Charlie Munger’s Top 5 Keys to Successful Investing

Hi Investors,

Here are some facts about Charlie Munger.

1959 – Meets Warren Buffett at a dinner party.
1962-1975 – Operates Wheeler, Munger and Company, an investment counseling firm.
1965 – Stops practicing law.
1978-present – Vice chairman of Berkshire Hathaway.
January 1984–2011 – Chairman of the board and CEO of Wesco Financial Corporation.
May 2014 – According to Berkshire’s proxy statement, Munger has not received a raise in more than 25 years.
February 2015 – Munger reflects on 50 years of success at Berkshire Hathaway in the annual letter to shareholders.
March 6, 2018 – Ranks #1,394 on Forbes’ annual list of the world’s billionaires, with a net worth of $1.7 billion.

He is the vice chairman of Berkshire Hathaway . He started his career as a lawyer but through his friendship with Warren Buffett, Munger eventually left his successful law career to join Buffett in running Berkshire Hathaway. Both of them  have developed a great rapport often highlighted during Berkshire Hathaway’s annual meetings.

During one of the meetings ,  A young shareholder asked Charlie Munger  (Net Worth about US $1.76 billion) how to follow in his footsteps, and Munger brought down the house by saying,

“We get these questions a lot from the enterprising young. It’s a very intelligent question: You look at some old guy who’s rich and you ask, ‘How can I become like you, except faster?’”

Munger’s reply was:

“Spend each day trying to be a little wiser than you were when you woke up. Discharge your duties faithfully and well. Step by step you get ahead, but not necessarily in fast spurts. But you build discipline by preparing for fast spurts… Slug it out one inch at a time, day by day, at the end of the day — if you live long enough — most people get what they deserve.”

Watch the video to learn his top 5 Keys to success Investing.

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Cayden Chang,

Founder of Value Investing Academy

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