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#CNBCTV: Legendary investor Charlie Munger speaks at Daily Journal annual meeting – 2/12/2020

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Legendary investor Charlie Munger speaks at Daily Journal annual meeting – 2/12/2020

[ VIDEO POST ] Date: 2020-02-12 20:14:02 | Duration: 2:6:47 | Views: 162189 | Likes: 1649 | Dislikes: 71

Investing legend Charlie Munger, Berkshire Hathaway vice chairman and chairman of the Daily Journal, speaks to shareholders at the newspaper’s annual meeting. Munger is best known for his steady role as the right-hand man of investing legend Warren Buffett.

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Legendary investor Charlie Munger speaks at Daily Journal annual meeting – 2/12/2020

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36 thoughts on “#CNBCTV: Legendary investor Charlie Munger speaks at Daily Journal annual meeting – 2/12/2020

  1. Avatar SRV. 123 says:

    This board is so experienced and a funeral directors dream. lol

  2. Avatar Dan Wayne says:

    I can't listen to charlie, he's not as charismatic as Buffet. Warren reminds you of that little kid who loves Harry Potter when he laughs.

  3. a legendary investor? sorry man i just got up never heard of him and utube autoplay took me here… It just boggles my mind how the world seems to worship money and those who have it. Did he ever do anything good? just wondering …i mean really good as a human to another 😛

  4. Avatar brock lesnar says:

    What does "wretched excess" means?

  5. Avatar happyuk06 says:

    Its good that he understands real-world software development – hard and takes a long time to do.

  6. this is for everyone : If you are smart enough 1:52:10

  7. well if you look at instant gratification as an effect, then it could be hypothesized that anticipation is the cause, leading to that effect. which rings, somewhat, true to how most behave in modern times, specially with their devices. there is a lot of anxiety amongst the masses and the digital universe, inturn, offers a lot of cognitive stimulation and with the advent of social media, thereby, also offers you to participate in it.
    while engaging with the world through the device is most convenient, the environment is no different than a market place. Promotions, offers, and deals. add the chinese manufacturing to the mix and you have not just deals, but deals at thrifty prices.
    i don't know if you could zero in on what i once heard in my economics class. That researchers, during depressive events, encourage people to get out shopping more, as a remedy for their low mood swings.

    brain researchers also argue that the limbic subsystem benefits more from anticipating reward, in the context of healthy behavioural control, than to be gratified at first impulse.

    i faced a lot of anxiety at school, specially during exam seasons. Some weekends, the dilemma was simply, whether to ask a girl out to the movies on saturday or be somewhat able to pass the midterm on monday by studying all weekend.

    my improverished romantices aside, anticipation to me ended up being just another emotion.
    but the only emotions worth having in life are happiness, joy and thrill.
    so the guiding principles are inherently focused on towards things, worthawhile.

    delayed gratification is simply exercizing patience, over time..

    those who have entered in from its end, have just entered it.
    whereas, those who entered it from its beginning have already left it.
    that's patience.

  8. after watching Charlie's latest interview, there are three things which i want to address in my comment.

    firstly, if any of what he said offends you, then feel free to go and yell at a stray cat or stand quitely in front of a mirror for 10 minutes. it wasn't him, it was you.

    secondly, within the pragmatic framework of thinking, everything has a purpose and the purpose is the first thing we should note about it. for example, the purpose of a standard is to serve as a guide to practice, a measure of excellence, below which all is unacceptable and a thing to reflect against within your own contemplations.

    finally, I want to address all those who find it difficult to understand the "multiple models of reasoning," i.e. how can i be me, A, H, N, S, G, W, Charlie…etc, at once?

    well, have you ever placed a mirror infront of another?

    what happens?

    thanks,

    🦉li
    😎

  9. greatest poly math of Al time,
    in other news, i have been chinese this whole time..

  10. Avatar Dennis Leong says:

    Timeline

    15:55 More on Daily Journal

    33:00 More towards wretched excesses and VC/Private Equity

    Q&A

    50:40 The risk/reward in investing.

    52:10 The Chinese companies are growing stronger and growing faster

    53:30 On Canada

    55:00 On analyst, portfolio mangers vs AI/robo-investing

    56:50 Index Fund and sell-off strategy

    57:40 China loves to gamble in stocks. I think there’s lots of troubles coming. It’s too much wretched excess.

    58:20 Stoicism/Having a survivor attitude

    1:00:25 Fintech and crypto vs banks

    1:02:55 On macro/inflation and book recommendation (none due to poor-sight)

    1:04:00 On Market and global economy – On China and Japan and negative interest rates

    1:08:45 Your biases – Wrong and beliefs

    1:10:30 Economic theory

    1:12:20 Tesla and Elon Musk

    Howard Amundsen once said something that I’ve taken to heart: “Never underestimate the man who overestimates himself.”

    1:14:00 Industrial investment and value investing

    1:17:00 On China – In general

    “I don’t care if the cat is black or white. I want to know if it catches mice.” – Deng Xiaoping

    1:18:40 On longevity, no of working hours, how to stay current with info

    1:19:00 Mental tricks and excesses

    1:21:18 Grooming our children

    1:21:45 Negative interest rates

    1:22:52 Effects of low interest rates on insurance

    1:24:20 Buying over Kraft Heinz and Nifty Fifty

    "We are not that crazy yet." – Referring to valuation

    1:26:00 Private equity and the wretched excesses, EBITDA

    " I think we pay a big price eventually for wretched excess, stupidity, greed, and so forth."

    1:28:50 Rereading of books (or abolishing poverty is a stupid idea)

    1:31:40 On Electric Vehicles (EV)

    1:33:00 On America to recover a positive trade balance to keep prosperity

    1:33:45 How do you nudge your children to hold shares for as long as possible

    1:34:00 What is your motivation?

    1:36:15 On Nuclear energy

    1:38:40 On Universal Basic Income (UBI)

    1:39:20 Tools or behaviors you embrace to facilitate your rational thinking – Invert, always invert

    1:43:10 How to research a company?

    1:44:55 On Electric Vehicles and BYD

    1:45:48 On the integrity of newspaper journalism

    1:47:27 On moats (due to disruption and technology)

    "Let me know what your problem is and I’ll try to make it more difficult for you."

    1:48:57 On being rich and in finance

    1:54:24 On Boeing

    1:53:54 The Psychology of Human Misjudgment and rationality

    1:57:00 On USA healthcare

    2:00:30 Should i invest now? How do i convince my friends to start investing?

    He didnt answer this directly but was hinting that deferred gratification is a good thing.

    2:04:05 On Singapore housing policies

  11. Avatar Henry says:

    at time of speech we were at all time highs and he kept saying wretched excess, week later 10% crash

  12. rational as a greek word translate to english as, to calculate

  13. Munguer👏🏼👏🏼👏🏼

  14. Avatar Michael Wang says:

    44:00 Awesome message to people Charli thank you

  15. in my view, knowledge of capital allocation is important. knowledge of risk evaluation is even more important.
    with the help of the above, my investment philosophy boils down to the following;
    1) learn how to recognize foolishness
    2) then, dont talk, dont walk, Run!

    because you can't fix stupid, i knew it but i still tried….
    because you can't fix stupid.

    if thats not honesty, i don't know what my name is

  16. so basically when you said, "you must build a latticework of mental models that unites all the big ideas in the world"
    …you hit the nail on its head right there!

    sorry, i couldn't write you a meaningful piece of literature, since I faced an ever growing influx of information from all walks of life,
    my diary goes from, psychology, stewardship, dollar, values, economy, quantom field theory….God!, cultures, language……all within one sentence!

    any special topic to write on?

  17. Avatar Arthur C says:

    Charlie Brown grew old and rich

  18. 18:00 I usually like Charlie Munger, but he lost me when he got partisan. Goodbye.

  19. Avatar jin chu says:

    may bac ti p[hu m,ay bac lopn tuoi roi ma tien may bac chua chuyen cho chau noi may bac phai chuyen tien cho chau da roi mat ko ho cu keu chau ngheo ko co tien di ro buom may con kia

  20. Avatar Core Puncher says:

    No disrespect meant, but, at the beginning, he looks like an Orangutan at the zoo. Just munching on some peanut brittle and totally oblivious to all the pictures being taken.

  21. Avatar Core Puncher says:

    This guy is so old, he's friends with the Monopoly guy.

  22. Squack box is perhaps then most unpleasant title of a segment.

  23. 🦁||🦁
    come at us, Br🌎

  24. Starts at 6:40 but the beginning is funny & worth one's view with Charlie munching on peanut brittle.

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  26. Munger is a special person.

  27. Avatar Tenac 300 says:

    he is a million times better than warren

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