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if you're someone who's just starting out on their investment Journey or perhaps dealing with a tight budget you might think that investing is Out Of Reach but fear not Charlie Munger the vice chairman of birkshire Hathaway and Warren Buffett's right-hand man has some invaluable insights that can help you get started even with a small amount of money so grab your notebook and pin because we're diving deep into munger's Timeless principles of investing on a budget um Warren and you are known for saying that if you work with a small Su of C Capital namely I think being $10 million Warren had probably said that he he could guarantee that you compound that at 50% a year so my question is can you provide some examples and and I would ask kindly ask you provide as many examples as possible and be as specific as possible thank you well and man I hear somebody that really wants to get rich at a rapid rate with specifics that is not what we try to do here we want to leave some mystery so that you can use yourself finding your own way you know the good idea is that I have had life quite few but the lesson I can give you is a few is all you need and don't be disappointed and when you find the few of course you've got to act aggressive that's theer sister and I learned that indirectly from a man I never met which was my mother's maternal grandfather he was a Pioneer and he came out to Iowa and fought in the Black Hawk Wars and so on and and eventually after enormous hardship he was the richest man in town and he owned the bank and and uh so on and as he sat there in his old age R up my mother knew him cuz you go to his Alona Iowa where he lived and had the big house in the middle of town iron fence capacious Lawns big barings so and what Grandpa Ingam used to tell her there just a few opportunities you get in a whole lot this guy took over Iowa when the land was black top soil of Iowa was cheap but he didn't get that many opportunities it was just a few that enable to we can't come pro prosperous he bought a few Farms Charlie Munger the legendary investor and right-hand man of Warren Buffett has always emphasized the value of investing in quality over quantity so let's break down how you can apply monger's principles to start your investment Journey first things first Munger believes in the power of patience and compounding as he famously said the big money is not in the buying and the selling but in the waiting even with a small amount investing consistently and giving it time to grow can lead to substantial wealth it's all about playing the long game let's look at some examples of companies that reflect monger's investment philosophy remember these are not recommendations but illustrations of the types of companies that fit the criteria Munger might look for for instance Munger has been known to hold shares in companies like Berkshire Hathaway Costco and Daily Journal Corporation these companies have strong business models experienced management and a competitive advantage in their respective Industries another example could be the Rivalry between Coca-Cola and PepsiCo both companies dominate the beverage industry and have been rewarding shareholders for decades investing in either could be seen as investing in a wonderful business at a fair price next Munger advises to invest in wonderful businesses at fair prices rather than just any business at a great price this means looking for companies with strong fundamentals excellent management and a Competitive Edge that will stand the test of time but how do you find these companies especially when you're starting with a small amount well Munger suggests focusing on what you know and understand start with Industries you're familiar with and research companies within that space munger's approach also involves weeding out merely decent opportunities in favor of great ones he believes that truly great investment opportunities are rare this is why his portfolio is extremely non- Diversified holding only a handful of companies at any given time this contrasts with the common advice of diversification Munger strategy is more concentrated focusing on a few High conviction bets rather than spreading out risk across many Investments Munger emphasizes investing within your circle of competence this means sticking to Industries and companies you understand well for a techsavvy investor this might mean looking at leading tech companies like apple or or Microsoft for someone familiar with consumer goods companies like Proctor and Gamble or Unilever might be more appropriate the key takeaway from munger's examples is to focus on businesses that you believe will be successful in the long run it's not about catching the latest Trend but about understanding the fundamentals that make a business enduringly successful now let's talk about the Practical steps with today's technology starting small has never been easier you can use online platforms to by fractional shares of stocks meaning you can own a piece of a company without buying a whole share this is perfect for investors with limited funds there are also apps that allow you to invest your spare change or set up automatic investments into lowcost ETFs or mutual funds these tools make it simple to start investing with little money and build up over time remember the key is to start even if it's just a small amount the earlier you begin the more you can take advantage of compounding interest so there you have it investing with a small amount of money is not only possible but it's also a wise decision that can lead to significant returns in the long run take it from Charlie Munger focus on quality be patient and let time work its magic thanks for watching if you found this video helpful give us a thumbs up and subscribe for more investment insights until next time keep investing smartly
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