원문 보기
Charlie Munger on how to invest in 2023 and get rich with only small amount are you tired of watching your savings sit idly in the bank earning minimal interest are you looking for a way to invest and grow your wealth in the coming year look no further hello guys and welcome back to the channel in this video we take a deep dive into the wisdom of legendary investor Charlie Munger and learn his strategies for investing in 2023 and getting rich with only a small amount of money from diversifying your portfolio to understanding the power of compound interest Charlie munger's advice is a must watch for anyone looking to take control of their financial future so grab a notebook and pen and get ready to learn from the best Monger restates his approach to the purchase of stocks and businesses as an investment he has said that one of his goals is to acquire a intrinsically excellent company which an idiot could manage and yet have some success with in the event that he is forced to choose between being the good person and running a good business he would go with a profitable Enterprise this has nothing to do with the person's moral fiber but rather with the robustness of the company take for instance the scenario in which you have a fantastic entrepreneur who is nevertheless managing a terrible firm this Harkens back to the investment strategy of Warren Buffett which aims to put money into basic Enterprises that are straightforward to comprehend management is still a significant factor in the equation and Monger strives to find a great individual to lead the company for instance Munger referred to the founder of the Chinese Electric Vehicle Manufacturer byd as a great guy and compared him to a combination of Bill Gates and Thomas Edison as a result of this he strongly suggested to Buffett that he invest in bid Munger was quoted as saying figure out what works then do more of that Munger is a firm believer in the age-old proverb that states time spent in the market is preferable than attempting to time the market in spite of the fact that he has watched the value of his Berkshire Hathaway shares dropped by more than 50 percent more than four times he continuously invests therefore as individual investors we may apply this same mindset to our own stocks and Investments which may also suffer losses in the form of considerable amounts particularly given the conditions of the market at the moment the issue with trying to time the market is that if we purchase and sell at the wrong moments it may quickly backfire this is why according to Munger it is often best to remain involved to illustrate his point Munger quotes root yard Kipling's poem If in which the poet advises the reader to keep your head while everyone else is losing theirs and to approach success and failure with the same attitude keep in mind that the objective of investing is to acquire things at cheap prices and sell them at high prices however the majority of investors get anxious if there is even a modest drop in the share price of a business personally I think it's better to avoid checking your portfolio on a regular basis and to make it a point to only put money into companies whose operations you are familiar with Munger is of the opinion that the win-win bargaining method is the most effective one whether it be in business or in life you must ensure that each party believes that they have gained something from the transaction otherwise one of the parties may experience embarrassment and lose interest in doing business with you again to implement a plan that benefits both parties there must be sensitivity toward the ways of thinking desires and requirements of the other party Amazing Things become possible as time goes on and trust is established between parties for instance Munger is a member of the board of directors of Costco cost financial and he claims that the retail giant implements a win-win approach with all of its relationships including those with its clients workers and vendors in spite of the fact that Costco is notorious for its tough negotiation posture with its potential suppliers this is the case Munger also lauds Peter Kaufman the Chief Executive Officer of glenaire and the author of munger's Almanac since Kaufman is attended to the needs of his clients and strives to establish a relationship in which all parties involve benefit like Buffett Munger was born in Omaha but in contrast to Buffett he chose to make his home in California due to the milder climate there in the 1940s he relocated to Los Angeles California in order to begin his legal career and he has remained in that City ever since munger's house is located on one of the most desirable streets in Pasadena and it is in close proximity to the residences of other prominent business people such as the economist Jeff lietzinger and the fictional Wayne Manor from the Batman film series call Tech One of the most prominent colleges in the world and the institution where Munger earned his degree in meteorology in 1943 is located in Pasadena which is also the city's home as a side business Munger also provides financing for the construction of real estate in addition to being an investor in the past Munger has been responsible for financing and designing student housing facilities at the University of Michigan and the University of Cal California Santa Barbara however it is a different tale from the fact that several of his designs have been condemned for their windowless design near 1989 Munger created the seaside Enclave of sea Meadow in Montecito which is known for its upscale lifestyle Oprah Winfrey and Ariana Grande are just two of the famous people that call this neighborhood home the average price of a property in this neighborhood is about 5.5 million dollars recently Munger relocated back to Sea Meadow where he acquired a second property believed to be worth around 11 million dollars the discussion that Munger gave at this occasion was motivated by the fact that he had previously made investments in Redlands California according to Munger one of the most important qualities that contribute to his success in real estate is the fact that he concentrates on really caring for the buildings he is critical of the numerous apartment management businesses that do nothing except profit off of the buildings they oversee to improve the overall appearance of the neighborhood in the first year Munger is thought to have spent six hundred thousand dollars solely on trees Munger acknowledges that there is also Financial incentive involved despite the fact that this is a wonderful thing to do he is particularly interested in finding initiatives that include a Confluence of two aspects to put it another way doing good and making money go hand in hand quite naturally Munger is also of the opinion that intelligence is not a prerequisite for success in the real estate industry he acknowledges that his achievement was achieved via the use of good old-fashioned horse common sense and a little math despite this it is abundantly evident that both Munger and Buffett attribute a great deal of their success to a combination of factors they make doing extraordinary tasks seem simple in the same way that you earn your money when you purchase stocks you make your money when you buy real estate provided that you pay less than it's worth investing in real estate is appealing to me for a number of other reasons as well the most important of which being the cash flow that can be generated through revenue from rentals the second possibility is that you might add value to the property and advertise it in a more effective manner so that you could sell it for a greater price with stocks on the other hand this is obviously not feasible in the exception of investment Banks assisting with the first public offering of a firm both Buffett and Munger have made several references to the significance of fun in both one's professional and personal lives Buffett has previously remarked that he tapped dances to work citation needed in this interview Munger mentioned that he has had a lot of fun renovating residences and reselling them when he has finished doing so is of the opinion that the greatest approach to achieve what you want in life is to deserve what you want and he says this in the context of doing business this refers to providing excellent service to existing patrons in order to Foster loyalty and encourage Word of Mouth advertising munger's success may be attributed to a number of different strategies or hacks one famous strategy that Munger used often is known as inversion simply turning an issue on its head is all it takes for him to find a solution to it when Munger was serving in the Air Force as a weatherman he made considerable use of this strategy at that time he first inquired as to what dangers posed a threat to the Pilot's lives and then he pointed out the specific kind of weather pattern that should be avoided muncher's overall contentment has been aided in part by his ability to let go of hatred and anger since these negative emotions serve no use for the Bearer in addition Mundra suggests developing a passion for problem solving since this may be a significant asset in many aspects of life thanks for watching this video on Charlie munger's insights on investing in 2023 and growing your wealth with a small amount of money we hope you found the information valuable and are now armed with the knowledge to make smart investment decisions in the coming year remember investing is a marathon not a Sprint and it's important to stay patient and disciplined if you enjoyed this video please give it a thumbs up subscribe to our channel for more financial tips and advice and leave a comment below with any questions or thoughts you have thanks for watching and we'll see you in the next video
Comments 0