RIP Legend Charlie Munger 🙏🏼

In Memory Of Charlie Munger: The Key Lessons He Taught Us…

The investment world recently waved goodbye to Charlie Munger, Warren Buffett's legendary sidekick at Berkshire Hathaway Inc. (BRK.A, BRK.B), and the OG of investing. Munger, who nearly hit the centennial mark, left us with a treasure trove of investment wisdom and a rap sheet of financial wins.

While Munger dropped wisdom bombs and witty one-liners over the years, the most mind-blowing lesson he taught me was the art of clear thinking in the investment game. In this piece, we're not just going to scratch the surface; we'll dive into the belly of the investing beast and reveal how I'm turning his teachings into gold in today's market circus.

Charlie Munger's Mind Gymnastics
Munger was like the Yoda of clear thinking in investments. He had this Jedi-like ability to cut through the market noise, dodge flashy trends, and keep his eyes on the investment prize. For him, investing wasn't about chasing after the latest hotshot stock; it was about understanding a company's vibe and tossing capital where it mattered.

One thing that made Munger the investment superhero was his obsession with long-term value over short-term shenanigans. He knew the real moolah came from picking companies with staying power—solid business models, killer competitive edges, and management that wasn't asleep at the wheel. So, while others were throwing money at Bitcoin (BTC-USD) like it was confetti, Munger was chilling with the likes of Costco (COST) and Apple (AAPL).

But wait, there's more! Munger's clear thinking wasn't just about what he invested in; it was also about what he didn't. He had this cool concept called the "circle of competence," basically saying, "stick to what you know." No wonder he didn't dip his toes into sketchy industries or investments that made as much sense as a chocolate teapot.

And the man could admit when he goofed up! Take Alibaba (BABA, BABAF), for example. Munger owned up to being charmed by its Chinese internet magic, forgetting it's just a fancy online store. Now, how many investing gurus do you know who'd own up to a mistake like that? Not many. Here is what he said…

““I regard Alibaba as one of the biggest mistakes I ever made. In thinking about Alibaba, I got charmed by their position in the Chinese internet and didn’t stop to realize, 'they’re still a g**-d***** retailer.'”

And now, the grand finale! Munger's investment mojo also had this chill vibe of patience. Picture this: he didn't twitch unless an opportunity waltzed in, wearing a sparkly dress and singing a Broadway number. He was like the zen master of waiting—had more patience than a sloth in slow motion.

While others were playing investment roulette, Munger was cool as a cucumber, sitting on stacks of cash like it was his personal money throne. Sure, he'd occasionally underperform the S&P 500 (SP500), but that was just him flexing his muscles, showing he's not into that constant investing FOMO. Munger was all about quality over quantity, waiting for those golden moments like a savvy investor playing a game of financial chess.

So, there you have it, the icing on Munger's investment cake – patience. While others were sprinting, he was leisurely strolling, waiting for the perfect financial date to sweep him off his feet. Because when Munger made a move, you knew it was going to be legendary. Now, that's what I call investing with style and a dash of flair!

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