Charlie Munger: 'Opportunity comes to the prepared mind'
Vložit
- čas přidán 2. 06. 2024
- Warren Buffett and Charlie Munger answer questions on Zen Buddhism, cost of capital and big ideas at the 2001 Berkshire Hathaway annual meeting.
Top ten investment books;
The Intelligent Investor by Ben Graham: amzn.to/2XP3Hvo
The Big Short by Michael Lewis: amzn.to/3ak7Wr0
The Dhandho Investor by Mohnish Pabrai: amzn.to/2PqQDgk
One Up On Wall Street by Peter Lynch: amzn.to/39JM2Kk
Ben Graham's Security Analysis: Sixth Edition, Foreword by Warren Buffett: amzn.to/2XNYtAh
The Little Book of Common Sense Investing by Jack Bogle: amzn.to/2UsGk8T
Common Sense on Mutual Funds by Jack Bogle: amzn.to/2Uxu2wl
Common Stocks and Uncommon Profits by Phil Fisher: amzn.to/2XOCU2v
Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger by Peter Kaufman: amzn.to/2oBddW4
The Essays of Warren Buffett: Lessons for Corporate America: amzn.to/3EwbNxx
(The above are affiliate links.)
Didn't Charlie Munger and Warren Buffett invent the strategy of buying/investing when the market is low and also buying/investing when the market is high? As Warren Buffet said, he has seen this happen many times in his life. Not an investor. My wife and i never earned more than a middle class salary. We plan to get retired at 58 with a stock portfolio worth $4M. We have never sold so much as one share of stock...
It really isn’t about how much you save, it’s about how you manage your money. Whether you work to earn income or invest, it still boils down to income vs expenses, so yeah you may look into financial advisors for a strategy that suits your timing....
i've been doing this same thing myself. Can't get into trouble with the IRS when I have no income and all my money is in stocks. I don't like doing the work though. Lol. So I just invest through an advisor who does the stock picking. My money grows, and I'm tax-free...
Do you mind sharing info on the adviser who assisted you? been saving for pension since age 18 - company scheme. along the way I hit higher tax, so I added to my company pension with a SIPP (tax benefits) I'm 46 now and would love to grow my finance more aggressively, there are a few cars I still wish to drive, a few mega holidays, etc
My advisor is "Catherine Morrison Evans". In terms of portfolio diversity, she's a genius. You can look her name up on the internet and verify her yourself. she has years of financial market experience plus she is also FINRA & SEC verifiable.
She appears to be well-educated and well-read. I just ran a Google search for her name and came across her website; thank you for sharing.
This is quite educational. It's crucial for newcomers to keep in mind that the financial markets are highly irrational in the short run. You should constantly be ready for the unexpected. That is how chance operates. Because of the inherent risks in the market, I always favor long-term investments.
These uncertainties will always be there. Thing is, every once in a while, the market does something so stupid it takes your breath away. If youre not ready for it, you shouldnt be in the market business. or get you a skilled practitioner.
Such market uncertainties are the reason I don’t base my market judgements and decisions on rumors' and hear-says, it got the best of me in the year 2020 and had me holding worthless positions in the market. I had to revamp my entire portfolio through the aid of Heather my financial advisr, before I started seeing any significant results happens in my portfolio. Been using the same advisor since then and I’ve scaled up almost a million within 2 years. Whether a bullish or down market, both makes for good profit, it all depends on where you’re looking…
@@martingiavarini Not bad at all. I know a lot of folks that made fortunes from the Dotcom crash as well as the 08’ crash and I’ve been looking into similar opportunities in this present market. Could this coach that guides you help?
@@hermanramos7092 Finding financial advisors like Catherine Morrison Evans who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
@@martingiavarini Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
"The greatest weapon is a prepared mind" -- Zhuge Liang (3 kingdoms)
"Luck is when preparation meets opportunity"
Whats also fascinating to see is that they are 85+ and they are eating icecream and drinking coke!
the money keeps you going
This is from 2001. They were mere youngsters back then. Buffett was about 70 & Munger was 77.
Buffet drinks 1.5L of coke daily. He is scientifically aware from meta analysis that he can eat alot of simple carbs as long as he workout.
They’ve spent their entire lives depriving themselves of any luxury so they can accumulate wealth. Their only vice is sugar. I’m the same way except I quit all processed sugar so my only vice is shrooms.
And all the guys eating bee pollen and bean sprouts are at home sick.
"as a coke addict"
He did not stutter. This is finance.
He meant coca cola.
@@Maxjeix01 whoosh
@@Maxjeix01 Haha, maybe he meant both. Cocaine is the rich mans drug.
i love how theyre snacking on the desk so they dont get bored and promote their products they have many shares of.
This video, a year ago, changed my life. Thank you, whoever you are.
What part of the video in particular?
@@videowatching9576 Nonya
The smarter the person the quicker and more often they spot patterns - like these 2 fine gents
True.., but it also took 40 years of Learning & Experience
you probably dont give a shit but does anyone know a trick to log back into an instagram account?
I stupidly lost my password. I appreciate any tricks you can offer me
@Jonathan Harlan Instablaster :)
Very true!!!!
And coke addict could be taken the wrong way 😂
that's so wong!
Buffet talks about how amazing Coke is... Its a shit product as all unhealthy products are.
Long on $MEDELLIN
At first I thought he meant cocaine.
@@Elizabeth-yg2mg no shit
Charlie looks cute eating that chocolate popsicle. No wonder his last name is Munger.
I'm sure it's not his first time
il aime manger
@@chiquita683 OR LAST WOOOOOOOOOO
Don't let that face fool you. That's how he made a billion dollars.
Best opening half-sentence, ever.
What a great sense of humor these two have!
Charlie's take on WACC was really eye-opening.
If you use Mr. Buffets pricing comparison, you realize that the reason Coke products are currently losing market share is because their current cost per 6oz is no longer twice, but 5x what it was in the 1930s. They currently charge about 25 cents for a 6oz portion and since their competitors can charge half that without the cost of branding, it's a much better proposition.
Successful investing is the combination of luck and skill
-Charlie Munger
Great wisdom by Oracle of Omaha
thank you for this channel
+1 you've done a wonderful job
How did you find all of these archives? Thank you!
Thanks for uploading these clips!! What share holder meeting are these from?? Never mind 2001
Undoubtedly , These Two geniuses are exemplar of minting monies in an exciting way by eating candies / chocobars and swilling coke(s) , certainly, proving the point that accumulating avalanches of wealth with ease and priortizing peace of mind isnt a joke , nonetheless, striving exhaustively hard to achieve abundant wealth probably is !!! Long live Mr Buffet and Munger🤞🌹🙏👌🏾🙏🥤🍡👑💎🥇, Fingers Crossed , Amen
Mr Sam Deymon has a great way of motivating people to achieve their goals and dreams. Thank you for sharing this with us.❤❤
Am really filled with ineffable joy, me trading with Sam to this lecture, makes me pristine. 🥰🙏.
@@Bmayo-se2yg Thank you for offering this information mR sAM appreciate your tips on how to manage TRADE condition.
thank you for this honestly, sometimes the trade seem easy but just dont realize what we do everyday with our time can effect our whole week or month income.
@@Bmayo-se2yg It was a beautiful trip to a successful presentation and still relevant to today’s time. Thank you.
He seems so confortable trading any account size that it also makes me more confortable to trade with him. Awesome profit.
Watching these sessions is worth more than any education.
Not to quibble with one of the greatest investors of all time, but it’s “Fortune favors the prepared mind.”, which came from Louis Pasteur
Two amazing men
They love each other up to d moon`;love is a force
Didn't they say that quote in the movie Under Siege 2: Dark Territory?
I agree. Ice cream and coca-cola? Sign me up. 😆😆😆😆. I also wanted to say it's always a pleasure to hear these two talk. Cost of capital is something I have to read up on. 👍👍👍👍
Charlie: (goes into profound explanation of cost of capital)
Warren: (houses an ice cream sandwich with no remorse)
Charlie always looks left and right like his was Warrens body guard back in the days and it is just his habit now.
He is looking for oportunities.
Thats exactly what i thought about CAPM beta and risk. Made no sense. I usually do my discount based on the market CAGR which is my 2nd best deal after stock picking then i will raise it depending of the quality and risk of the business
Opportunity comes to the prepared mind seeing endless opportunities but being able to recognize the big one is like batting in baseball how do you know within .02 s of that ball leaving the pitchers hand what pitch it is where it's going do you want to swing where are you going to swing how hard in such a small time by seeing so many pictures something in your brain clicks and says this is the pitch and you hit a homerun you can explain what you seen in that pitch your thought process leading up to the bat connecting with the ball it's automatic you just know it when you see it and you take action because of the millions of pictures you've probably seen that is what makes these gentlemen so exemplary at finding the big opportunities and Big Ideas
I'm wondering how it now stands with the cola numbers 20 years later. With all the health trends nowadays, it looks to me it's not an all time trending high product anymore.
Great men
They both are so entertaining.
Write that down! 😀
I wish people could actually ask questions
Incredible
Statler and Waldorf eating icecream
I'm sure I have seen these two on the Muppet show
Its a bit weird that they are eating during conference.
1:43
- [ ] To my understanding this just proves how much we need an edge as investors because playing the market like everyone else just isn’t good enough. I've been quite unsure about investing in this current market and at the same time I feel it's the best time to get started on the market, what are your thoughts?
Since the crash, I've been in the red. I’m playing the long term game, so I'm not too worried but Jim Cramer mentioned there are still a lot of great opportunities, though stocks has been down a lot. I also heard news of a guy that made $250k from about $110k since the crash and I would really look to know how to go about this.
There are actually a lot of ways to make high yields in a crisis, but such trades are best done under the supervision of Financial advisor.
Thats true, I've been getting assisted by a FA for almost a year now, I started out with less than $200K and I'm just $19,000 short of half a million in profit.
@@kenanporubsky2122 Impressive can you share more info?
@@Oly_laura My advisor is ‘’Catherine Morrison Evans’’ she’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
"I don't think you can teach someone in 2 minutes about how to have a prepared mind." Charlie Munger (11:34)
Am I high!? I know I'm drunk but are they eating icecream sandwiches? dafuq?
Tf would you be doing if you had a hundred billion? Catch up 🤣
I find it funnier that a drunk person would just watch Warren Buffett and Charlie Munger
As Warren says, he eats like a 6 year old.
looks like a Dairy Queen Dilly bar...
What brand of ice cream are they eating. I want to eat the same thing they are eating.
Dairy queen, cause they own it
@@paulaaquino5847 Its their cash cow!
Warren is really enjoying that ice cream.
And the coke🙄
A prepared mind would look at that ice cream and say: looks difficult to eat easily and gracefully.
That canned processed soup is horrible for you. For example it is full of sodium.
Whats great for investors may be bad for consumers- coke, cigarettes, alcohol, coffee, too much of anything
Sodium is my favourite food
@@DenzelLN936 just make sure you mix it with chlorine before you eat too much of it
when ever Charlie speaks everyone laughs
only warren and Charlie can get away with munching on ice cream bars on stage
😎
I hear these guys eat at Mc Donalds.
Ballers
Coffee consumption has gone up. Buffett should’ve bought SBUX years ago.
It's really profiting I started with 30k dollars trading with a professional broker my colleague recommended to me to Mr Sam Deymon, and now I earn more than my monthly paycheck.
I'm interested to take part. Plz how may I be able to reach out to Mr Sam Deymon
I also started with 6000£ last month and my portfolio has grown tremendously to what I can't imagine.
Incredible mentoring session for traders !!! with the help of Sam Deymon.
Thank you for this. Just checked the advisor out myself, and have sent an email. Is 40k enough to start? And btw, do you think real estate prices in Illinois at the moment?
these 2 codgers are humanity's very valuable natural assets. mining their brains for wisdom
The Spanish gave that name to Confucius.
If you understand Spanish you'll know the word "confusion".
It has the same meaning in English.😂
THE TWO SMARTEST GUYS IN THE WORLD....👍
Opportunity knocks everyday your just not listening
I tried explaining the coke addict thing to my boss now I’m unemployed
Why so?
Why were you explaining to him?
Hopefully its coke a cola and not crack lol
I like how the two tycoons of business are drinking their cokes and eating their dilly bars
Ohh quisiera ser el helado 💌
They are critical of cost of equity which is part of capital. They like opportunity cost which is probably the 10 or 30 year t bond rate.
You cannot do capitalism on borrowed money.
Well the USA has been doing capitalism on borrowed money for over 244 years...working extremely well so far
@@jayfirstly9552 I missed to add : “for long” at the end.
As a former addict of coke. LOL. Not the best way to start😂
Try putting real sugar in coke again then talk about how there has been no price increase. They cheapened the product to garbage
did my man just say clout at 17:57.
You must be yound and think "clout" is some new word or old word with new meaning, lol.
Nope, same word same meaning my Grandmother used it for.
@@karateflix youre right. Im just surprised :)
babe, baby, beef (problem),rat, chick, goon, a fin(5$bill), dope fiend, Sawbuck: $10 bill, (a double sawbuck is a $20 bill) aka a dub.
those are just a few slang terms from the 1920s people still say today 100 years later.
@@stephenbeary7887 haha thats neat
You are running way too many ads and do remember you are using buffett and mungers content. So better be reasonable in the amount of ads you show
@K. DV the point is he is using that for profit and running 10 ads in a 5 minute video
@K. DV you run so many Ads and that's a fact. Face it
Use ad blocker
@@realbobbyaxel you should ask for your money back 🤣
It worked no ads
who asks 3 questions ffs
Someone who wants to learn 3 times as much as the person who asked 1.
These shareholder questions are wayyyy too long....I fast forward the questions to the answers...
Security Crimes
👁️❤️👌🏽
They didn't show their houses, cars or their bitches like many fake "financial guru" todays. They just sharing knowledge and aloooootttt of product placement of their portofolio🤣
Yup invest in the best killer of humanity- Coca Cola.
Popsicles lol
emperors ice cream
jodi welch brechts double team
laurie creelman seen
These guys can talk and talk till the cows come home. And I walk away after listening with nothing more than I had before they talked. No more milk...
.
Ha ha ha
🍌🥱
See with sight u see tins√see with insight u see answers
No the ones who know or is advised are the successful ones and extra crystal myth I don't like coke
Draw Ford the good and the Bad get sched the ugli to Your chi wis of the whole is the story but are not the world justo a puede og plasr when uglis care
Bankruptcy Fraud
Bitcoin is a very big idea
These two old chaps failed to prepare their minds for technology of the bitcoin blockchain and subsequent network effect 12 years after bitcoin’s genesis.
The internet is a great idea but the dot com bubble burst anyways.