Charles Munger On Secrets Of Warren Buffet Success

Charles Munger is the Vice Chairman of Berkshire Hathaway and the right hand man of Warren Buffet. Warren Buffet is the Chairman, President and the CEO of Berkshire Hathaway. Last month, the share price of Berkshire Hathaway crossed the $200,000 mark. Since 1977, Mr. Munger, the vice chairman of Berkshire Hathaway, has also been the chairman of Daily Journal, a peculiar combination of a venture-capital firm and a mutual fund. His public appearances are so rare and his remarks so entertaining and illuminating that investors came from as far away as Alabama, Massachusetts, Minnesota and Ontario to hear him speak.  They weren’t disappointed. Mr. Munger talked almost nonstop for two hours, lambasting the banking and money-management industries, hailing the economic potential of China and, above all, dispensing common-sense advice that anyone can benefit from. His central message: Investors can reach their fullest potential only by thinking for themselves. “If you stay rational yourself,” he told the crowd, “the stupidity of the world helps you.”

Warren Buffet

Over the years Charles Munger has had a tremendous influence on the investing decisions made by Warren Buffet. Now Warren Buffet is a long term value investor who believes in Ben Graham the author of Intelligent Investor. What Ben Graham taught in his seminal Intelligent Investor, Warren Buffet practices it in his investing. Some people credit his success to Ben Graham and Intelligent Investing. You should also read this A Fireside Chat with Charles Munger in which Charles Munger dilates on this aspect more.