Charlie Munger
Charlie Munger
Episode metadata
- Episode title: Charlie Munger
- Show: Acquired
- Owner / Host: Ben Gilbert and David Rosenthal
- Guests: Charlie Munger
- Episode publish date: 2023-10-30
- Episode AI description: Join legendary investor Charlie Munger, known for his groundbreaking partnership with Warren Buffett at Berkshire Hathaway, in a rare and insightful conversation. He shares reflections on his nearly 50-year career and offers timeless investment advice. Munger discusses the similarities between gambling and trading, critiques algorithmic practices, and emphasizes long-term investment strategies with companies like Costco. The wisdom he imparts highlights the importance of trust in luxury brands and the value of patience in recognizing profitable opportunities.
- Mentioned books: Poor Charlie's Almanack by Charles T. Munger, Peter D. Kaufman
- Duration: 01:06:46
- Episode URL: Open in Snipd
- Show URL: Open in Snipd
- Export date: 2025-11-27T20:41:36
Snips
🎧 39:13 - 39:53 (00:39)
To achieve success, three factors are required: intelligence, hard work, and luck. Starting early, persisting for a long time, and continuously trying increases the chances of having good luck.
📚 Transcript
David Rosenthal: if you started with Warren today and you're both 30 years old, do you think you guys would build anything close
Charlie Munger: to what Berkshire is today? No, we wouldn't. We had everybody that has an unusually good result. Almost everything has three things. They're very intelligent, they've worked very hard, and they were very lucky. It takes all three to get them on this list that's super successful. How can you arrange to have two? The answer is a good luck. The answer is you can start early and keep trying a long time, and maybe you'll get one or two. If
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