저자: 미상 · 외국인
요약 보기
찰리 멍거의 투자 및 사고방식 교훈 5가지를 소개하는 영상으로, 특정 종목이나 자산에 대한 가격 방향 예측 발언은 없음. 결론: 영상은 멍거의 투자 철학과 사고 원칙을 다루며, 대상 자산의 1~3개월 가격 전망은 등장하지 않음. 첫 번째 교훈은 자신의 능력범위(circle of competence)를 알고, 남들보다 유리한 게임에만 참여하라는 것. 영상은 제약사의 신약 예측처럼 불리한 게임은 피하고 경쟁자가 어리석은 영역을 찾으라고 설명. 두 번째 교훈은 저평가 시 집중 매수. 코카콜라가 주주에게 줄 가치 대비 싸게 거래될 때 수개월간 대량 매수했다는 사례를 언급하며, 기업 전체를 인수하는 관점으로 주식을 평가하라고 함. 세 번째 교훈은 평생 학습. 멍거는 특별한 천재성보다 꾸준한 학습이 핵심이며, 워런 버핏도 70~80대에 더 나아졌다고 언급. 네 번째 교훈은 극단적 이데올로기 경계. 강한 이념은 사고를 굳게 만들어 판단을 망친다고 경고하고, 자신의 입장을 반대편보다 더 잘 설명할 수 있을 때만 의견을 말할 자격이 있다는 '철의 처방'을 소개. 다섯 번째 교훈은 신뢰받을 만한 사람이 되기. 자신이 사고 싶은 것을 세상에 제공하는 황금률을 강조하며, 그렇게 얻은 신뢰가 큰 기쁨을 준다고 설명. 출연자는 진행자 1인이며 소속은 설명란과 제목에서 확인되지 않음. 보너스로 멍거의 심리학 강연 링크를 소개함.
다듬은 글
hey guys the videos that i love doing the most are the ones where i get the opportunity to share with you the things the people and the stories that have motivated and inspired me the most or taught me the most over the years and today's video is one of those because the person that this video is about charlie munger is someone that i massively respect and have learned a lot from as have many people around the world he's probably most famous for being warren buffett's right hand man and the vice chairman of berkshire hathaway but i think that doesn't quite do him justice i think it's because of how big warren buffett is in mainstream culture that charlie munger's kind of been in his shadow a little bit and hasn't crossed over into the mainstream in the same way which is surprising because a lot of the things that he says and what he talks about actually applies to people outside the investing world more than what warren buffett talks about so this is a man who is a fantastic investor but also super intelligent and synonymous with the word wisdom you know there are so many lessons you can take from someone as wise as charlie munger but the things that have been most impactful for me and i've appreciated the most are the things that he says about mental models and critical thinking so here's what we've done for this video we've gone through some interviews and talks and picked out five key lessons that you can learn from charlie munger these aren't his top lessons or specific to investing but these are five lessons that we think could be impactful for you and if you watch them leave a comment below letting us know which one you found most insightful or if there's another clip that you know of him or another quote that we haven't included in this video that has impacted you and your life so let's check it out i have a question about you know if you were researching a new company that you've never heard of how would you approach the research process how much time would you spend if you performed an intrinsic value estimate and the company was expensive would you still continue following the company closely and researching it or do you kind of try to get to a valuation pretty quickly and if it's if it's not cheap kind of move on how do you balance the time you spend on companies well of course it's complicated techno technologically i tend to leave it to others i may make an occasional variation in that but basically i just don't do it i want to think about things where i have an advantage over other people i don't want to play a game where the other people have an advantage over me so if you have a pharmaceutical company and you're trying to guess what new drug is going to be invented i've got no advantage other people are better than that than i am i don't play in a game where the other people are wise and i'm stupid i look for a place where i'm wise and they're stupid and believe me it works better there's you know it's god bless our stupid competitors they make us rich you know that's that's my philosophy and and i and i i you have to know the edge of your own competency you have to kind of know what this is too tough for me i'll never figure this out i'm very good at knowing when i can't handle something time we bought it it was succeeding mightily on multiple fronts it was cheap in relation to what was plainly going to happen that was a valuable insight there are times when even a company as big as coca-cola is too cheaply priced by the market considering what it's going to do for the shareholder and there are times when we can figure that out and there are times when we can't and the times when we can figure it out we tend to go in heavily for many many months we were buying as much coca-cola as we could buy roughly a third of the volume trading every day for months so we were very aggressive in buying into coca-cola we have the mindset of the person that's buying the whole business at the price you would realize by multiplying the price we're paying by share by the number of outstanding shares and and we want the price for the whole business so calculated to look very attractive so we like buying individual shares at a price that's lower than we think a rational person would pay if he could buy the whole business remember that it's not real brilliance in other words you talk about prodigy what it takes to extend the boundaries of physics neither of us has we have learned how to outperform people who are a lot smarter yeah we can't play top-notch chess no we can't help no but we know how to do what we do but the other great secret is that good at lifelong learning warren is so much better in some ways in his 70s and 80s than he was younger that it's almost awesome if you keep learning all the time you have a huge advantage and we both just like it and we have a wonderful group of friends really wonderful from whom we can learn a lot another thing i think should be avoided is extremely intense ideology because it cabbages up one's mind you've seen that and you see a lot of it you know in tv preachers for instance you know they've all got different ideas about theology and and a lot of them have minds that are made of cabbage and and but that can happen with political ideology and if you're young it's easy to drift into loyalties and when you announce that you're a loyal member and you start shouting the orthodox ideology out what you're doing is pounding it in pounding it in and you're gradually ruining your mind so you want to be very very careful with this ideology i've had you it's a big danger in my mind i've got a little example i use whenever i think about ideology and that's the scandinavian canoeists who succeeded in taming all the rapids of scandinavia and they thought they would tackle the whirlpools of the aran rapids here in the united states the death rate was a hundred percent a big whirlpool is not something you want to go into and i think the same is true about a really deep ideology i have what i call an iron prescription that helps me keep sane when i naturally drift toward preferring one ideology over another and that is i say i'm not entitled to have an opinion on this subject unless i can state the arguments against my position better than the people do who are supporting i think only when i've reached that state am i qualified to speak now you can say that's a too much of an iron discipline it's not too much of an iron discipline isn't even that hard to do it sounds a lot like the iron prescription of ferdinand the great it's not necessary to hope in order to persevere that probably is too tough for most people i don't think it's too tough for me but it's too tough for most people but this business of not drifting into the extreme ideology is a very very important thing in life if you want to have more correct knowledge and be wiser than other people the heavy ideology is very likely to do you in safest way to try and get what you want is to try and deserve what you want it's such a simple idea it's the golden rule so to speak you you want to deliver to the world what you would buy if you were on the other end there is no ethos in my opinion that is better for any lawyer or any other person to have by and large the people who've had this ethos uh win in life and they don't win just money just honors and once they win the respect the deserved trust of the people they deal with and there is huge pleasure in life to be obtained from getting deserved trust and so and the way to get it is to deliver what you'd want to buy if the circumstances were reversed occasionally you find a perfect rogue of a person who dies rich and with and widely known but mostly these people are fully understood by the surrounding civilization and when the cathedral is full of people at the funeral ceremony most of them are are there to celebrate the fact that the person is dead and that reminds me of the story of the time when one of these people died and the minister said it's now time for someone to say something nice about the deceased and nobody came forward and nobody came forward and nobody came forward and finally one man came up and he said well his brother was worse that is not where you want to go that's not the kind of funeral you want to have you'll leave entirely the wrong example all right guys i hope you found that interesting and insightful remember leave a comment down below letting me know which of those lessons was most impactful for you and a little bonus bit of content i've left a link in the comments section to my favorite talk from charlie munger it wasn't included in this video because it's too long and it's not a video clip anyway it's more like an audio of his talk but it's about human psychology and it's really insightful so check that one out as well remember leave a comment hit the thumbs up button if you like this video and you want more five key lessons from other people from the financial world and don't forget to subscribe to the channel if you haven't already we really appreciate that thanks for watching take care and i will see you in the next one
Comments 0