Charlie Munger on Investing Lessons from Kodak's Bankruptcy | Final Interview with CNBC'23 【CCM 324】

Discover Charlie Munger's reflections on the downfall of Eastman Kodak and its implications for investors. Gain valuable insights into the pitfalls of relying solely on innovation without adapting to market changes and the importance of prudent financial strategies.

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This special interview was recorded on November 14, 2023 with CNBC’s Becky Quick in Los Angeles, CA to commemorate Charlie's soon-to-come 100th birthday. Munger passed away on November 28 at the age of 99. And this interview was aired on November 30, 2023.

☆Who is Charlie Munger?☆
Charlie Munger is vice chairman of Berkshire Hathaway and the closest partner of Warren Buffett. He is one of the best investors ever existed with his profound wisdom in investing, business and life. Prior joining Warren Buffett at Berkshire Hathaway, Charlie Munger ran an investment partnership that returned an average of 20% per year from 1962 to 1975. Meanwhile, the S&P 500 averaged an annual return of just 5% in that time.

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Charlie Munger on Investing Lessons from Kodak's Bankruptcy | Final Interview with CNBC'23 【CCM 324】

[YAPSS]

YAPSS eBook | Collection: Charlie Munger Investing Advice, Life Advice & Others

[Pizza-gbch]

Thank u for including a date for reference. 👍

[kokalti]

No matter how genius you are, when something as amazing as an iPhone comes out with an amazing camera, there is nothing you can do.

[joe-yoy]

Kodak had an electronic camera but refused to market it because it would hurt the chemical film business. Eastman Chemical is still in business.

[icucmerc]

Start early with diversified investments in stocks, bonds, and real estate. Maximize contributions to tax-advantaged accounts like 401(k)s and IRAs. Regularly review and adjust your strategy to ensure security...

[VegasGabe]

Eastman Kodak might have been created by a genius, but near its end, genius would not be a term to describe the management that drove it to bankruptcy. I left in 1989 seeing the writing on the wall. Close minded management ended Kodak's reign.

[Gershwin]

Kodak suffered its decline as a result of several factors. Arrogance, inability to maintain forefront brand identity as digital imagery entered the market, and the failure to be agile while competitors, without the burden of equity in a dying technology demand, quickly moved and invested in the future. So it was with Sears, Packard motor car, and others.

[deanpapadopoulos]

He’s say that there is no certainty and the leader of Kodak and Kodak are an example of this. The shareholders were not wiped out by a dummy or an inefficient organization. Technology makes the previous technology obsolete so quickly.

[pklimbic]

Wait… I thought they crashed because they did not move o digital even though they were presented with the technology when it was in its early stages. It‘s the nature of disruptive innovation that the big players won‘t be able to recognize its potential.

[globalfunseeker]

I'm sure there was a time when Kodak was run by intelligent people, but it was run into the ground by imbeciles. I watched it happen up close, and can tell you it didn't have to happen. Fuji kicked their butt!

[centurione]

Every timr Becky Quick goes public, she gets a +.

[RegisBernard]

I'm favoured, $60k every week! I can now give back to the locals in my community and also support God's work and the church. God bless America.