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you know to Charlie Munger's once asked you know what explains Warren Buffett success Charlie's his CEO oh right yeah yeah he's not CFO his vice-chairman his his longtime for the last 50 years partner going back to the days when Buffett had the buffett partnership and Munger had the Munger partnership interesting that they've never lived in the same city Munger lives in LA buff Munger grew up in Omaha but he's seven years older than Buffett so they didn't know each other growing up but it was a small town you know Buffett worked in Munger's grandfather's grocery store or something there were some connections and a mutual friend introduced them though after when they were adults in their thirties and they immediately hit it off then have been a sounding board for each other and partners in Berkshire Hathaway when Munger closed his Munger partnership in the early 70s he basically threw his lot in with Warren Buffett and Munger has a big ego as a super smart guy but he was also humble and smart enough to realize as good as I am and Munger had a good record as an investor running the Munger partnership as good as I am this guy's better so he teamed up with Buffett in the early 70s and you know Buffett's worth you know 50 plus billion but mongers a billionaire - he's not complaining so I'm sorry I lost my train of thought we're talking about I should I think Munger had a point of view that you said I don't know that made him unique and I'm not quite sure exactly what that was Oh what explains Warren Buffett's success yeah and he one of my most favorite terms this Lollapalooza effects to get super big dramatic change or impact it's never one cause or two causes it's multiple things all working together to create Lollapalooza effects so I would argue for example in the our prediction about the rapid rise in adoption of electric vehicles and autonomous vehicles isn't due to one or two developments it's due to a confluence of things all hitting at the same time you know technology video technology radar technology GPS big data are official intelligence etc etc etc the reduction of battery costs all of those things come together so in Buffett's case Munger points to you know his success is partly being super rational as you pointed out it's having a big ego but also being super humble and that's what's missing almost everybody in the investment field has a huge ego almost definitionally we're all sleeping we know that personalities are the ones who are successful are the ones who also have the humility and self-awareness to say you know what maybe I made a mistake here it's time to get out you know what somebody's making a lot of money over there Trading cocoa bean futures I don't know anything about cocoa beans so I'm not gonna invest over there even if somebody else is making a lot of money doing it right so so you know Warren Buffett was as a and as a teenager in high school was the smartest kid in the class and in his high school yearbook he was most like likely to succeed so he had a good brain for this but then he also got lucky he got trained by Ben Graham and so you can see all these factors put together but basically to become world-class at anything hitting hitting a tennis ball playing the violin and being a brain surgeon a fighter pilot or a superior investor you need the basic fundamental challenge is to get yourself on a super steep learning curve as early as possible and never ever get off it and that's what's incredible about Buffett and Munger just in a couple of days I'm going out to mongers annual meeting out in Los Angeles for a small company he's the chairman I've called daily journal he's 96 years old and he's still learning he's still a voracious reader Buffett is - so you know Buffett started young maybe age ten and here he is at age 88 or maybe just turned 89 and and he's still on an incredibly steep learning curve you don't see many human beings still getting better with age at the age these two guys are right so that gives them the edge and allows them to take the wisdom but still keep learning have the ego but stay humble and that's what makes great investors probably very human beings as well hi my name is Brian rose and I've just wrapped filming of an exclusive video with Whitney Tilson the American investor author and founder of Empire Financial Research about some exciting investment opportunities in the electric vehicle and autonomous driving space when revolutionary new technologies come along they follow an s-curve like that and I think we're in the very early you know right about to hit that inflection point with both electric and autonomous vehicles in a way that you know I could see in ten years where more than half of all the cars sold will be both electric and pretty much self-driving if not full level-5 certainly level for Whitney has been called the profit by CNBC because of his uncanny ability to predict the future with his investment advice and our video will not be available on YouTube or anywhere else but the link below it's an incredibly exciting area and I don't think people fully appreciate how quickly it's gonna happen look we've all seen the massive moves in Tesla stock recently and yet most of us missed it but Whitney has five special investment ideas that the general public have never heard of that will allow you to take advantage of this once-in-a-lifetime opportunity in the electric vehicle and autonomous driving space think of the implications for auto insurance if computers are driving cars hopefully you know forty thousand and almost 40,000 American's die every year on the roads and many many more injured the truth is this sector is going to change everything from energy to automotive to insurance even saving hundreds of thousands of lives due to car accidents every single year and because you are a London real viewer I've managed to get you free access to his groundbreaking special investment report through the link below we're rushing to finish our research and write it up and get it out because all the publicity with Tesla stock ripping is drawing attention to the whole sector and we want to get our report out quickly so that our readers and subscribers can take advantage of some of the other stocks that investors haven't yet picked up on and haven't yet tripled but we think have that kind of potential with says that we should expect exponential growth in this sector much like we saw with the introduction of the iPhone in 2007 imagine being an investor and Apple back then how much would you have made so click on the link below or go to London real TV forward slash invest to watch our video and download your copy of this free report unfortunately I've been limited to the number of people who can have access so act now and get your free copy to take advantage of this incredible investment opportunity
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