A Conversation with Charlie Munger and Michigan Ross - 2017

To jump directly to the conversation with Charlie, click here: 2:57
To jump directly to Charlie's discussion of bitcoin and cryptocurrency, click here: 38:40

Charlie Munger, Vice Chairman of Berkshire Hathaway, joins Michigan Ross Dean Scott DeRue for a conversation about Mr. Munger's life, career journey, philanthropic legacy, and his thoughts on a few current global trends. Recorded Nov 30, 2017 in Los Angeles as part of an event for alumni of the Ross School of Business at the University of Michigan.

Scott DeRue and Charlie Munger are introduced by John E. Conlin, President of NWQ Investment Management Co.

[leondonald]

This is quite educational. It's crucial for newcomers to keep in mind that the financial markets are highly irrational in the short run. You should constantly be ready for the unexpected. That is how chance operates. Because of the inherent risks in the market, I always favor long-term investments.

[patrickbrussels]

Finance and Business books have been so helpful. I’m 55 and my wife 50 we are both retired with over $3 million in net worth and no debts. Currently living smart and frugal with our money. No longer putting blames on FED for our misfortunes. Saving and investing lifestyle in the stock market made it possible for us this early, even till now we earn weekly.

[saikatbanerjee]

“I didn’t want to get rich.. just wanted to be independent.. I just overshot” - Charlie Munger 🙏🙏

[Pammulli_]

Didn't Charlie Munger and Warren Buffett invent the strategy of buying/investing when the market is low and also buying/investing when the market is high? As Warren Buffet said, he has seen this happen many times in his life. Not an investor. My wife and i never earned more than a middle class salary. We plan to get retired at 58 with a stock portfolio worth $4M. We have never sold so much as one share of stock...

[canefan]

I enjoy his lectures more than Buffett because he’s very frank

[sportsguyify]

this man is 94 years old and sharp as a tact

[georgesotiriou]

Thank you Mr Munger for all the knowledge you have shared over the years. Poor Charlie's Almanack is one of the best books a person can read.

[billpholde]

What I like about this guy is how logical and unimpressed he is.

When I was young, I used to think "old" people just didn't get it. They weren't interested in the music and movies, or the musicians and actors I thought were "cool". What I didn't realize was that they had seen it all - everything I had seen and then some.

Charlie's lifetime included the Great Depression, WWII, Marylin Monroe, Frank Sinatra and the Rat Pack. Is he supposed to be impressed by The Iraq "War", The Kardashians, drug-addicted rock bands smashing-up hotel rooms or Prince Harry and his boss?

Most people envy Charlie Munger because he's rich. I envy the fact that he created his success using his mind and that he's independent enough not to care what people think.

[wallstreettalks]

The best thing a Business School can do is to let people like these give the lessons

[joshuanicklin]

I feel like this should have gone on for 6 more hours.

[infjt]

Charlie Munger is the most upfront and frank guy you can get without coming across as rude. I always appreciate his honesty and how he’s never scared to say it how it is regardless of how others tip toe around topics, he will always let his audience know the truth. He is also really clever with his humour in softening the hard truths and also getting his audience to listen.

[zhangxiaoyu]

Charlie does not sound like a 90 something man, it is really a miracle to have such wise mind at 90s, his life and investment philosophy really shines the way ahead.

[maharudar]

Skip to the first question (& certain delay ) 4:40

[dangbui]

He used to be a rifleman, also a lawyer, real estate developer. and the heart of Berkshire

[iqbalmatondang]

listening Charlie Munger is equal with reading a hundred books

[clivesmith]

Brilliant interviewing, allowing Charlie Munger time to talk without interruption unlike some other interviewers

[rizwann]

Best time invested in Canada day 2021 ... Thanks MS to record and upload. Appreciate the dean who respect Charlie enough not to interept and fully understand the value of providing opportunity Charlie to talk ... Appreciate the way he conducted the interview. Bravo.

[arulprakash]

I have been following Charlie Munger for a very long time, and this is, by far, one of the most knowledgeable conversations I have ever seen!

[visionwarrior]

9:57 "it also helped me that i kept changing my judgements..as I learned more...& more facts came in.... and that created life long habits that were very very useful" - love listening to Charlie share his stories!

[zjxn]

Charlie's comments on Bitcoin are pure gold.