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Clay Finck dives into the worldly wisdom of Charlie Munger. Clay chats about Munger’s background, his mental models for living a good life and investing wisely, Charlie’s thoughts on committing to a life full of learning, the biggest mistakes Charlie and Warren have made over the years, and Charlie’s life advice for others.
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IN THIS EPISODE, YOU’LL LEARN:
00:00:00 - Intro
00:01:17 - Munger’s Background
00:05:04 - Buffett Meeting Munger
00:06:50 - Continuous Learning
00:09:27 - Munger’s Mental Models
00:11:11 - Don’t Fool Yourself
00:14:15 - Mental Models for Investing
00:16:54 - Re-examining our views
00:19:21 - Economies of Scale
00:21:40 - Living a Simple Life
00:23:13 - Munger’s Partnership
00:23:37 - How Munger Invests
00:28:31 - Munger’s Investment Checklist
00:31:32 - Mistakes
00:33:40 - Incentives
00:41:41 - Life Advice to Young People
🖊️ Access the transcript and learn more about the guest here: www.theinvestorspodcast.com/e...
📖 BOOKS MENTIONED:
- Poor Charlie's Almanack by Peter D. Kaufman: amzn.to/3fVRTpd
- Richer, Wiser, Happier by William Green: amzn.to/3RX9gDp
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On We Study Billionaires, we interview and study famous financial billionaires including Warren Buffett, Bill Gates, and Ray Dalio. We teach you what we learn and how you can apply their investment strategies in the stock market.
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