저자: CharlieMunger · 외국인
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찰리 멍거의 인생·투자 조언 모음. 인생의 큰 기회는 적으니 올 때 과감히 베팅하라는 주장과, 역발상(인버전) 사고로 실패 요인을 먼저 피하라는 원칙을 강조. 전문화 대신 폭넓은 학습을 택했으나 일반인에게는 한 분야 깊이 알기를 권함. 좋은 기업은 윤리적이며, 바보도 운영할 수 있을 만큼 견고한 기업에 투자하라는 원칙 제시. 종목·자산에 대한 가격 방향 예측 발언은 없음.
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Bill Gates once mentioned him as truly the broadest thinker he has ever encountered Warren Buffett described him as the architect of birkshire Hathaway and the smartest person he's ever met that man is none other than the investing Legend Charlie Munger what I needed to get ahead was to compete against idiots and luckily there's a large Supply when a reporter asked Charlie Munger how to succeed in life Charlie Munger said that is easy because it's so simple what you don't have a lot of envy you don't have a lot of resentment you don't overspend your income you stay cheerful in spite of your troubles you deal with reliable people and you do what you're supposed to do and all these Simple Rules work so well to make your life better and they're so trit let's look into some of the best investment and life advice Charlie Munger has shared over the years and I will say something about life generally I was very lucky and I had an ancestor that I never met he had this Theory looking back at his long life was this unusual success he owned a bunch of farms at the end that he leased to Germans you couldn't lose money leasing a farm to a German in Iowa naturally he was successful but what he said over and over again to his grandchildren including my mother was the real opportunities that come to you are few it's a very fortunate life that has just bathed an opportunity all the way most people just get a few times when they can make a huge difference by seizing a huge activity and he said when you find one my dear grandchildren you can clearly recognize it he says seize it boldly and don't do it small this guy was my soulmate the great-grandfather I never knew and of course I totally adopted his point of view and I must say it has worked wonderfully and so I quit claim my great-grandfather Ingam rule to you assume that your really major opportunities in life are going to be few and when you get a laloa for God's sakes don't hang by like a timit little rabbit don't hang back they aren't that many of the really big good ones if you take the whole history of bur your hathway if you take out the 20 best transactions our record is a joke well 20 b transactions over 40 some years that's one every two years and we work at it all the time life is not just bathing you in unlimited opportunities even if you work at being able to find them and seize them as Charlie Munger mentioned life doesn't shower us with great opportunities few major opportunities will present themselves over the course of our life and then all that is required is a willingness to bet heavily when the odds are extremely favorable using resources available to you as a result of your prudence and patience in the past Munger believed that investment opportunities with true potential are both few and far between as well as worth waiting for he mentioned that the big money is not in the buying and selling but in the waiting but what caused the financial success was not extreme Mobility you know I have have a good mind but I I'm way short of Prodigy and I've had results in life that are prodigious and that came from tricks I just learned a few basic tricks from people like my grandfather what were those tricks kind of now everybody's leaning in wanting to know it's too late for you old guys there are all kinds of tricks that I just got into by accident in life one I invert all the time I was a weather forecaster when I was in the aircore and how did I handle my new assignment being a weather forecaster in the aircore is a lot like being a doctor that reads x-rays it's a pretty solitary you're in the hanger in the middle of the night and drawing weather maps and you're cing Pilots but you're not interfacing with a bunch of your fellow men very much and so I figured out the minute I was actually making weather forecast for real Pilots I said how can I kill these Pilots now that's not the question the most people would ask but I want to know what the easiest way to kill them would be so I could avoid it and so I thought it through and reverse that way and I finally figured out I said there are only two ways I'm ever going to I was in the ferry command there only two ways I'm going to kill a pilot say I'm going to get him to icing his plane can't handle and that will kill him or I'm going to get him some place he's going to run out of gas before he can land because all the airports are sucked in and I just was ftic about avoiding those two hazards and if Kobe Bryant had had somebody like me he'd still be with us yeah it was so stupid to kill kill yourself that way and but just that basic I may have learned that from my grandfather my grandfather would say to when I'm swimming he'd say swim as long as you want but stay near the sure well but you can laugh but he was a very wise man exactly what I'm what I'm hearing you say is that you as a discipline look at what the risk is on the other side of the situation and you avoid that that's one of the rules right well it's it's just it's it's like a lot of practical problems in algebra if you convert you can solve it easily if you don't you can't solve it easily and so of course and I had that trick very early and and most people always say how can you please tell us what you do to save India or to help India and of course I would approach it differently I'd say what could I do which most easily hurt India and approaching it in reverse that way I got better results you look at the vulnerabilities yeah yes and and I have a whole bag of tricks like that Charlie Munger often mentions that the way he think about solving problems is crucial to his success one of his thinking method is inversion when Charlie thinks about things he starts by inverting Munger cils it is in the nature of things that many hard problems are best solved when they are addressed backward for example to understand how to be happy in life Charlie will study how to make life miserable so he can avoid them to exam how to grow his business big and strong Charlie first studies how businesses Decline and die when most people care more about how to succeed in the stock market Charlie is most concerned about why most people have failed in the stock market his way of thinking comes from his philosophy all I want to know is where I'm going to die so I will never go there Charlie Munger isn't the only one who finds value in these inversion thought experiments Mark Andre the legendary Silicon Valley investor and the co-founder of Netscape has an inversion system for testing his investment ideas when andreon decides to invest in a business he uses a red team that takes the other side of an investment argument this red team comes in and tries to destroy andrees investment idea with their argument and if Andre's still yelling out all the reasons why the company is a winner after it has been ripped to shreds then maybe andreon will invest he calls it disagree and commit culture specialization is the safest way up for most people and for that reason say surgeons know more and more about less and less and that's that that's what gets rewarded and if you have a nasty fistula in your colon you do not want a surgeon who's good at PR or political science it's it's it's understandable how how the world reward W this specialization I never liked it and I loved picking up new ideas being a great passionate reader and so I decided I'd make whatever living I could make doing what I like to do which is sort of romping over a whole field I do not recommend it to other people because the safe way up is to know a hell of a lot about something Charlie Munger famously said it's far better to have a few things you understand well than to have a lot of things you don't Munger mentioned the right strategy for the great mass of humanity is to specialize Warren and I didn't really do that we prefer the other type of activity but I don't think we can recommend it to other people while some companies tend to focus on investing in stocks that fall under the same sector Warren and Charlie had different ideas their Investment Portfolio is extensive and covers many sectors some of their biggest Investments include Apple a tech company Bank of America a financial services company and Coca-Cola a company in the consumer defensive sector Munger said it's like a little more treasure hunting back in our day and it was easy to spot the treasure we made it work but it was kind of a lucky thing however Monger stressed that this approach isn't for everyone it's not the standard way to go because they might not be as lucky as him and Buffett one of munger's favorite axioms was that good businesses are ethical businesses and a business business model that relies on trickery is doomed to fail Munger and Buffett developed a reputation for closely analyzing the operations of businesses they were considering making investments in and looking for businesses with both excellent growth potential as well as have the characteristics of fair even-handed and ethical Munger was fond of saying that he always looked for businesses that even a fool could run with the idea being that if you hold a stock for long enough eventually the leadership at that company will indeed make some foolish decisions I hope you like this video thanks for watching
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