Investing is simple (not easy). You “only” need to know (and apply) what Charlie told in this speech from 1994
The idea for this blog post came to me while reading Poor Charlie’s Almanack: The Essential Wit and Wisdom of Charles T. Munger, edited by Peter D. Kaufman and beautifully published by Stripe Press. Specifically, I was inspired by the chapter titled “A Lesson on Elementary, Worldly Wisdom As It Relates To Investment Management & Business” This speech given at USC Business School in 1994 encapsulates the essence of investing. It’s simple, but simplicity doesn’t equate to ease. Mastering and applying the principles in this speech is all you need to achieve financial success, and I can guarantee (*) that it will make you rich.
(*) I can also guarantee 90% of you won’t read it in full. 90% of the remaining won’t understand what they read. 99% of the remaining won’t practice it on daily basis for decades. Which means only 1 in 10000 of the readers will become rich.
A Lesson on Elementary, Worldly Wisdom
Charlie Munger, the Vice Chairman of Berkshire Hathaway and Warren Buffett’s long-time partner, delivered a speech that distills the core principles of investing. Here are the key takeaways from that chapter:
