Charlie Munger: Avoid These Mistakes and You Will Double Your Net Worth

Charlie Munger, Vice President of Berkshire Hathaway, talks about the mistakes to avoid in order to be successful in business and life. Munger is one of the most respected businessmen of his generation and built a billionaire fortune with his stake in Berkshire Hathaway.

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[zorro]

The two mistakes are: don't overspend your income, and don't be filled with jealousies and resentments.

[bradwilliams]

His words are tremendous wisdom. I am from a medium sized town and once upon a time the company that I worked for moved me to a big city. That experience (meeting people in the city) taught me that there will always be someone wiser, more intelligent, richer, more successful, better looking with a nicer car/truck/motorcycle so don’t waste your days worrying about it. Just be the best person that you can be.

[TheIcelandicInvestor]

Most people would do well to listen to Charlie's advice 😎

[Showmetheevidence-]

It’s incredible how much knowledge Buffet and Munger share... and how totally down to earth they are considering their amazing successes!

[marcusaurelius]

Do not die for one more decade please :(

[begaqincer]

Glad he sharing his knowledge .Its funny how people with a fraction of his success : act like they have a better plan.smh

[OpenMindedNews]

Basically, build a team of people who are or have skills in their field. No one can know everything.

[kgzpictures]

Read Poor Charlie's Almanack two times before. It is really good. His top 20 books recommended inside the book is also very good. Would like to meet him at least once. READ Security Analysis Second Edition and The Theory of Investment Value and you will have the real foundation in Value Investing.

[leventy]

Ben Franklin said "Anyone could be a millionaire these days. One would only have to live long enough!"

[jayhay]

You can expect one or two opportunities in a lifetime to double your net worth. The relentless strive for bigger, better, faster becomes ridiculous. But that is how a free marketplace succeeds by brainwashing the majority of consumers. Another key take: "you have to be there..." . To sum it up? Always be selling.

[kwfown]

This dude should be a national treasure

[robertogerardi]

"...of course the success came from changing our ways and getting into the better business, and it isn't that we were so good at doing things that were difficult, we were good at avoiding things that were difficult and finding things that were easy" - 06:58:00

[korylehman]

Great video! I enjoy the Charlie Munger content.

[pauljordan]

I love this bless him for hopefully many more years, he keeps me motivated in the market everyday.

[InvestingBookSummaries]

Charlie is the realest at the meetings

[johnford]

"we always underspent our incomes and invested it". If I had learned that in the seventies, triple the net worth... -...Proverbs 13:7 — There is one who makes himself rich, yet has nothing; And one who makes himself poor, yet has great riches.

[travelfreakphani]

He's giving it to someone more this guy has a very good sense of humor. hahaha the last line 🤣

[josephbrolly]

God bless you Charlie. No nonsense truth and wisdom. A brilliant man and love his succinct perceptive answers.

[davidbowman]

Great information. I'm always amazed by his information. Such a long standing legend. The amount of information he carries is absolutely astonishing.

[phily]

There is one major catch to his advice. Who wants to wait until they are old and fossilized to be rich?