Charlie Munger's Final Advice For 2024.
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- čas přidán 14. 06. 2024
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What is Charlie Munger's investing advice for 2024? Luckily for value investors, just 2 weeks before his death, CNBC was able to interview Warren Buffett's famous right-hand-man to see his views on how to invest in 2024.
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★ ★ CONTENTS ★ ★
0:00 Charlie's Final Interview is Released.
0:40 Charlie's Secret to Success
3:40 2024's Limited Investment Opportunities
6:50 Being a Value Investor in 2024
9:45 Quality over Quantity
12:39 Focus on the Big Ones
14:50 Charlie's 5 Key Points for 2024
My Podcast: / theyounginvestorspodcast
Brandon van der Kolk is authorised to provide general financial product advice in Australia and is an Authorised Representative (Number 1305795) of Guideway Financial Services Pty Ltd, AFSL Number 420367. Any advice is general & does not consider your financial situation, needs or objectives so consider whether it's appropriate for you. Read Brandon's Financial Services Guide available from guideway.com.au/NewMoney.pdf. Past performance is not a reliable indicator of future investment returns.
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l’m amazed to partake on this, lt has rekindled the fire to my goals.
deserves aII attention, indeed good to be here.
kudos
#VIDEO_IDEA Detailed explanation of Renaissance Technologies' mathematical data-driven investment approach. They have beat Berkshire and the S&P500 index, consistently!
Kadto ko da
Man he was still so sharp at his age
Stayed sharp until the end. Amazing mental acuity for someone that almost hit 100.
Overall, 51% of traders think this year would favor stocks, mutual funds, and other equity-based investments, despite Treasury yields and other safer cash-like investments paying big. I’m looking for opportunities in the market that could fetch me $1m ahead of retirement by 2025
Look for stocks that have paid steady, increasing dividends for years (or decades), and have not cut their dividends even during recessions. Alternatively speaking to a certified market strategist can help with pointers on equities to acquire
True. Having the right financial planner is invaluable. My portfolio is well-matched for every season of the market and recently hit 90% rise from early last year. I and my CFP are working on a 7 figure ballpark goal, though this could take till Q3 2024.
Please can you leave the info of your lnvestment advsor here? I’m in dire need for one.
Yvette Ruta Musto' is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
I was part of the recent layoffs at twitter and this bites hard. Grateful that I kept some savings about 600k tho! Now I am looking for ways to invest this into the stock market to generate good dividends to supplement for my monthly expenses.
you need a certified financial planner straight up! personally, I invest in ETF's and also love investing in individual stocks. yes it’s riskier but am comfortable in my financial environment
You're right mate! I’ve been using a fin-market expert for two years now and I own a 7figure diversified portfolio from investing in stocks. Currently, my portfolio is worth over $900k.
Nicole Desiree Simon' is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her
charlie fr just said “you gotta thug that shit out”
80% equities 20% cash. I plan to take advantage of the s&p 500 as leading indicators predict above 10% rise by this year, my only issue is how to properly allocate a large stock/bond portfolio for substantial gains at minimum risk.
Please can you leave the info of your lnvestment advsor here? I’m in dire need for one
Just put a stoploss to prevent it being able to drop below a chosen point. S&P 500 is as we speak at 5075$ just say you put the stoploss between 4600-4800; above that it can freely swing. Once it hits the point it automatically sells; you get a notification and you need login fast. If the price is still beneath your stoploss you buy again and you just got a free discount on your position. Even after market crashes it always comes back up; if you buy the discount you get unbelievable profit from a crisis. Let’s say it sinks to 4200$ with your stoploss at 4620$; you just got a 10% discount. I day trade with these principles and a lot more. It’s goes with big ups and downs but on average I can pull off a netto 10% profit every 1/2 weeks. It stacks up; even though I didn’t start that long ago and with not much invest. I recommend watching technical analyses videos or yt vids teaching the basics just to learn from experienced traders trade.
Just put a stoploss to prevent it being able to drop below a chosen point. S&P 500 is as we speak at 5075$ just say you put the stoploss between 4600-4800; above that it can freely swing. Once it hits the point it automatically sells; you get a notification and you need login fast. If the price is still beneath your stoploss you buy again and you just got a free discount on your position. Even after market crashes it always comes back up; if you buy the discount you get unbelievable profit from a crisis. Let’s say it sinks to 4200$ with your stoploss at 4620$; you just got a 10% discount. I day trade with these principles and a lot more. It’s goes with big ups and downs but on average I can pull off a netto 10% profit every 1/2 weeks. It stacks up; even though I didn’t start that long ago and with not much invest. I recommend watching technical analyses videos or yt vids teaching the basics just to learn from experienced traders trade.
I wouldn’t personally trust online “coaches” or someone else who tries to sell you stuff or “take care” of your portfolio and money. Personally is would just research myself; I mean opening a account and a position with a stoploss is like making an email account. The complicated parts would be following trends, researching certain stocks, getting into options, bonds, trading with big leverage etc. If you just want single or couple long term positions it’s easy and better to DIY. Just don’t forget the stoploss; it would be a shame to miss out on a huge discount.
I’m under pressure to grow my reserve that currently holds about $500k. I’m down by 20% already following the crash and I fear I could lose more.
It is very easy to buy in on trending stocks but the problem is knowing when to sell or hold which is why a consultant is important. I've been in touch with one for about a year now and although I was initially skeptical about it, I will say I've made more progress within a year generating 6figure profit.
I could really use some guidance, haven't been doing so great as of late, who is this person that guides you.
Lisa Ann Moberly, you can read up on her, she's quite known and her works speaks for itself.
I found it. I booked a call with her on her website, her résumé seems pretty tight.
I anticipate positive growth in the markets for 2024, and I'm considering investing $220k in stocks for my retirement plan due to recent rate cuts. Could you provide guidance on executing this investment safely? Additionally, are there any crucial tips or changes I should be mindful of in the current financial landscape?
If you're new to investing or don't have much time, it's best to get advice from an expert. Investing without proper guidance can lead to mistakes and losses. I've learned this from my own experience.
I agree with you. I started out with investing on my own, but I lost a lot of money. I was able to pull out about $200k after the 2020 crash. I invested the money using an analyst, and in seven months, I raked in almost $673,000
Her name is “Melissa Rose Francks’’ can't divulge much. Most likely, the internet should have her basic info, you can research if you like
Summary of the video : you don't need to kiss all the beautiful girls, one is all you need to be happy for life
This doesn't apply at all😂
@@Pimpjit85just like you don't have to swing at every pitch, and you should wait for the right pitch instead, similarly you don't have to kiss all the beautiful girls and similarly you don't have to make money in every game
@Bhavesh_verma to use your analogy, his point is that beautiful girls are very rare. He's not saying there are beautiful girls everywhere and you just pick one lol
I disagree 😂
❤
Thanks Brandon
Enjoyable video thanks
I think you have a gift of teaching. I have learned much from your videos.
Thank you, another brilliant video! Really enjoyed this one
Glad you enjoyed it!
This is looking great and I'm also long on them on Nexo.
Great initiative on creating not only a channel, but a learning platform with actual value!
The one thing that nobody covers is how to actually hang in there. You can't hang in there without cash flow. Cash flow is the oil the makes everything run smoothly and without regular cash flow it's really hard to pay the bills. It's easy to hold onto great growth companies, which usually don't pay dividends, if other investments have cash flow / dividends to pay all ongoing living expenses. Without working full time, or having great cash flow from existing investments, holding on is much easier said than done. Especially when said cash flow isn't necessarily guaranteed or consistent.
Live below your means is the only way to have cash flow flexibility.
Only invest the money that you don't need for your living expenses.
Solid wisdom here!
I feel investors should be focusing on under-the-radar stocks, and considering the current rollercoaster nature of the stock market, Because 35% of my $270k portfolio comprises of plummeting stocks which were once revered and i don't know where to go here out of devastation.
Safest approach i feel to tackle it is to diversify investments. By spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown. its important to seek the guidance of an expert
Glad to have stumbled on this comment, Please who is the consultant that assist you and if you don't mind, how do I get in touch with them?
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
Good advice. One stock I invested in was Texas Roadhouse, which i bought a few weeks ago at $118 and now i'm up about 25% on it. It's a boring stock to most people, but it's a great business and a compounding machine. Every time I drive past texas roadhouse, the place is packed. My parents go there once a week. They sell a great product, which is an affordable steak dinner and a unique atmosphere. The only regret I have is not buying more, and it's one I don't plan on selling.
Soldiering on is best mindset for life, not just investing. Loved that interview with Charlie.
Great analysis as usual. I love how you break down these guru's nuanced advice into bite-sized snippets.
You've really got an excellent channel. Keep up the good work!
Thank you for this video 👏👏👏
Fantastic inclusion of the leaf blower!
Over two months ago I sold my 6,300 Tesla shares and bought Palantir, Nvidia and Super Micro Computer. Wow I was so lucky I made those moves because I am way further ahead.
Completely selling out of Tesla might not age well but good on you !
Tesla will have a hard time, but I feel the company will come out stronger for it. Not only survive but thrive in the future! but that's a long time
congratulations tho
Tesla will come back but good job on the sell you were right don’t listen to people who tell you to hold and never sell. You just need to have a good reason for doing so.
Caution is the key word..
Agreed.
"We got a little less crazy and stupid than most people", CM... Classic...Legend, RIP
Hey man ! Really nice content coming out from your chanel 🤙 Have you ever considered to make your portfolio public, and talk have you practice these things aswell ? Something like Joseph Carlson. Anyway I practice only LONG, wanted to say you have good and intresting content, whish you the best !
Are you into NVDA stock?
Your videos are always pretty good.
I've been investing for about 2 years, both passively and actively... I did some good trades, and some bad ones, and even the returns from the passive side haven't been that great considering I started in 2021, but I've realized that the most important thing BY FAR is consistently investing as much as possible from income. Living below your means and having a solid budget allowing you to invest regularly stress free is how the average Joe can get there, whatever "there" means. Compounding interest without additional capital will not do much unless you are either already in for a solid 6 figures, or 17 years old. I'm 40 with 55k in the market, reaching 100k is my priority, and it's not by trading that I'll achieve that. Didn't Charlie say something about that? Or was it Warren?
My three favorite channels: New Money, Stock Brotha, & How Money Works. Make my week complete! 🔥 🔥 🔥
Thank you! That's high praise!
New money and How money works I understand, but stock brotha? Really? Is that your personal channel? That's sneaky
looked up "stock brotha" and was greeted with "hot penny stocks". Are you an idiot bro?
Fantastic video, nicely summarises everything I've learnt over the first 12m of my value investing career. Keep these up!
Do you think we could get an analysis of agricultural stocks over the next few years? All the chaos in the UK makes it seem like a good opportunity
Love from India ,have been holding citi and tsla in my US portfolio sold out of east west bancorp after some 30 percent and out of bac with 20 percent, corecivic of proved good with around 80 percent but just invested around 2000 dollars so not so great. Tsla at 188 seems to be interesting ,baba I am avoiding coz I am a concentrated investor so not risking my money. Citigroup is good at 53 dollars a share trading below ,I think it's atleast worth 65 dollars a share at around 0.7 times book and the management is trying to turn it around dividends are good at 3.9 percent. Let me see how this goes ,not so much interested in Tsla
Lets have a quiet moment for all the poor souls that shorted NVIDIA... :(
Rich souls for doing that
Enjoyed the video. Charlies mind was so switched on even till the end..
Brandon, I always look forward to your videos. Relevant topics and content and your perspective and insights are... well, insightful. 🙂 Plus, and this is an odd one for a investing channel, I respect your physique! 😂 A healthy mind needs a healthy body. Keep up the good work!
They control the cards in the deck. Lol😂
Enjoyable video 👍
Thanks for the visit, Mike!
Did Charlie complete the Giving Pledge?
Nope... He never joined.
RIP to the legend
Purchasing a stock may seem straightforward, but selecting the correct stock without a proven strategy can be exceedingly challenging. I've been working on expanding my $210K portfolio for a while, and my primary obstacle is the lack of clear entry and exit strategies. Any advice on this matter would be greatly appreciated.
the strategies are quite rigorous for the regular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skillset/knowledge to pull such trades off.
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
Could you kindly elaborate on the advisor's background and qualifications?
SONYA LEE MITCHELL is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I looked up her full name online and found her page. I emailed and made an appointment to talk with her; hopefully, she gets back to me.
Shoutout to leaf blower?? Lol the dude is doing his job.
How about a company with a CEO who doesn't want to get paid, no debt, 1 Billion in cash, 100M reserved for stock buybacks, just became profitable again, 22% short interest (self reported), stock around the lowest price in 3 years? (also the majority of household investors have their stock in the direct registration system at the companies Transfer Agent). GME
Sad this man is gone! I hope to meet him in heaven someday so we can chat a bit about investing. ❤
Charlie Munger's advice in 2024: "BRAINNNNSSSSSS!!!!!"
fear a housing crash due to people buying homes above asking prices with little equity. If prices drop, affordability and potential foreclosures may arise, worsened by future layoffs and rising living costs. I want to invest more than $300k, but I'm not sure on how to mitigate risk.
Are you beating the index? Serious question
Most aren't
Really the only reason to not just do an index is to hedge. Stop gambling
Has anyone done proper analysis on Tesla? I am down from 70% ROI to 2% ROI on Tesla. I am hopeful and holding onto it. But I am financially illiterate to perform proper the analysis.
Ultimately no one knows. If you invest in something that is hyped and potentially overvalued then you are more likely to lose as other people take profits. Don’t hold on to positions just for the take of it. A good trick is to think: “if I was forced to sell my position back into cash would I reinvest the same amount back into the stock”. If yes, hold. If no, maybe it’s time to sell some of your position.
Buffet's first rule is to only invest in things you understand. You shouldn't have made an investment without doing any research. Something like VTI is a much better call with stock investing. If you want to be more involved in an investment, go read a ton of books and do it with something other than public equities. It has been shown that more activity in a stock portfolio is correlated with lower returns. Better to apply your excess effort to something like a small business or side hustle where speculation is not required for higher returns.
Shout out to the leaf blower ❤❤❤😂😂😂
A Day Without Laughter Is A Day Wasted.
Great video. 2024 and the following 6 years would favour BTC the most even with the massive gains it has had over the past decade.
So basically invest in the magnificent 7 plus snp 500 yes?
I think in part 6:02 depicting savings as gold could be irritating thinking of the fact that every dollar is petroleum and many hearts were broken in the decoupling of the dollar from gold and the fact that bank continue to use deposits for profit oriented goals while destroying your savings in the process which I now know the reason for such a system which is because since liquidity has finite lifespan a lot of it will vaporize and crunch money supply which is why it’s more advantageous to keep it profiting since it’s finite and can be contracted to last longer which makes no sense why the gold standard was abandoned as gold itself which is of infinite store of value can be tapped into to create liquidity.
all i got out of this was VT & chill
The one and only, rest in peace
I like the old buy low sell high. Market is up? sell some, regardless of fomo for more. Market is down? buy some, regardless if it drops a little more. That's not day by day, that's every quarter take a look and move things around if you need, or not if it's all smooth sailing.
Little disingenuous to chalk up WeWork's business model failing to the pandemic--WeWork was a commercial property middle man valued like the next cutting edge tech company.
👍
RIP ❤
Interest rates aren't high. they are normal! These young investors don't know better.
Number two, the stock market has been manipulated buy the FED since 2009 with low interest rates and printed money! It's a fixed game. They brag about the market but it's fixed! So stay with it as long as the FED manipulates it!
btc halving this April has ripped the last 3 times been ripping for over 12 months already
"As an investing enthusiast, I often ponder how successful investors achieve millionaire status. Currently holding $545K from a home sale, I'm uncertain about the next move-whether to invest in stocks now or wait for a better opportunity."
Yes, a good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge
how is charlie's investment on alibaba? did it bear fruit?
Charlie will be missed.
Rule two is more important than rule one.
before investing get out of debt.
"Don't lose money" just means don't sell unless it's green.
❤❤❤❤
Disagree, leverage in to the bubbles early and capitalise on the irrational euphoria
Based af
Don't lose money= don't invest right now, invest ~6 months after the giant crash.
This is my opinion, if charlie is not there nether breakshare hathaway nor buffet would have been this much successful, even before his death charlie defended buffett ( pro replulica article for insider selling ) , now thats an difference mam
Just to be a little less crazy and little less stupid than others. 😊
Rule 1: Don't spend your income, save it.
Rule 2: You're not going to beat the market.
Rule 3: Diversify and hedge.
read The Way Warren Buffet to Invest, is the biggest school of value investing of history
RIP Charlie 😭
ALL IN BABA and JD? and yes china is dangerous but their p/e is hard to not put a certain percentage in it imo. You do you....
you're like the Australian Ivan on Tech
Avoid the standard ways of failing!
Man had a strict diet of Coca Cola, kept him going till 99!
This seems like it is advocating for being heavily invested in just one or a couple of assets, which is pretty risky even if you're pretty confident about them. I buy a good chunk of discounted ESPP shares of my employer every six months, the maximum allowed, and I i held for many years while I knew there was a growth cycle happening but started taking profits off the table because this single asset was dwarfing the rest of my portfolio and it seemed both unduly risky and even double jeopardy since it's where I work. Maybe that wasn't so wise after all, though. It's a business I know well after all, and the situation of being overinvested in my own employer is pretty much a given for executives as normal course.
Honestly I dont understand why it is not good to be invested in your employer?
@@janapreful If things don't go well you are potentially doubly fucked.
Nvidia totally deserves 2 trillion
This dude looks like Zuckerbergs brother.
The massive public, private and hidden debt bombs.
In a dynamic financial landscape, 2024 presents a complex interplay of economic factors impacting equities, bonds, gold, and Bitcoin. The potential for economic downturns and a Bitcoin bull run, coupled with the influence of fiscal and monetary policies, calls for adaptable investment strategies.
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You guys like PGX???
RIP Charlie.
From the grave, still taking us to school!
Let's Go Brandon!
I was never one to believe in stupid questions until this person asked a billionaire how they lived so long…
The frustrating thing is, actually find good good stocks in the first place that pay out dividends allow you to compound a share in the first place. Most of shares have grown very nicely especially the tech stocks but all of them pay almost no dividends 😢
In Charlie's honor, I doubled my Bitcoin short position recently and plan to hold indefinitely......however painful the ride might be.
Terrible idea lol. You support Ukraine which increases inflation yet you short Bitcoin. Does it get any more brain dead lmao
@@Lilblaisy23 Brilliant, mature comment.....reflects an in-depth understanding of economics and cryptocurrencies.
@@jlvandat69 lol I could say the same to you. America is in a debt crisis and people like you want to donate more money to a lost cause. I understand the geo political advantage to it but economic advantage? There is none clearly you don’t understand economics. Also your short position is failing. I’m up $20,000 today alone on my Bitcoin holdings.
BTC might rise quite a bit before it collapses. Good luck.
@@imzjustplayin Definitely possible, I agree. Anyone shorting Bitcoin should be financially and emotionally able to tolerate a spike toward $100K. Not a trade for most folks.
It's likely that you're not managing a substantial investment portfolio and are putting away small amounts of money from your income. If you were to invest $1000 per month into stocks that consistently outperform the market average, say 12% (which is improbable), it would take you just under 6 years to accumulate $100,000. However, if the return is lower, like 3%, it could take around 7.5 years.
On the other hand, if you were to invest the same amount into a secure fixed income savings account earning 5.5% interest, it would take nearly 7 years to reach the same goal. Essentially, there's not much difference between the two scenarios. So, if you're spending a lot of time analyzing financial reports and selecting stocks, you might be wasting valuable time. Simply save your money, let it grow, and enjoy life. At this stage, the amount you're managing isn't significant enough to make a substantial difference.
For long-term retirement savings (20 to 30 years), it's best to stick with a diversified fund or ETF and focus on living your life. However, this practical advice might not make for an engaging CZcams video.
Simple: Munger lived to be a 100 because he avoided bitcoin...😊
💀
He’s making so much sense. Biden needs to watch this, eh?
As long as there are taxpayers to bail them out, Buffett and Munger will do well with their investments.
If you are not in the financial market space right now, you are making a huge mistake. I understand that it could be due to ignorance but if you want to make your money work for you...prevent inflation
I'm really confused, especially in market analysis, how are people using trading with them?
Why is every financial video comment section filled with bots
Charlie got everything right with the exception of china 🇨🇳 and alibaba 💔🙏
I’ve been trading for about 5 years now. Every strategy and every time horizon you can imagine. I didn’t start making money until I started controlling my risk.