![]() The short-term price direction of any security or derivative contract is subject to all kinds of wild price swings due to events that have nothing to do with the actual long-term value of the underlying business or asset. There are a huge number of people trying to do the same thing, many of whom are much better informed than we are. Trying to get rich fast is dangerous because we have to gamble on the short-term price direction of some stock or other asset. “The desire to get rich fast is pretty dangerous.” ![]() Described by Business Insider as “sharp in his wit and investing wisdom,” Charlie Munger’s investment tips, business philosophy, and rules for living are as unique as his life story, intelligent as he clearly is, and as successful as he has been. Like The Tao of Warren Buffett and The Tao of Te Ching, The Tao of Charlie Munger is a compendium of pithy quotes including, “Knowing what you don’t know is more useful than being brilliant” and “In my whole life, I have known no wise people who didn’t read all the time-none, zero.” This collection, culled from interviews, speeches, and questions and answers at the Berkshire Hathaway and Wesco annual meetings, offers insights into Munger’s amazing financial success and life philosophies. My role has been that of general contractor.” Munger is an intelligent, opinionated businessman whose ideas can teach professional and amateur investors how to be successful in finance and life. Buffett says “Berkshire has been built to Charlie’s blueprint. Today, Munger is one of America’s most successful investors, the Vice Chairman of Berkshire Hathaway, and Warren Buffett’s business partner for almost forty years. Words of wisdom from Charlie Munger-Warren Buffett’s longtime business partner and the visionary Vice Chairman of Berkshire Hathaway-collected and interpreted with an eye towards investing by David Clark, coauthor of the bestselling Buffettology series.īorn in Omaha, Nebraska in 1924, Charlie Munger studied mathematics at the University of Michigan, trained as a meteorologist at Cal Tech Pasadena while in the Army, and graduated magna cum laude from Harvard Law School without ever earning an undergraduate degree.
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