Free Resources to Learn From Charlie Munger

Charlie Munger is someone that most people in the world have never heard of, but the American billionaire investor is worth knowing! He is Warren Buffett’s partner and right hand, and the duo is the most successful investors with decades of 20% return per year. Buffett as on several occasions attributed his huge success to Munger. 

In the beginning of Warren Buffett’s career Buffett invested in any stock that was for sale cheaper than the value of the company. For example, the value of the company (buildings, machines, inventory etc.) could be worth $100 per share, but the stock was trading at $50 per share because of some crisis. Munger introduced Buffett to the concept of looking at quality in a business and paying a little bit more per share of stock – instead of buying businesses in trouble for dirt cheap. 

After this mindset change Buffett has said: “It's Far Better to Buy a Wonderful Company at a Fair Price, than a Fair Company at a Wonderful Price.”

And that quote is the essence of Charlie Munger’s investing strategy. Munger recently mentioned that he in his life has struggled with people (like me) perceiving him as a guru. However, he has now come to terms with that and I’m happy for him because he is worth modelling. Learn more from Munger here:

Poor Charlie’s Almanac - The Wit and Wisdom of Charles T. Munger by Peter D. Kaufman

This Charlie Munger “encyclopedia” is packed with Munger wisdom. It shows the breadth and depth of Mungers knowledge and is a great coffee table book you can use to look up different topics (it's not easy or ideal to read from cover to cover). You’ll learn about checklists, the psychology of the market, keeping investing simple and a myriad of other things.
Buy the book here: https://amzn.to/3Lk3hFe 

Daily Journal Annual Shareholder Meeting

Charlie Munger is chairman of the Daily Journal, a publishing and tech corporation in Los Angeles and usually does a live Q&A for several hours to answer questions about the company and his opinions about a range of different topics like crypto, inflation and the 2021 phenomenon "the great resignation". Munger doesn’t hold back on sharing opinions and some of them are controversial and goes against the trend of time. But it comes from almost 100 years of life experience and though some of his viewpoints will trigger some people, it’s worth listening to the essence of what he is communicating. 

“We’ve had enough good sense when something is working very well to keep doing it. I’d say we’re demonstrating what might be called the fundamental algorithm of life — repeat what works.”

Charlie Munger

Charlie Munger Quotes on Instagram

This profile on Instagram @charliemungerquotes will give you a frequent dose of Munger’s best quotes about investing and life directly in your feed.

Berkshire Hathaway Annual Shareholder Meeting

Here you’ll see the dynamic duo Warren Buffett and Charlie Munger ping pong questions and ideas off each other. It’s clear that they have a strong partnership and are very aligned on their investing strategy.

InvestED Podcast Episodes

Phil Town and his daughter Danielle Town shared a range of Charlie Munger quotes and discussed the quotes in detail and related them to their own investing practises and experiences. This is my favorite of the 4 Munger focused episodes and you can find all episodes via their podcast.

Want to learn from Warren Buffett? Read the article: Free Resources to Learn from Warren Buffett

This article contains an affiliate link to Amazon (Poor Charlie's Almanac book). If you buy the book using the link, I will get a commission from the sale.