저자: 미상 · 외국인
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찰리 멍거 탄생 100주년(사망 34일 전) 맞아 그의 투자 명언 10개를 소개. 빠른 부(富)에 대한 욕심은 위험, 남들이 모르는 것을 아는 것이 똑똑함보다 유용, 좋은 아이디어는 드묾, 주가 50% 하락 대비 필요, 흥미와 독서 중요, 예측보다 좋은 사업에 올라타 머무는 것, 적정가격의 훌륭한 사업이 훌륭한 가격의 평범한 사업보다 낫다, 기다림의 중요성 강조. 특정 종목·자산에 대한 가격 예측 발언 없음.
다듬은 글
here is wishing you all a very happy and prosperous 2024 today's 1st January the first day of the calendar year and also the birthday of the legendary investor Charlie Munger Mr Munger unfortunately left all of us in the month of November just 34 days before what would have been his 100th birthday he lived of almost 100 years but his wisdom will continue to guide people till eternity often known as a right-and man of Warren Buffett and also the vice chairman of burshire haway Mr Munger was not only a legendary investor but a man full of insights and wisdom as I mentioned his guidance his insights will continue to guide people till eternity today on his birthday I will share 10 of his quotes which I like the most so this is not exactly a book review I have basically taken his uh quote the first is the desire to get rich fast is pretty dangerous but I think this is very much in line with the investing philosophy of Charlie M and Warren Buffett in fact I remember someone asked uh Warren Buffett once that if you think that investing is only about buying the right stock and you know investing in it for a couple of years if it is that easy why don't why doesn't everyone becomes rich and he answer it because people don't want to get rich slowly so Mr manga's philosophy was that if you want to get rich you have to get rich slowly you have to find companies which are worth investing you have to invest and you have to wait patience he mentioned is very important you just cannot get rich overnight his entire track record is testimony of that fact they never wanted to get rich they never wanted to get a stock which was uh you know in the news or in the making headlines they only invested in companies which they found to be good and they waited patiently for years and in many times even decades and what they achieved is well for everyone to see second quote knowing what you don't know is more useful than being brilliant once again pretty much in line with their investment philosophy you have to invest in what you know it's absolutely okay if you don't know many things but understanding that is critical you have to know what you do not know what you do not understand so one example is that when the tech stocks are making headlines everywhere everyone in the world was investing in tech stocks Berkshire haway did not invest in it because Mr buff and Mr manga said that he this is a business we don't understand they were very clear what they did not know so they did not put any money in that and we all know when the tech Bubble Burst Mr buffet and Mr Munger were the only one smiling the third is you should remember that good ideas are rare when the odds are greatly in your favor but heavy once again of the entire success of workshare haway which made waren birit among the richest people in the world uh the good idea even in a company like Burkshire heway were rare the good investing ideas because I remember in one of the investor calls Mr mangar himself said that you know if you remove the top 10 15 of our stocks our company's long-term track record would be pretty average even people like Warren Buffett and Charlie MAA did not get too many great ideas for them the great ideas in a way were limited to some 1020 of their top stocks so he says that you know whenever there's a great idea make sure you bet it or beted you can say it's it's basically you can say you invest in what you find as a great idea but yes the fact is the great ideas are going to be very very rare if you're not willing to react with eonity to a market price decline of 50% two or three times a century you are not fit to be a common shareholder well once again yes uh they said that when you're investing you should always ready for a fall there's absolutely nothing which guarantees that there will not be a fall you cannot just keep on investing thinking that the prices will never fall prices do fall and very likely they will fall in fact they ask you to be prepared for a fall of as high as 50% mind you he lived for about a century and he has seen many Market crashes many recessions many depressions world wars pandemics and whatnot however he ensured that he stays invested the fifth is I have never succeeded very much in anything in which I was not very interested if you can't somehow find yourself very interested in something I don't think you will succeed very much even if you are fairly smart well we often say Follow Your Passion follow what you like doing it I think Mr manga has said exactly the same thing if you're not interested in something you better don't do that even if you're talented to do that chances are that you will not be able to do a great job out of it having interest in something having a passion for that is critically important if you want to succeed in something and he said that you know he became legendary investor a successful investor because very importantly he was interested in investing mind you he never took a any official course in either economics or business or Finance he he's trained was trained as a lawyer and a materialist yet he was interested in investing and that one of the key reasons why he became what he became okay this one is my favorite in my whole life I have known no wise people who did not read all the time none zero you would be amazed at how much waren reads and how much I read my children laugh at me they think that I'm a book with a couple of legs sticking out as I said this is one of my favorite if you want to be an expert in something you have to make sure you keep on reading Mr buffer and Mr manger even at a very late age in their life they kept on reading every day for several hours so if you want to be an expert in something you cannot become an expert you cannot become best in something unless and until you keep on reading about it reading not only gives you knowledge it also expands Your Horizon it helps with things it helps you understand many things it helps you understand the world it helps you understand the society or whatever all the wisdom which you gain proves to be very very useful okay this is something again I like a lot I constantly see people rising in life who are not the smartest sometimes not even the most diligent but they are learning machines they go to bed every night a little wiser than they were when they got up and boy does that help particularly when you have a long run ahead of you so I think many of you would have seen and noticed in your life you see people rising people growing who you think are not really very talented and Mr manga say the same thing he say however he adds that these are those people who keep on learning who keep on adding to their knowledge base you may not be supremely talented but we have this knack for you know enhancing your knowledge base if you go to bed a little blier every day chances are that you will succeed much more than others the eighth one is I have never been able to predict accurately I don't make money predicting accurately we just tend to get into good businesses and stay there in in my view this is one of the most important lessons for an investor investors are hugely interested in predicting what will be the Target price what will be the profit next year what will be the likely margin next year on the 6 months or say two years around the line and Mr manga makes it very clear that I never predict because I cannot predict accurately he makes a point to understand what's a good business and ensures that he invest and stays invested in that business I think beyond all the ideas of you know some fancy calculations on Excel and forecasting for 1 2 three or four years the key is to ensure that you get into a good business at the right price and stay invested instead of making assumptions every now and then second last is a great business at a fair price is superior to a fair business at a great price so once again this this forms one of the core ideas of mongers philosophy and in fact this is one thing Warren Bufford learned from Charlie Monga that instead of looking at something which is undervalued you should look at something which is a great business even if it's not deeply undervalued investing in a business only because it is undervalued is not a great idea as you said it's far better to buy a great business at a fair price if it's a fair price but if it's a great business chances of money increasing are very very high don't go for a bargain only because it's a bargain the business has to have something which makes it increase in the future last one is it's waiting that helps you as an investor and a lot of people just can't stand to wait but once again this is one of the Hallmarks of uh Mr mangas life that you know waiting having patience is very important which unfortunately most of the investors lack because of misunderstanding because of a wrong perception about investing because sheare greed people just don't wait for their Investments to grow or if they wait they wait for a very short time Horizon what is critical is that once you identified a good business youve got to stick with it to see it grow and what Heights it can reach well nobody can guess that well this is all for today thank you very much for watching the video as I said Mr mangar is unfortunately not with us but sir I'm sure your wisdom will continue to guide people till eternity and I hope more and more people learn about you and read your ideas thank you
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