How Charlie Munger Made His First $1,000,000

This is the story of how Berkshire Hathaway billionaire Charlie Munger made his first $1,000,000. How he went from ZERO to MILLIONAIRE at age 43. You’ve probably heard the story about Warren Buffett, but have you heard the one about his right-hand man Charlie Munger?

Charlie Munger has often said that the most difficult part of becoming financially independent is to get a hold of those first $100,000 or $1,000,000. Today, both Charlie Munger and Warren Buffett are two of the world’s richest men, and none of them inherited their wealth, they’re both self-made. Also, they’ve both been wildly successful as stock market investors. A little-known fact about Charlie Munger, which we’ll talk about more later, is that he operated an investment partnership in the 60s and 70s which has a greater track record than recently acclaimed investors such as Cathie Wood and even legendary investors such as Peter Lynch.

But Charlie Munger’s path to his first million wasn’t without its road bumps. For most of us, and Munger was no exception, life happens, and the accumulation of wealth may be temporarily interrupted or even take a U-turn due to unexpected circumstances. Therefore, I think you’ll find that the story about how Charlie Munger became a millionaire makes for a great complement to the story of Buffett.

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Timestamps:
00:00 Intro
01:59 Munger & Range (1930-)
04:15 Munger the Hamster Breeder (1934-1935)
05:08 Munger & Buffett’s Grandfather (1936-1938)
06:18 Munger & High School (1938-1941)
06:59 Munger & Physics (1941-1942)
07:52 Munger the Lieutenant (1943-1946)
09:26 Munger & Nancy (1945-1953)
10:49 Munger the Harvard student (1946-1948)
11:36 Munger the Lawyer (1949-1965)
12:12 Munger the investor (1952-)
14:14 Munger & Setbacks (1953-1955)
15:40 Munger’s Many Mental Models (1953-)
20:03 Munger & Nancy (1955-2010)
20:48 Munger & Buffett (1959-)
22:44 Munger the Real Estate Developer (1960-1969)
26:07 Munger – One Foot Out (1962-1965)
28:29 Munger the Sage of Securities (1962-)
31:39 Munger: Becoming a Millionaire (1967)

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My goal with this channel is to help you make more money and improve your personal finances. How to become a millionaire? There are many ways to get there – investing in the stock market, becoming a stock trader, doing real estate investing, or why not becoming an entrepreneur? But whether you are interested in how to invest in stocks or investing strategies for creating passive income with rental properties – I hope to be able to provide you with a solution (or at least an idea) here. Warren Buffett - the greatest investor of our time - says that you should fill your mind with competing ideas and then see what makes sense to you. This channel is about filling your mind with those ideas. And in the process – upgrading your money-making toolbox.

[TheSwedishInvestor]

Mistakes were made! Benjamin Franklin, as some have pointed out, was never an American president, he was one of the country's founding fathers. Apparently, I took for granted that every important political figure from the U.S. must have been a president at some point, and I missed to cross-check that one. Sorry! (At least I seem to have been 50% correct, as I also stated that he was dead, which no one has disputed yet)

[einsteinnjr]

Make mungers model. This Man is a genius. He improved buffet and graham's model. Which drove fundamental analysis..

[giova]

My guy is a physicist, economist, lieutenant, hamster collector, investor, and a lawyer

[mistletoe]

Kid`s death is the biggest setback anybody can ever have!

[iValueInvesting]

17:07
"Intelligent people make decisions based on opportunity costs."
-Charlie Munger

[rick.bernal]

More Munger and Buffett videos please. Keep them coming. Great stuff.

[ptimal]

Lot of people say reading is key to success, sure, but I think consumption of information is the key, which today can be done through many different ways, not just reading paper books. Including watching a video like this. In the end though, it matters what actions you take.

[Shawk]

Small correction: Ben Franklin was never elected president of the United States.

[wtidowu]

Awesome video. Probably my favourite on here and I've watched a tonne. Make Munger's models please

[SimonMas]

make munger's models. by the way, great channel. i often get bored with channels like this, but you have a lot of variety and genuinely good content to keep me watching and happily subscribed!

[razvandumitru]

Interesting video! Like the rest you make. Keep going! Would be interesting if you could do something on Munger’s models. Thanks!

[JP]

Charlie Munger is a fascinating character. I believe that Munger has always believed in holding an ultra concentrated portfolio and in his Investment partnership used to borrow as much as possible to boost returns. This is something that both Munger and Buffett have warned against doing when asked at the Berkshire Annual meetings!

[ClemensAlive]

Thank you! What a great video documentury.

[jwljwug]

The fact that both came out of the same town and worked in the same store and still found each other is mind-blowing. Imagine how they talking about past and found out both did

[chandra]

Rip munger His learnings will be there forever

[kkybaggy]

Don't forget that Charlie Munger and Warren Buffett invented the idea of investing and buying at both market highs and lows. As Warren Buffet noted, he has witnessed this occur frequently during his life. I'm not a trader. Never did my husband and I make more money than others in the middle class. With a $4 million stock portfolio, we intend to retire at age 58. Never have we ever sold even one share of stock...

[barnazadori]

Quality video my friend. I could tell it from the first 3 minutes by how you introduced the rough path Charlie Munger took to get his first 1 mil. Now I'm continuing the video :)

[Goodnewsglobal]

You should do more interesting videos about how people made thier first million. Always inspiring.

[jeanpolice]

Nice work ! You are changing life with your great quality of work !! * Make Munger model * Take care 👍🏿 ⭐

[christopherwilcox]

MAKE MUNGER’S MODELS!

These “First Million” videos are top notch!