of funny behavioral tweak where like, everyone's in on it. They realize like if I only have to look at it once a year. It's probably not so bad. So we should start a fund that only values the portfolio and even years it'd be in everyone's luggage has, like no-ball Tilleke. You know what else? What's got you excited? These days, you gotta fun coming out. Look toward the horizon, twenty nineteen twenty twenty. What else was undermined? Why don't you think about it? Besides procreating. What are you up to like five children, three, three and done a thing? The little is six months. If even one is a lot of if threes bananas. So I think. That I'm done on the kids front. I think I'm gonna do this fund, maybe maybe one more of this one works. And then I'll just be managing those funds don't have any aspirations to have a family of ATS a really just want to be value investor in a world with value investing works. And I think we're coming into that kind of environment. So I'm excited about the future. I think I've heard from most of my friends that have lots of children that power laws apply. They're the ones that have to, like, oh my God to so much harder than the one, the ones that have three like, oh my God. Whatever you do don't have three children. And then after that the people to kind of just insane who have four six eight I think they're in their own category of their like shortsellers, that, I think, two is hotter than one, but I don't think three's anyhow, honestly, I think that the wants you broken H one is to sort of one more into the chaos when more into their locked cages at night. Be it's been a lot of fun. Where can people find more of all your writings, all your goings.

Dan Charlie Munger US morningstar twelve fifteen percent ninety percent six months
Coca Cola, Warren Buffett And Charlie Munger discussed on Brett Winterble

Brett Winterble

02:54 min | 1 year ago

Coca Cola, Warren Buffett And Charlie Munger discussed on Brett Winterble

"Weekend in Omaha Nebraska is the annual Berkshire Hathaway shareholders meeting and Charlie Munger and Warren Buffett were making their ways around talk at a variety of folks, Warren Buffett, he's a Jain Norma's democrat. I know I know so Charlie monger, I don't care about that. But I talking about the politics of the business of this. He also loves Coca Cola. He drinks about five cans of coca day, Warren Buffett. All right. His company is the largest shareholder of Coca Cola with a ten percent stake worth nineteen and a half billion dollars. So when he's talking about Coca Cola, and he's making comments about Coca Cola. He's making comments about Coca Cola and the management of Coca Cola is paying close attention because he's a big customer. He's big shareholder. So they asked him FOX businesses Liz, claiming said to Warren Buffett, what do you think about the idea that Coca Cola is thinking about diversifying into cannabis products? Either a CD concoction THC concoctions any of that sort of stuff. What do you think about Coca Cola getting involved in the marijuana business? They said it would be bad news Munger and Buffett said it would be bad news for the brand that the brand has a wholesome image. And that it would be detrimental sheep. She pushed a little further. He he didn't indicate that he would sell Coca Cola. He wouldn't dump his his his stake in Coca Cola. But he did say to Liz claiming I think everybody who knows what Coca Cola is. It has one hundred percent brand recognition around the world and all two hundred countries or whatever it is. Everybody knows what a Coca Cola is what coke is. It would it would be deleterious to that. Now all this goes back to the September report that coke had its eye on entering the cannabis space after constellation brands and Molson Coors announced their own investments in that industry. Then a month later Coca Cola dismissed it. They said they were not in talks or they were thinking about getting in talks with Aurora cannabis to produce a CBD infused beverage executives Coca-Cola said the company does not plan on getting into that space. Coca-cola could be missing out on a huge opportunity, by the way because that market in the US alone is expected to explode from one billion to sixteen billion in the next six years the market for for cannabis. It's already rapidly expanding. So that's an interesting question and an interesting dilemma. Bear in mind. Charlie Munger ninety five years old and Buffet's not that far behind him. These are these are not spring chickens, and they grew up at a time when when the grass was the grass was in what you

Coca Cola Warren Buffett Charlie Munger Cannabis Charlie Monger Coke LIZ Berkshire Hathaway Omaha Nebraska Jain Norma Molson Coors Constellation Brands Buffet United States Marijuana FOX One Hundred Percent Ninety Five Years Billion Dollars
"charlie munger" Discussed on Thrivetime Show | Business School without the BS

Thrivetime Show | Business School without the BS

03:18 min | 1 year ago

"charlie munger" Discussed on Thrivetime Show | Business School without the BS

"I mean, you could have in the world. And if no one it your mind than if no one's interested in buying it or not reacting to the it. It's actually not. Oh in this the founder of the gravity pillow talking to us there on the thrive time show, and he was explaining that you Mike Grillo by the way, the founder of the gravity blanket. Mike Grillo, he points out Grillo G R L, he points out that you might think you have the best product. But if people don't buy it, it might not be that great of a product. So you've got to go out there and market that product you got a market that product. Now, again, only three percent of any market is in the buying mode right now. So Joe science. I mean, do you. What do you say to yourself when you're going out there? Do you said yourself like I can do this. I'm a champion. I can do because you are at of all of the clients I've ever worked with in my lifetime word. We're talking about thousands of people we've interacted with at conferences hundreds and hundreds of one on one clients. I mean, a lot of a lot of people we've worked with you are probably in the top five percent of all time in the execution in the application of the one hundred system. So let us into your mind, my friend. What are you thinking when you go out there and do the dream one hundred twenty wasn't your mind? I go to do. I know it's it's going to be beneficial. Because I'm building that relationship and building rapport with our ideal unlikely buyers. Surely, you can't be serious. I am serious. And don't call me, Shirley. Okay. It's Jason why is it hard to convince people to do the one hundred system. What is the pushback? What is there's so many out there listening right now who's going? Yeah. But my industries different. I just wanted to write in in my personal opinion is a lot of people have never read. Anything by Chet Holmes are not aware of what the German hundred system is. And so when you tell it to them, they're like, well, I've never met anybody who implements so but others say, well, I don't know who Chet Holmes. Yes, right. I'll tell you. I'll tell you the at one thing, I don't even know don't even I don't even know about who Chet Holmes is if I knew who he was then I would be that's fine. Chet Holmes worked with directly with Charlie Munger for five million mega points Jason. And you're not you're not in trouble. If you don't know this. Because again, I'm just asking some you represent our listeners out there, if you had to guess who was do, you know, who Charlie Munger was Charlie Munger wasn't. He the drummer from the Monkees. There we go. No, charlie. You lost all of your makeup points. You go back to the beginning of the of the game. Okay. So Charlie Munger is Warren Buffett's business partner. No one knows who Charlie Munger is. Because he is like there's Batman and Robin. Yes, he's like the Robin for Warren Buffett. If you had asked me, Robin. I he's worth one point seven billion dollars. What no one knows who he is. Because he's behind the scenes Chet Holmes worked directly with Charlie monger. This is like this would be okay member. How the emperor was not a cool guy never the input from Star Wars. Yes. Palestinian so the emperor. Let's pretend I'm not saying Warren Buffett is a bad guy. I'm just saying let's say the emperor. Warren buffett. Yeah. Who was the emperor's direct guy? Let's start theater, right? And then who was like, you know, kind of underneath Dr Who who's working with Dr you know, helping Darth kind of do it Darth does. I mean, I'm going to say grandma Tarkhan, but he didn't like him. I did, you know more about Star Wars has Chet Holmes was like the assistant for Darth Vader who worked for the emperor..

Chet Holmes Charlie Munger Warren Buffett Mike Grillo charlie Darth kind Jason founder Joe science Grillo G R L Charlie monger Darth Vader Robin grandma Tarkhan Monkees Shirley Batman partner seven billion dollars three percent
"charlie munger" Discussed on WSB-AM

WSB-AM

11:22 min | 1 year ago

"charlie munger" Discussed on WSB-AM

"Our life, forty two Charlie Munger, Warren, Buffett's, Warren, Buffett's right hand, man. One does in words of wisdom from Charlie Munger. And then we're going to talk about which were. Halfway through. And then we're going to get to the US economy versus the rest of the world the rest of the world the global economy slowing down. What does it mean for the United States? We went back in history and looked at the results of a slowing global economy. What it does here t the United States? So all here on money matters. We're also in the middle of a call. So before we get into anything else, we need to get back to we need to get back to this. Call and get through helping Jason and Smyrna talking about selling the house buying a house. What should he do? I we so far JC still there. Yes, I'm still here. So far, we know that you're selling a house. It's totally well, we don't know that you have a house that's paid for your thinking about selling. It's worth about two fifty. You're going to buy a house for another fit five hundred and between five hundred six hundred. I don't know if that will change the number well five to six hundred now, and you, but you're young you're only forty so you've got a long way to go and. So I guess my first questions if you kept the old house, what would it rent for how much rent per month? Would you get from websites? I looked at it says somewhere between eight hundred to one point one percents. So that would put it. Maybe around two thousand about to well, and you see you have to know in your area. So is this in Smyrna? It's in Cobb County just inside eighty five. So technically in Atlanta address. But I think I'll Kelly. So what would it make sense that it's eighteen hundred bucks a month? Is that safe? Probably okay. That's twenty one grand a year divided by two fifty which is the value. It's about eight per about eight and a half percent. Would you could call that your cap rate, which is really just your rent annually divided by the price. Then if you think about the maintenance, and and holding it keeping everything working you're going to net, probably four and a half percent. A year by holding the property, which is not an amazing. It's probably not an amazing investment over time. The next question I have for you is if you're going to buy a place for five, let's call it five fifty you. Do you really do want to try to at least put twenty percent down? So you ask for rule of thumb, and I think that's the rule of thumb. That's most applicable in this situation. You're only forty you. Don't you don't want a huge mortgage on this new place. But at the very least you wanna avoid PM. I so effectively mortgage. Surged you've got to get the twenty percent equity in house in order to avoid that. And that's probably I don't know. Exactly on this house McCall at three grand a year. And if you're going to have this new house for a long time, then three grand a year really adds up. It's another. It's another big factor in this whole do I rent keep the old house, and ran it or not. So I if you're really going to get to the new place that's in the five range caught five fifty unless you think your current home? Is it a neighborhood that's going to absolutely blossom over the next decade? And that's a possibility. I think it's in Atlanta. That's where we are in the in the development of this city. It's a little harder to find. Right. I think it's a little tougher to say that my neighborhood's going to gentrify and become this amazing neighborhood over the next decade that's harder to find today because so many areas have gotten so much better. All. Ready and Atlanta that to me, particularly where you are in Smyrna just inside of eighty five. I don't if you look at data on housing in Atlanta and Ryan, and I have done this over and over again, it's it's hard to fathom how it's been so not good and it's partially because there's no there's no water boundary where we are. And you can just keep building out and out and out from the center the appreciation for homes in Atlanta. This not just in the city, but this is metro Atlanta. It's only around two percent a year. Interesting, and it's real. So it's hard to find a place that is going to blossom and all of a sudden become worth double what it used to be over a shorter period of time because the area itself got a lot better. That's much harder story to find in twenty nineteen my thought here for you with a young give you have kids yet. Yes. You've got a child you're working is your wife working? Yes. My thought here unless you really want to be a landlord and get into the landlord business, which is typically going to be a big chunk of your overall retirement strategy where you wanna have three four five homes over time, and they really become part of your overall income portfolio unless you really are thinking about in wanting to do that. My thought here is that you're probably better off taking at least a hundred of the proceeds maybe a little bit more than that. Depending on the math to get your twenty percent down at least avoid PM. I and then have a much smaller mortgage. That's I think where you're headed here. That's my rule of thumb that is probably most applicable in your situation Jason. So even if we did like eighty. Paid off that second mortgage that way. Well, if you eighty. Ten ten is effectively the way that works as long as it is getting is long as you're getting twenty percent equity in the house, then yes, that's as long as you take care of. And you're saving your call at three grand a year, maybe more. That's what I want you to do in this situation. Thank you for the call Jason. And thank you for. Again, anybody here that wants to get a hold of Ryan Healy myself throughout the week, we're happy to do. So so just go to your wealth dot com. Y O U, R wealth, your wealth dot com. You can Email us. We'll we'll get back to you within twenty four forty eight hours or going to Wes moss dot com. W E S M O S S dot com where you can effectively do the same thing. Those emails come straight to me and the money matters team. We've gotta get to ride. We we we have other calls. We we need to get to are. We going back to Charlie longer where we had it here. Ryan saying for now, I'm going Charlie monger, we've got to finish this up. So again, if we go back to this conversation with a ninety five year old billionaire who bid effectively started with Warren Buffett call it seventy years ago eighty eighty years ago, they're teenagers in Warren Buffett grocery store, defy grandfather's grocery store amassed a couple billion almost two billion dollars. And there's a lot. To learn from these investors over time and today, we've been going through a dozen words of wisdom. Charlie munger. We talked about beating the market or not being the market. We talked about time. Horizon quantitative easing. We then then what about politics Munger believes that if we if things were more lopsided, and we only had one party, let's say, whether you think if you're a Republican there would be way better to have all Republicans or you're democrat. And you think it'd be better to have all Democrats, and that's the way the world thinks right now more polarizing ever, then if if it were that case in the country would be in a much worse place as much as we think our party is the best. It's the balance of those parties that is still the most important thing that we have here in America when it comes to how we operates the balance of those extremes the checks and balances that we learned in third grade social studies class. That's the only way to operate. But but wouldn't it be better? If both parties hated each other lasts. According says Munger. Yeah, I think so. So we knowledge that that that both parties hate each other acknowledged that that exists and express what do we what do we do about it expresses her desire for to get better? At least a start. In some respect, we can all at least you our part in turning the that the negative tied that exists between political factions here in the United States, at least that's the wish of Charlie Munger. What about the debt? What about the twenty two trillion dollars national debt monger? Now, he's ninety five and he says look like for me doesn't matter. But we'll be an issue at some point just not in his lifetime. And it could be a very very long way off before it really creates a major problem number six on this list. China monger thinks that it's a it's natural tasks attention with China United states and China and their advantages were the the advantages are so great on both sides. So the advantages of free or better trade for us with China tremendous the advantages for China are tremendous and they're so good on both sides at some point. We're going to do deal. And at some point we will be it's it's smarter for both sides to work together. So so this is somebody that is that's live through almost a century of economics in the United States in politics. And that seeing that eventually the deal some some sort of deal gets done. He also believes that Trump putting some limits on free trade, at least the way he's negotiating is actually. Okay. Monger thinks that we have not many limits. We don't want a lot of limits. Not he is long as they're not huge. But some limits are okay. And we'll get a deal at some point in the relatively near future. Now. Yes, Munger who's lived through a lot many world wars. Of course, what could go wrong in the world. What's the what's the biggest threat that we have to stocks and the world that we live in. And again, he goes I go back to what is he what does he call this elementary, but worldly, wisdom elementary and worldly, wisdom, what's the answer to this question. What could go most wrong in the world. Now, if you if you really knew what was happening in the world the answer by Munger nuclear war. That's that's what goes wrong. That's the worst thing that could happen. That's the disaster. Global warming we can deal with nuclear or we can't. Since the day, they invented the hydrogen bomb. This is this is this dates Munger. The he remembers like it was yesterday mongers thought of that is the worst possible problem in the world. Yeah. I guess so elementary worldly, wisdom, he's right. All right with money managers. The doesn't words of wisdom. Charlie Munger that we're talking about the United States economy reverses the rest of the world state, more money matters straight ahead. Ten.

Charlie Munger United States Atlanta Smyrna Ryan Healy Charlie monger Jason Buffett Cobb County Warren Buffett China Warren Charlie McCall E S M O
"charlie munger" Discussed on The Blog of Author Tim Ferriss

The Blog of Author Tim Ferriss

04:17 min | 1 year ago

"charlie munger" Discussed on The Blog of Author Tim Ferriss

"They give you access to advertisement cetera to a whole bunch of other benefits based off of that you classified those other sites as distractions. It sounds -ly and. Warren Buffett Charlie Munger, big aisles of ours and Warren Buffett mentions one of his concepts remove in in distractions and focus is there are twenty things you want to do right now we really burning to do safe Russ that was expanding to other channels like WalMart. But you have to scrap them all and focus on the one thing that ultimately will push you forward. And real distractions are things dying to do. So we apply that in our case and kept on focusing on Amazon. I think that was crucial one of you rain. The other end one of you better at narrowing the focus or do you both do that for each other? It's both for each other. And I think there's a lot of value in a partnership in particularly that point because one can easily lose tracking and get distracted oneself. But having. A second. Pair of eyes is definitely where two plus two is wake greater than fall in that sense. You mentioned you guys have mentioned before we start recording. And also now Warren Buffett and Munger. Why are aside from? Yes, they're very successful investors. That's that's great. And they're certainly among the best the world has ever seen. But beyond that, or maybe in addition to that like, why are these two so interesting to you guys? And when you say, we idolize them, that's great. But does that mean, you study them, and if you study them, how do you study them? That's a good question. We what we admire the most of them is the ability to or the constant pursuit of truth and rationality is how do we how do we really understand the reality and keep emotion irrationality out of it as much as possible even admit there's no such thing as perfection in that. But they're always striving to do that. So the most the most studying we do is both on they have to say, I think our our favorite on one of my favorite pieces of Charlie Munger, speech and Harvard. I think nineteen you can look it up on YouTube. Charlie Munger, Harvard, just look up, Charlie Munger commencement. I think it's also in Portuguese almanac. In the newer additions. What they have to say pretty much any insight into their lives, and they're usually pretty private this, plenty of content out there for free that you can you can you can see, but it's that pursuit of being rational state onto earth and keeping emotions out of things that help has helped us both in and personal lives and our relationship as SCO founders as in our -bility to dissect the business and focus on the few things that actually move the needle, Ben what about you? And it relates to the that dynamic duo are there any resources that you'd recommend or porch? Ali's almanac is definitely there. I think there's another book from Darwin to Munger Peter Bevan seeking wisdom. I think is the title from Darwin among or among a deduction is also really good collection. Then the speeches on YouTube. I think. Munger has one at UC, commencement speech. Which is very valuable. I also would recommend a folks who may not explicitly have an interest in what you think of is investing, which is picking stocks. Let's just stay to read the annual letters to Berkshire Hathaway shareholders by buffet. There are collections of these letters, and it will help you to hone or at the very least test your own thinking. So that you become clear or more clear.

Warren Buffett Charlie Munger Charlie Munger Warren Buffett YouTube Harvard Berkshire Hathaway WalMart Russ Amazon Ali Peter Bevan SCO Ben
"charlie munger" Discussed on The Tim Ferriss Show

The Tim Ferriss Show

04:17 min | 1 year ago

"charlie munger" Discussed on The Tim Ferriss Show

"They give you access to advertisement cetera to a whole bunch of other benefits based off of that you classified those other sites as distractions. It sounds -ly and. Warren Buffett Charlie Munger, big aisles of ours and Warren Buffett mentions one of his concepts remove in in distractions and focus is there are twenty things you want to do right now we really burning to do safe Russ that was expanding to other channels like WalMart. But you have to scrap them all and focus on the one thing that ultimately will push you forward. And real distractions are things dying to do. So we apply that in our case and kept on focusing on Amazon. I think that was crucial one of you rain. The other end one of you better at narrowing the focus or do you both do that for each other? It's both for each other. And I think there's a lot of value in a partnership in particularly that point because one can easily lose tracking and get distracted oneself. But having. A second. Pair of eyes is definitely where two plus two is wake greater than fall in that sense. You mentioned you guys have mentioned before we start recording. And also now Warren Buffett and Munger. Why are aside from? Yes, they're very successful investors. That's that's great. And they're certainly among the best the world has ever seen. But beyond that, or maybe in addition to that like, why are these two so interesting to you guys? And when you say, we idolize them, that's great. But does that mean, you study them, and if you study them, how do you study them? That's a good question. We what we admire the most of them is the ability to or the constant pursuit of truth and rationality is how do we how do we really understand the reality and keep emotion irrationality out of it as much as possible even admit there's no such thing as perfection in that. But they're always striving to do that. So the most the most studying we do is both on they have to say, I think our our favorite on one of my favorite pieces of Charlie Munger, speech and Harvard. I think nineteen you can look it up on YouTube. Charlie Munger, Harvard, just look up, Charlie Munger commencement. I think it's also in Portuguese almanac. In the newer additions. What they have to say pretty much any insight into their lives, and they're usually pretty private this, plenty of content out there for free that you can you can you can see, but it's that pursuit of being rational state onto earth and keeping emotions out of things that help has helped us both in and personal lives and our relationship as SCO founders as in our -bility to dissect the business and focus on the few things that actually move the needle, Ben what about you? And it relates to the that dynamic duo are there any resources that you'd recommend or porch? Ali's almanac is definitely there. I think there's another book from Darwin to Munger Peter Bevan seeking wisdom. I think is the title from Darwin among or among a deduction is also really good collection. Then the speeches on YouTube. I think. Munger has one at UC, commencement speech. Which is very valuable. I also would recommend a folks who may not explicitly have an interest in what you think of is investing, which is picking stocks. Let's just stay to read the annual letters to Berkshire Hathaway shareholders by buffet. There are collections of these letters, and it will help you to hone or at the very least test your own thinking. So that you become clear or more clear.

Warren Buffett Charlie Munger Charlie Munger Warren Buffett YouTube Harvard Berkshire Hathaway WalMart Russ Amazon Ali Peter Bevan SCO Ben
"charlie munger" Discussed on Masters in Business

Masters in Business

04:49 min | 2 years ago

"charlie munger" Discussed on Masters in Business

"Our prior conversations with the behavioral psychologists like Bob Schiller, and Richard Thaler. And Danny conman and Meyer statment in any of the other folks who work in that space. I think you're gonna find this conversation to be absolutely delightful. Robert chill. Danny is a professor at Arizona. He is also the author of what everybody I know who works in any form of marketing or sales calls their bible. He wrote the book influenced the psychology of persuasion, and he tells some just absurdly delightful stories of spending time working undercover at used car sales places and infomercial sorts of shops and. Fundraisers. He also explains how Charlie Munger of Berkshire Hathaway was so taken by the book that thirty years ago. He sent Bob a single share of Berkshire Hathaway stock, and as you can imagine turned out pretty well when everything is done, I found the conversation, absolutely delightful. And I'm sure you will also with no further ado, Mike conversation with Bob gel Dini. My extra special guest is Dr Robert chill Dini. He received his PHD from the university of North Carolina and did some post doc work at Columbia. He is currently the regents professor emeritus of psychology and marketing at Arizona State University. He is perhaps best known as the author of the book influence, the psychology of persuasion that book is sold three million copies in over thirty languages. He is also a co author of fifty scientifically proven ways to be persuasive. His latest book is pre suasion a revolutionary way to influence and persuade Robert Sheldon. Welcome to Bloomberg. Thank you, very very glad to be with you and your listeners same here. I'm excited to talk to you. Because everybody I know who works in the field of sales and Ma. Marketing when I just casually mentioned, oh, by the way, my guest this week is going to be a doctor gel genie. Professor shell Dini. They will like what from influence so there were very excited to to here. We were having this conversation, and I have to begin with the story of the original research. You did for the book influence it. Almost sounds like an urban legend you spent three years undercover working as a used car salesman. Telemarketer a fundraiser. What what was that period? Like, and how instructive was it? It was the most instructive and most entertaining research enterprise I've ever in engaged in because not only was it fun to mix up. The I mix up with the ideas of people who were actually practitioners who were in the business of getting us to say, yes, not just the study of it. But also I learned so much as a consequence of how they employed psychology, which is my field to move others in their direction. Did you go into that research expecting? I'll get a book out of it. Or was it really let me get some practical. Grounding in the field before I become a pure academic. No, that's really a good question. I went into it to get some ideas for doing research in my laboratories, where I would say something this wave versus that way. And see how many people agreed with it. It was the same thing, I'm which Assayed in different ways. But I realized that by staying located in a laboratory with college students as my subjects I was missing the power of these techniques to really make a difference outside of the laboratory in the real world. Will there were professions dedicated to getting others to say yes to them? And it seems. To me. There was a lot to learn if I- infiltrated their training programs and learned what they were teaching their prospective professionals. When did you decide? Hey, you know, there could be a book in this while you know, that's exactly what happened to me about three months in. Because what I was learning was telling me there are universal principles of persuasion..

Dr Robert chill Dini Danny conman Berkshire Hathaway Robert chill Bob Schiller Bob gel Dini Robert Sheldon Charlie Munger Arizona regents professor Richard Thaler professor I Arizona State University Columbia university of North Carolina Bloomberg Meyer Ma
Freakonomics for parenting: Selfish reasons to have more kids

Invest Like the Best

02:01 min | 2 years ago

Freakonomics for parenting: Selfish reasons to have more kids

"Charlie munger nerd i'd like him a lot i'm not afraid to say it i like him in part because he's pithy and he's pithy in ways i'm not because i'm too long winded he'll say you want to be a good partner deserve your partner try do it i don't meet them halfway meet them more than halfway and be deserving of someone good and it will probably happen i think that's reasonable you know sort of golden rule spun another way but it's like reasonable advice of the idea you had of picking your kids traits in your spouse i did mention that i was really influenced by this book that i recommend people sometimes called selfish reasons to have more kids so the joke the joke in our house is i wanted to kids them my wife wanted three and we come from four which is about right but one of the pieces of this book is book is kind of freakonomics for parenting freakonomics for kids is one way you can think about it and this guy did a bunch of twins looked at a bunch of twin studies all all you could get his hands on almost eight hundred twin studies and tried to find what was prove ably differentiated about parenting by finding twins that were raised by different families and so of course this is kind of call it the middle eighty percent of the distribution nothing crazy on either end some abusive silly awful situation in what he found is two things so you might get these right one of the provable things over time that you could find is the religion your children chose when they were adults the box they checked some level that makes sense you don't grow up jewish in one day become muslim very often and so not make sense and then secondly is when i mentioned childhood you what's the soundtrack in your head is it metal or alibis and so the environment your parents created and your house might influence that a lot of like what's your own highlight reel of your childhood and how you think about that and they're like everything else is a mixture of your parents your parents and so in that sense one of the conclusions out of that is if you won't particular tenure children choose them in your spouse and i definitely think that in our house so we have our oldest son is great and when he was a.

Charlie Munger Partner Eighty Percent One Day
"charlie munger" Discussed on 77WABC Radio

77WABC Radio

02:33 min | 2 years ago

"charlie munger" Discussed on 77WABC Radio

"The oracle of omaha so bob last saturday as i said berkshirehathaway gathered for the company's annual gathering what they call the the woodstock for capitalists legendary investor warren buffett and his partner charlie munger address a crowd of over forty two thousand people and then you had a lot of great wisdom is always at a spouse during this meeting so i thought we could talk about some of the some of the bigger points that warm made that we can apply to our own investing and finance and the first one is you talked about inflation which you and i've talked a lot about on the show and he said that long term bonds or terrible investment at current rates or anything close to current rates you know you have to agree with them right i mean we're interest rates are at an all time record low coming off all time record lows are gradually starting to go back up but it doesn't mean that bonds are a bad investment i mean a bond fund is actually a horrible investment you know how i feel about that but you know some people get confused when you hear about the oracle of omaha the smartest investor of all time time saying he can shoe bonds equities well of course you can't his knee income what have you need income we're going to get it look and see what you owning your portfolio another really cool story told if this shareholder meeting wise he talked about trading versus investing he gave a personal antidote at the beginning of world war two in the us actually had a really really poor start to the war against japan in the asia pacific and he took advantage of that by buying the markets and then all of a sudden he got a small five percent profit in sold out whereas he has just stayed.

omaha berkshirehathaway woodstock warren buffett us japan bob partner charlie munger asia five percent
Clark Park, Nasa and Jim Roope discussed on The Paul W. Smith Show

The Paul W. Smith Show

01:21 min | 2 years ago

Clark Park, Nasa and Jim Roope discussed on The Paul W. Smith Show

"Parade that'll be noon tomorrow what patent park more than fifty organizations and businesses will take part in that very colorful and fun event after that they'll be a big festival at clark park entertainment live music and such lots of food at clark park and that will take place tomorrow and sunday nasa is set to lift off for a first of its kind mission to mars here's jim roope i this is the first as far as drilling into mars going under the surface of iraqi planet says insight michigan engineer ravi prakash to understand how lucky planets like earth formed and it's the first time an interplanetary mission will be launched from the west coast and it's not because it's a shorter flight to mars from l a i actually asked that question and he reminded me mars is one hundred fifty million miles away going out of the west coast versus east coast is concerned is negligible yeah you know i i realized how stupid that question was the moment launches schedule some time between four and six am saturday jim roope los angeles and this is the big weekend for warren buffett and all of his followers lot of stockholders berkshire berkshirehathaway will hold his annual stockholder meeting this weekend that's all maha the meeting is the opportunity for warren buffett the oracle himself and his right hand man charlie munger to comment on the many investments they have they'll praise or even criticize the companies that they have that wraps up this.

Clark Park Nasa Jim Roope Ravi Prakash Warren Buffett Engineer Los Angeles Berkshire Berkshirehathaway Charlie Munger
"charlie munger" Discussed on Bitcoin Crypto Mastermind

Bitcoin Crypto Mastermind

02:02 min | 3 years ago

"charlie munger" Discussed on Bitcoin Crypto Mastermind

"Is it the articles like forbes or something w t f what d fuck is light coin as likes four paragraphs and that was it i was like who genius explanation of light coin thank you for your four paragraphs five i need to learn about a coin or a token or utility you know a protocol in four paragraphs if it says you know especially if it was kind of where wall street wolf on bitcoin look that up dohrn buffer was this here the house i interviewed him some people don't like it warren buffett does a move crypto you don't love bitcoin heat but you know sometimes the top guys are wrong warren buffett and charlie munger told ilan must not distort tesla and they both admitted they were wrong so i mean you got a different you know one person is god on this planet there is nobody who knows everything you you accumulate knowledge from multiple sources the more qualified the other better but any one given so that's why i decided to build this course in a decentralised way where there's many people many qualified experts teaching and we actually have done this already in the course it's called the you know the bitcoin crypto mentor mastermind one of the things that i did in it is each lesson that submitted by an expert i have it peer reviewed by other experts and we just pulled a lesson out that was in the program oh actually never made it in and it was about to go in i had a pure viewed you didn't like you i thought three people didn't like it so we're actually decentralising the learning process which you're seeing here at my company you know tightrope as witches knowledge society is that the name of the you know the platform that i'm building out knowledge society is decentralising education what sucks about our education think about back when you're in history class i remember one year in school my history class was taught by a former p e teacher he had no qualifications he didn't like history he will take the textbook and read it.

the house warren buffett ilan dohrn charlie munger one year
"charlie munger" Discussed on Invested: The Rule #1 Podcast

Invested: The Rule #1 Podcast

02:05 min | 3 years ago

"charlie munger" Discussed on Invested: The Rule #1 Podcast

"This is be cool the curated list i should actually put that on the search things it's the curated guerrillas so these are the guru's that i think are representative of rule one style investing and and warren buffett and charlie munger obviously on the list at but there's also guys like alan meacham who is pretty young guy on in salt lake city nobody knows much about him runs a company called arlington value capital and he's done phenomenal he started just maybe a decade ago or something with a little bit of capital and now he is almost a billion dollars under management and is one of the few fund managers that actually beat the market not only beat skewed me loves beat the market but a fund manager who who had a positive return when the market was drop you'd like a brick and the reason i mention allen is because that the stock market went down almost 50 percent back in two thousand nine two thousand eight nine and and alan had a positive return and he wasn't short during that crash in two thousand eight yet it a positive return and he wasn't short the market did he foresee this real estate crisis no he doesn't we see the real estate crisis what he he was doing is just be very careful about putting money into companies that had a big margin of safety so he was looking at companies which were out of favour through a lot of that time right so while while that was happening he was able to move money to cash he got heavily into bank of america stock about the same time warren buffett did win the banks were really really cheap and they did really well that was that was a that was a tough time to make money i was sitting in cash and and did well afterwards but to be able to really have a positive return when the markets dropping like a break you've got to be a good investor so that's one of the things that we really like about looking at these guys and watch and what they're doing.

warren buffett alan meacham fund manager allen stock market representative charlie munger salt lake city arlington value capital real estate bank of america billion dollars 50 percent
"charlie munger" Discussed on The Tai Lopez Show

The Tai Lopez Show

01:48 min | 3 years ago

"charlie munger" Discussed on The Tai Lopez Show

"Some animal species they me the other bug or whatever and five minutes or good because their lives short average woman's going to live eighty ninety years she didn't want to sleep with everything that moves neither do your customer davic person's gotta figure out how to be on this planet financially for eighty years they're not going to spend their money with you a bit on though you that well mm grow your social media now how do you do it what's the methodology a master the 25 cognitive biases kolding give me enough time to get go through these charlie munger different people have chronicled what the 25 cognitive biases are there's reward pay authority senescent bias authority bias association bias availability biased pavlovian liking in disliking so there's all chemical bias what happens is if you achieve enough cognitive biases okay and this is not manipulating by the way you could use it to manipulate this is kind of like a pit bull anybody here of a pitbull i've to german shepherd from germany from the top you know attack dog guy in the war these dogs are great right and they can either be used to kill or they can be used the save your life so same thing with the car linda biases you can use them manipulative lee and i hold nobody does that or they can be the most powerful tool you've ever use so right now i want everybody to pull up your instagram right now we give you a quick social media primer right now okay and a simpler way to think of the since i don't have time to do the 25 i'm gonna show you something.

social media charlie munger lee germany linda eighty ninety years eighty years five minutes
"charlie munger" Discussed on Invested: The Rule #1 Podcast

Invested: The Rule #1 Podcast

02:20 min | 3 years ago

"charlie munger" Discussed on Invested: The Rule #1 Podcast

"Hi running this billtown sanyo town we're here for the vested podcast we're we're talking about investing warren buffett style charlie munger style what we call rule one style i feel like a i needed to find it better every time we do a podcast we've done over two hundred of them are defined differently every single time slightly but i really enjoy all of your different definitions my hannity usually add something like warren buffett says it's the best so it is here's the hardest one is we're going to buy 10dollar bills for five dollars it's like yeah that sounds really hard ours is out hard it just sounds like at where added that yeah it's who's the easiest one i look at we're going to buy something now because we know it'll be worth more in two years yeah that's my favorite because again if we all knew that none of us would have any problems in our lives with money i know and it's such a little bar all it has to do is be worth more like a dollar more in ten years and we have succeeded in avoiding violation of rule number one which is don't lose money and i know monies value overtimes declining but lives to stay to the literal interpretation keep its spiral ever what's that bitcoin is correct me i was in vancouver this last weekend and i got to meet with some guys are just fantastic i just jordan so much pretty young guys caught the cryptocurrency reid and his i hesitate to say they have made according to them millions of dollars on i mean i leagues at all hours it's gone like fire bitcoin has gone from what like ten dollars to six thousand or something like that yeah give him at one of these guys actually two of them partnered up in bought a horse it's in the showjumping unlike the world class level for seven hundred fifty thousand dollars a year and a half ago.

hannity vancouver reid sanyo warren buffett charlie munger seven hundred fifty thousand d five dollars ten dollars ten years two years 10dollar
"charlie munger" Discussed on The Meb Faber Show

The Meb Faber Show

01:47 min | 3 years ago

"charlie munger" Discussed on The Meb Faber Show

"Or some other hedge fund or public market fund but it expected to do in your mind like double their money every three or four years should be a great outcome for them at this very few places for them to double a billion dollar investment or threebilliondollar invesment so they're looking to double a threebilliondollar invesment or a billion dollar investment well maybe it's time for you to take some money off the table and and book a win so i like the idea of dollarcost averaging and just you know it's always stuck with me i think warren buffett or his partner charlie munger said like how'd you get rich and they the somebody said it before them but you know selling to early sweating selling 25 percent of your position may be four times and just do it as you're on that peaking situation and maybe leading the 25 the last 25 percent keep rolling when it goes public because companies like you know netflix or gugel have returned tremendously post going public but we also have to ask yourself has something fundamentally changed in how companies go public by the time they go public if you look at the recent cohort how much is left how much is left for twitter snap twa leo box when they go public how far have they come ready are they going to go five or ten acts will see any gubar an airbnb have a five or ten ex left in them certainly they have 10x left in the meeting but for other companies has dropped box have that i don't know you know does does you know twitter have it not sure but some people looked really smart when they invested in twitter late on kleiner perkins famously put like two hundred million in or something at a three or four billion dollar valuation obviously shut up to 45 million came back down to fifteen or whatever either way they still looked really good cash on cash so i think dollarcost averaging getting your money out.

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"charlie munger" Discussed on Invested: The Rule #1 Podcast

Invested: The Rule #1 Podcast

01:46 min | 3 years ago

"charlie munger" Discussed on Invested: The Rule #1 Podcast

"The everybody was built out and this was danielle town welcome to the invested podcast where were talking about how to by individual companies the way warren buffett does the way charlie munger does how did have a go after a very high rate of return with what we consider very low risk which is so that sounds great doesn't exist aspires most of the regulators are concerned and most of the and most of the academics and i could almost say almost all the academics and probably 95 percent of the people who are managing money in almost all of the financial advisers none of them believed this this is how the world works and we've discussed why at great length them out summarize it really quickly here mark portfolio theory is the standard theory under which money is managed in which advisers are taught by the sec to to add the two manage money and that theory says that price is equal value in the stock market because nobody stupid enough to pay too much or or or to buy it for too much and the or sell it for too little in so in this sort of perfect world of rational people in the stock market no one ever makes mistake on price so uh this amazing which of course we all know makes total common sense no one ever makes a mistake on price ever known and again that all just makes total sense and we should i believe in it naga you know i wrote an article for value walk in i i i just wanna mention one thing about because i thought it brought out one really cool thing about more portfolio theory.

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"charlie munger" Discussed on KBNP AM 1410

KBNP AM 1410

02:37 min | 3 years ago

"charlie munger" Discussed on KBNP AM 1410

"Caught him out out who bondi people added cut people uh by the end of the film after asked we've heard story of a who evocative worn he said he'd never would have been able to to uh be at acceptable if he would without who that he she was the reason berkshire hathaway has become what had become so he could get hurt as much credit at he get himself and i think that one of the reasons warren it pleased with a film i don't think that really come out before i i think people have loaded in with credit and who eat always known who desert good part of it the other person on the investing side this charlie munger yeah and i guess i'd never really clued into the ways in which charlie munger has not only been an amazing business partner for warren buffett over the decades but the way in which she appears to have changed buffets investing approach when they meet buffett is really a guy as an investor who's going after the socalled cigar but stocks the companies that are on their last legs but they've got one more time he bit of value out of them and munger comes along and really seems to open his eyes to a larger world of investing completely right and and hope for years worn metal lot of money i'm the mall company that weren't very interesting or glamorous or uh or or even profitable but as you say they had they had a few more cohesive mocow out the little regard but what charlie did open his i who good company at at deep in prices instead of medium company that great crisis andy taught him that over the overtime by investing in franchises in brand that were crushed hidden and and part of the culture that warren could do much better and warned credit charlie with with opening though thrive and if you look at the the the the uh the bike in berkshire value it really it if it take it could get paid him upward movement and then suddenly went when they hit the la he's investing bike upward help charlie was right in warn ordering uh it it that that that now what what he does and what he famous for one of the things that buffett is famous for ininvesting circles is his temperament he has said before them when he mastered his temperament that.

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"charlie munger" Discussed on Motley Fool Money

Motley Fool Money

01:54 min | 3 years ago

"charlie munger" Discussed on Motley Fool Money

"The other person on investing charlie munger yeah and i guess i'd never really clued into the ways in which charlie munger has not only been an amazing business partner for warren buffett over the decades but the way in which she appears to have changed buffets investing approach when they meet buffett is really a guy as an investor who's going after the socalled cigar bought stocks the companies that are on their last legs but they've got one more tiny bit of value out of them and munger comes along and really seems to open his eyes to a larger world of investing completely right and and copremier worn medal of money on the mall company that weren't very interesting or glamorous or uh or or even profitable but at he say they had they had a few more coke's of smoke out of the these little cigar but what charlie did was opened his eyes to good companies at at decent prices instead of medium companies at great prices andy taught him that over the over time by investing in franchises isn't brands that were trusted and and and part of the culture that warren could do much better and warren credits uh charlie with with opening those eyes and if you and if you look at the the the the the spike in berkshire value it really it it's it's it's a it's it it's a it's an upward movement and then suddenly went when they shift philosophies investing it just spike upwards so charlie was right and warn warren uh is it that that that's now what what he does and what he's saying this for.

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"charlie munger" Discussed on Listen Money Matters

Listen Money Matters

01:42 min | 3 years ago

"charlie munger" Discussed on Listen Money Matters

"Yeah him charlie munger both through a hank which is awesome was like a much reading did you do in in your stock picks number two unserious them seriously i don't know how many stocks you have i have to i have health i would see that there is significant risk in one of them because i like i think i've talked about this last episode it was a penny stock i put forty bucks into a but it was literally is like a friend of mine is really into stocks and as like let's see let's test your confidence in this stock areas because they have like force nothing pretty much okay now i have tesla which i like i've read so much about nealon moscow probably read more about him than any other topic that exists a apple which i was obsessed with i bought like eleven billion years ago and zillion now nets is not quite as ilian but it is john really good really really good uh and then leman brothers and me now that one marked out and lending club and if you don't know didn't work out like so you're like point five brisk our batting average yet point which you know if i was a professional baseball season yep and if you're a professional baseball player whose only ever hit four balls or slowing a four pages you're not a professional baseball player more pitches andrew that reminds me we never did our sirens of titans stock investing simulation will we have to put together because they know the awesome and i broadly pseudo to lose.

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