Charlie Munger Discussing what the average man should invest in if he doesn't know a lot about the market. 📚 Books about Charlie Munger and his favourite books are located at the bottom of the description❗
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Billionaire James Simons: Conquering Wall Street with Mathematics:http://bit.ly/JSVidIA
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Seeking Wisdom: From Darwin to Munger: http://bit.ly/SeekingWisdomCM
Poor Charlie’s almanac: http://bit.ly/PoorCharliesAlmanack
Damn Right: Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger: http://bit.ly/DamnRightCM
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Titan: The Life of John D. Rockefeller, Sr.: http://bit.ly/TitanRockefeller
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From the same man who uttered "I think those bailouts were absolutely required to save civilization," now comes "I do not think that the civilization is going totally to hell or anything like that." So when the market was way down, he wanted the Federal Reserve and the Federal Government to bail him and his bankers out. And now that the market is up, and he is enjoying the consequences of the massive bailout that benefited a select group of which he and his bankers are members, then he is impavid about the stock market and had totally forgotten about the overwhelming fear he had before being bailed out. Sheer hypocrisy.
The Stock Market is no different than the casinos in Las Vegas both have people who have the money and have taken the time to figure the Ins and Outs, who have studied the odds and have either a lot of technology and/or experience to know what they are doing: On Wall Street They are INSIDE and EVERYBODY Else is Outside. In Las Vegas the guys "In The Know" are called Professional Gamblers. The Insider and the Professional Gambler are the only people making any really money EVERYBODY Else is a "Sucker". Occasionally Suckers Must Win a few crumbs to "Prime The Pump" and Bring In New Suckers.
Jesus said to his disciples that they could not serve God and mammon, for one would consume their attention, more so than the other (can you completely detach from the earth? from the world? from cesar's domain?) - so if Buffett ever "gets religion" that will be the day to short Berkshire.. before the stupid mistakes start to compound... Likewise, never go to a Chassid to manage your finances... "now where did I put your envelope?.. mail box?" .. money. words. The invisible bank? .. of course, if you give a lecture on corporate governance, are you really serving mammon, and not LOVE? For business is like poker, and nobody who sits at a poker table - who is decent - desires the game to be rigged, for there to be cheaters to be there. Nevertheless, it is very much part of the world - commerce, and the world, they, are not going away until "the last day"... umm, well, it is a stage set, or play, is it not? Food for thought. How should man have been "rearranging the atoms" - the physical verse - is not as important as the reasons why he did what he did. .. If you are very spiritually-minded, cooking becomes very complicated... did I remember to turn off the stove? Did I put the milk back in the fridge, or the cabinet?
The spiritual world, is invisible, but not temporal.
I love seeing intelligent, well educated people think they can succeed in investing, only to find their stomach muscles let them down. To win in the Game, one has to be in-human, and I mean that in a good way.
As a profitable trader and investor, this guy is absolutely right. I'd like to point out, he emphasizes "if you don't know what you are doing" which is 90% of 'diy' investors. The herds do not take their time and due diligence in researching and practicing their investment strategies. Technology makes buying financial products so accessible and seemingly sexy and the masses undermine the time and effort it takes to actually crack the investment game.
Brickstun Ram Back in the mid to late 80s when UK retail investors started to become active after various floatations (IPOs) by the UK government the brokerage I work for commissioned a study into the habits of retail clients with the end conclusion being that such people were a risk to themselves and others. As you rightly say they don't do their research or practice to refine their trading strategy. All the technology that is available to hand is no use unless the person commits time to ensuring that they understand fully the pros and cons involved.
He didn't; say day traders, though. Index is not DIY those are managed funds with historical performance matching the market. Exceeding the market requires having skills above the high performing market average as a whole which is a minority sport.
Rebecca Quick, in her own right a prize winning journalist who even in her undergraduate years showed great promise and wit. She's Interviewed Warren and Charlie in addition to many of the most powerful financiers in the world. Beauty brains and and bravado all in one package
Brian Galloway nobody is an idiot here. No worries. It's just that Berkshire isn't a brokerage and they don't charge investing fees. But to your point, somebody who invests in BRK via a brokerage could be charged a fee.
so you think he's lying to us so he can make some fees of the couple thousand viewers? he's a billionaire you stupid... Billionaires don't lie, they literally gain nothing from doing so.
Even if he told you exactly how he trades stock, you cannot replicate it.
He is the 99.9999 percentile for a fucking reason loser
Thanks very much for posting these videos and for your channel. Can you also post the date that these interviews originally took place on? Just so that the viewer can have some more context. Keep up the great work!
Download the appropriate system image for your device below, then unzip it to a safe directory.
Connect your device to your computer over USB.
Start the device in fastboot mode with one of the following methods:
Using the adb tool: With the device powered on, execute:
Using a key combo: Turn the device off, then turn it on and immediately hold down the relevant key combination for your device.
If necessary, unlock the devices bootloader using one of the following methods:
If you are updating a Nexus or Pixel device that is manufactured in 2015 or later (for example, a Nexus 5X, Nexus 6P, Pixel, Pixel XL, Pixel 2 or Pixel 2 XL device), run this command:
For Pixel 2: To flash the bootloader, Pixel 2s boot loader must be updated to at least Oreo MR1s version first. This may be done by applying an over-the-air (OTA) update, or sideloading a full OTA with the instructions on that page.
For Pixel 2 XL only with loader version prior to TMZ20a: the critical partitions may also need to be unlocked before flashing. The unlock can be performed with this command, and should NOT be done on other devices:
If you are updating an older device, run this command:
The target device will show you a confirmation screen. (This erases all data on the target device.)
See Unlocking the bootloader for more detailed instructions.
Open a terminal and navigate to the unzipped system image directory.