Charlie Munger - The Man Who Built Berkshire Hathaway | A Documentary
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- Опубликовано: 20 янв 2021
- Charlie Munger perhaps is the man most instrumental to Berkshire Hathaway’s success. In this mini-documentary, we tell the story of life and how he went through the great depression, made millions in real estate, and helped Warren Buffett build Berkshire Hathaway.
My research for this video mostly comes from this book - amzn.to/3o5DGE0 (Damn Right).
Hardware - I used my Alienware Laptop (amzn.to/3htVJSU) and Nvidia Quadro p6000 in a Razer Core GPU Enclosure (amzn.to/3aTSrqN).
Music - open.spotify.com/artist/5dzPV...
Visit finaius.com to access our research model for capital markets.
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#hedgefund
Chapter 1 02:03 - Forged by the Great Depression
Chapter 2 07:37 - First Million in Real Estate
Chapter 3 13:50 - The Cash Flow Business
Chapter 4 17:11 - Elephant Hunting
#charliemunger #warrenbuffett
![Eminem - Houdini [Official Music Video]](http://i.ytimg.com/vi/22tVWwmTie8/mqdefault.jpg)
To prep for this video, I found this book to have the most detailed information about Munger. - amzn.to/3o5DGE0 (Damn Right).
Chapter 1 02:03 - Forged by the Great Depression
Chapter 2 07:37 - First Million in Real Estate
Chapter 3 13:50 - The Cash Flow Business
Chapter 4 17:11 - Elephant Hunting
Poor Charlie's Almanack is far superior.
Great video mate, a very good review on Charlie Munger.
Joing a value investment fund? Ok what are you talking about??? That is incorrect.
через месяц посмотрел - ну вот, чисто, больше не пишет
AMz K121 Well, maybe so about Munger. Nevertheless, we can learn from his experience. He didn’t always have it easy so I can understand why he wanted to be rich after his problems in life. Of course people count, too.
Munger and Buffett have both achieved an incredible feat with Berkshire. They've turned thousands to billions, and have made a lot of people wealthy in the process. I really saw the potential of the stock market by reading Berkshire's annual letters. I recently sold my $674k apartment in the Bel Air area and I'm hoping to throw it into the stock market. I just don't want to lose everything.
Most people either do not understand the power of compound interest, or are just impatient. For the average Joe, however, I think it is just best to invest in the S&P 500, and just wait, which is reliable, albeit extremely long-- lots of years. Or just use a professional analyst and speed up wealth creation. Most people underestimate the power of the latter.
I agree with you. I started out with investing on my own, but I lost a lot of money. I was able to pull out about $200k after the 2020 crash. I invested the money using an analyst, and in seven months, I raked in almost $673,000
I'm actually interested in this idea of investing through an analyst. Sounds like the most sensible thing to do in the market right now. Could you give me a pointer to who you work with, please?
I personally work with ‘’ Vivian Carol Gioia'' she covers things like investing, insurance, making sure retirement is well funded, going over tax benefits, ways to have a volatility buffer for investment risk. many things like that. Just take a look at her full name on the internet. She is well known so it shouldn't be hard to find her.
Thank you. I just checked her out now and I've sent an email. I hope she gets back to me soon. I've been thinking of doing this for a long time now, and I've procrastinated enough already.
Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Instead of trying to predict and prognosticate the stability of the market and precisely when the change is going to happen, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every 7week these past 4months according to Bloomberg.
That’s crazy, I’m just doing everything wrong with my portfolio.
very true, I started investing before the pandemic and that same year I pulled a profit of about $600k with no prior investing experience, basically all I was doing was seeking guidance to make a from a financial-advisorr, you can be passively involved with the aid of a professional.
Same here, 75% of my portfolio is in the red and I really don’t know how long I can stomach the losses. I’m beginning to reach a breaking point.
wow ,that’s stirring! Do you mind connecting me to your advisor please. I desperately need one to diversified my portfolio
The adviser I'm in touch with is *Jude Ryan Mcdonough* He works with Merrill, Pierce, Smith incorporated and interviewed on CNBC Television. You can use something else, for me his strategy works hence my result. He provides entry and exit point for the securities I focus on.
What a legend! RIP.
One thought is to buy the dip and then wait to break even, another thought is: Will buying low during a recession work if I'm retiring in the next 3years, I'm no way near prepared for retirement and I just need strategies to scale up to atleast 2million by the time I'm set to retire
I can’t focus on the long run when I should be retiring in 3years, you see I’ve got good companies in my portfolio and a good amount invested, but my profit has been stalling, does it mean this recession/unstable market doesn’t provide any calculated risk opportunities to make profit?
There are a lot of strategies to make tongue wetting profit especially in a down market, but such sophisticated trades can only be carried out by proper market experts
@Dan Brooks I’ve been down a ton, I’m only holding on so I can recoup, I really need help, who is this investment-adviser that guides you?
@Dan Brooks She appears to be well-educated and well-read. I just ran a Google search for her name and came across her website; thank you for sharing.
Scambot
There’s always that 1 quiet guy with an epic story who appears out of the shadows and turns out to be the heart and soul of a legendary company. Today I learnt about Charlie Munger, thank you.
@Evan HodgeTo learn about the existence of someone I never knew about in the BH timeline is a pretty large fragment in my book.
same!
Usually inseparable with, and just as crucial as, the more-well-known founder:
Henry Flagler w. John Rockefeller & Standard Oil
Paul Allen w. Bill Gates & Microsoft
more examples?
a year ago comment and they didn't respond yet lol this video maker never responds to chat lol
charlie munger is a badass, very respect him and learned a lot from him, thank you for this video author
He might he’s definitely one of the sharpest 97 year olds out there
Charlie Munger and Warren Buffett's voices are twins. Wow!
I know right?!!
@@amishparadise1924 what the hell are you on about!? There is no shame in wanting to be rich to provide for your family. It is possible to become wealthy and be a good person. He fought for his country in the Second World War to protect the people in it, he went through 2 depressions and suffered poverty. He even said that he hated a business model where someone has to fire people, that’s why he did things different. I guess you don’t even know how much they donate on charitable causes. On what basis do you say that he values money more than human life?
We never would have got to the current situation the West is in if we hadn't surrendered our manufacturing industry to the East and instead pushed our young people into aspiring to be a nation of speculators instead of actually producing something of value with their hands
@@amishparadise1924 So he scales in a capitalistic economic structure, gives over 100 million in his philanthropic journey and he is soulless? Don't confuse ambition and tenacity with a lack of empathy.
Charlie is the underground GOAT of investing and intellectual thought in general. Big ups to the big homie!
Listening to Charlie is more valuable then an MBA. Brilliance-great job Rocky!
Nicely done. Really enjoyed this mini doc! Keep them coming.
😲gaarrrrrrry love your content🤗
What a pleasure! Thanks!
Agreed ... good overview and background about Munger.
I’m legit impressed by the production quality of this video, I bet you’re only going to get better. Keep the content coming, make one on Joseph Kennedy and Jesse Livermore
Thanks!
This is by far the best story telling of how the two legendary investors came to huge success. Thank you !!👍🏼
My guy was faded up in that video image. 😂
This guy is a living legend.
We need to listen to every word he has to say. Sure some stuff he says is outdated. What do you expect he's 100 years old. But we won't have his 100 years of wisdom around for much longer. Not many people alive that have lived through what he's lived through and can sit in front of a camera and tell us about it.
Yeah out dated to you. Everyone in our generation thinks the old way of thinking is “outdated” but the fundamentals NEVER change, never.
You and the rest of our generation think working hard is outdated, you think values and morality are outdated.
You all want to learn the hard way. That’s fine with me, it’ll take you longer to catch up to me simply because I focus on fundamentals in all aspects, work, family, investing, values, morals, etc.
That’s why I’m in the top 20-30% of earners with only a Highschool diploma, and debt free.
I have all the FREE RAM to focus on mine and my families future.
You all think because we live in modern times there’s such a thing as a free lunch.
How’s that student loan, car debt and credit card debt working for you?
Everything I earn is MINE and my families, not the debt sharks that tricked me when I was 18-20.
Good luck to ya, you don’t even know how infrastructure works, so you’re going to really need it.
@@xman666soad yeah I'm not reading your little rant. Especially when the first 2 lines are you pretending to know me. You don't k own a thing. Telling me I don't believe in hard work? I've been starting and running businesses since I was in high school.
I'm a fully ticketed carpenter, landscaper, scaffolder, baker and chef. Currently own my own restaurant and operate heavy equipment at the local pulp mill.
And alot of what he says is outdated cause he doesn't know modern technologies. And he's the first to admit he knows nothing of big tech.
You wrote this two years ago age of him 97 years old
@I am A smurf ever heard of rounding up? The point is the man's ancient and has accumulated more knowledge than me and the majority of people that tune in to watch videos of the man to try and steal a bit of that knowledge. The man's lived multiple lifetimes of most people.
Thank you for this. There are so many interviews & documentaries on Warren but not enough on Charlie. 2 great men whom I look to for guidance personally.
i love the finale song.
he's definitely in the ranks of Vanderbilt, Rockefeller and JP Morgan.
Haha yeah. I had my friend did the cover for that song.
Charlie my guy. Impressive. Glad to have worked with you!
FINAiUS is going to blow up soon, love his production skills!
This is a well-written youtube doc. Thanks for posting!
Charlie Munger is truly a living legend and wealth of knowledge. 100 years of life and an immense amount of knowledge to pass along. I wouldn't however downplay how important Warren Buffett is; he is more than just a nice guy. Also, when has having a father who is a Harvard law graduate and successful lawyer ever been middle class. Let's be real, he came from a wealthy family. The guy is extremely successful and went through hardship, but let's tell the tale honestly.
Buffett is actually a ruthless business man but cares what you think so everyone knows him as a nice guy... the revenge stories Warren has
The mid 20th century is not the same as today, they were actually middle class, today successful law firm associates are in the top of the middle class.
Middle class by the way is $60k/yr-$200k/yr, keep in mind having a family is expensive and if you are bad with money you will barely have anything left at the end of the month because people are terrible at budgeting/managing money, idc if they’re making $100k/year if they’re not putting money away they’ll be poor forever.
And his dad was a congressman
I never thought I'd see a young Charlie Munger...a true titan
YES! Have been studying Charlie Mungers work intensively in the past months so this comes at a perfect time. Thank you!
How have you studied his work? Can you give me some examples? Is it books, the shareholder letters from Wesco, etc, etc. Would love to hear about as many resources as you can give me if you have the time to do so : )
@@radigeorgiev9662 Good question!
The core of it would be the book "Poor Charlie's Almanack" and his lecture on "The Psychology of Human Misjudgement". Besides that there are some amazing interviews he did at Caltech, Michigan Ross and his commencement address at USC on RUclips.
Lastly, yes the Wesco, Daily Journal and Berkshire shareholders meetings are also a treasure trove. :)
Hope this helps!
@@carlolepelaars Thank you for the info, I didn't know at all about the Daily Journal. So happy to invest time into the resources, thank you for the reply : )
What your opinion in assimilating his success?
@@wardogmobius I think it is important to revisit the concepts that Charlie Munger talks about once in a while, especially when you are feeling stuck and/or confused. A lot of his concepts are straightforward, but can take quite some time and work to integrate in your daily life. I would take care to avoid the pitfall of saying to yourself "Now I know this or that, so I don't have to study it anymore". Hope this helps! :)
Awesome videos brother! Love you’re content! Thank you for making it for us all to see!
this channel is a hidden gem. keep up the good work
I now have a whole new focus and greater respect than ever for Charlie Munger. I have had it for Warren Buffet but now I see the other side of why the golden pathway of Berkshire Hathaway was created.
Best documentary of the year, good job with the edits and entrepreneurs you've brought in to simplify the content
Once I heard him say Charlie was the sharpest sword ever built red flag flew up everywhere.
This is such a great video!! Really enjoyed it, watched it from the beginning to the end!
Top 10 best videos I've watched on youtube. You did a really great job Sir! 😊
This was well done. Thank you for your hard work.
your documentaries are exceptional! from information to graphics, soundtrack, story telling and video quality! congratulations for the entire work! please continue the series!
I began investing at the age of 33, primarily utilizing my hard work and dedication. Now at the age of 38, I am delighted to share that my passive income exceeded $100k for the first time in a single month. This advice is truly valuable, so don't hesitate to take action. Remember, it's not about achieving wealth quickly, but rather about building wealth consistently and persistently.
This is superb! information, as a noob it gets quite difficult to handle all of this and staying informed is a major cause, how do you go about this are you a pro investor ?
I understand the uncertainty of tomorrow, and I agree that starting to invest today can be challenging, especially without a clear understanding of where and how to invest. Since I've personally tried navigated the path to passive income, I'd be delighted if you can offer me some guidance based on your experiences that help you embarking on your own journey towards financial security.
I never expected it, but after closely monitoring my portfolio's performance, I was astounded to see it generate a staggering $473k in just the past two quarters. This eye-opening experience has given me insight into why experienced traders can achieve remarkable returns even in lesser-known markets. Taking this leap was undoubtedly the boldest decision I have made recently.
That's impressive! I could really use the expertise of the advisor, my portfolio has been stagnant.... Who’s the person guiding you?
The Adviser I'm in touch with is *'Nolan Velden Brent'* , He works with Merrill, Pierce, Smith incorporated and interviewed on CNBC Television. You can use something else. for me his strategy works hence my result. He provides entry and exit point for the securities I focus on.
I keep coming across the following ideas/skills time and time again when looking into the very rich:
* Business is the best route for building wealth.
*Investing is the best route for preserving it.
* Physics thinking, principals thinking and working off the fundamentals is key for both.
* Strong risk analysis skills and decision making are needed.
Preach!
This was a great video, there should be more content out there about Charlie Munger.
This video is SO UNDERVALUED. I wish I could buy stock in it. Outstanding job! Thank you for your great work.
Love your videos. So glad I found your channel!
Man, these video biographies are excellent! So interesting.
Charlie Munger is a LEGEND..
Here from the Steve Schwartzman video this channel is way way way underrated and deserves way more subscribers!!!
I just watched this now.. Kudos to this wonderful production, very well made.. 😁🙌🏼
I didn't know about his tough early ages. Great documentary, thank you.
thanks so much for this video, incredible story and well told.. very appreciated
Glad you enjoyed it!
great work! interesting to get more aware about the lesser known characters behind big businesses.
Thanks for the updates and lots of love and blessings 💞
Excellent job on putting the video together had me hooked from the start!
You are great at storytelling, keep going!
They should be running our country. Gratitude, responsibility, appreciation, systemic discipline & abstract objectivity. Brilliance & success created in a boiling pot of necessity.
Really well done video! Didnt know this much about Munger before
Fantastic information! Thank you for this!!
Great profile of Charlie. He's an inspiring man.
Nice to see some old photos not found in his books. He's a wise man beyond business success.
Great video- thanks for posting!
Thanks for preparing this!
WOOOOW! Man you did an amazing job on this documentary. You are truly gifted sir!
Thank you. That warms my heart.
I am very impressed with your story telling. You deserve a medal of honor sir. Keep these video's up. I am more then delighted to watch them all, and it gives me all the motivation to work my way up in this financial sector.
Excellently put together documentary. Well done!
Your story (writing skill) and narration is a truly first-class stuff
awesome video. awesome presentation. awesome song at the closing for an awesome human being. if i could, i would give you 10 years of my life and i know you will make every second of it worth living
Finally, sơmeone did a video on Charlie Munger...
You are a legend!!! These videos are incredible! This one is particular is 🐐🔥
Great video thanks for making this gem
a lot of quotes from Charlies Almanac, great video :)
@@amishparadise1924 read his book, its not a good idea to judge someone from these business settings.
написали - счастливо женат, 5 детей, 2 детей уже имеют внуков, буржуй - с дачами на островах и в люксембурге
@@amishparadise1924 The only problem with your statement is that it appears to be totally incorrect and a soulless attempt at defamation of character without proof.
@@amishparadise1924 completly wrong, he have much less money than warren cuz he wanted to donate it all in living and watch ppl benefict wih that money, than give it afer life.
@@amishparadise1924 It's amazing how far people will go to talk out of their ass while being utterly clueless.
Buffett is very ruthless behind that smile---well done!
Wow. Thank you for creating this.
FINAiUS, you are amazing ! Great work !
I wish and pray long life to both the icons 🙏 Love the content, love from Mumbai
FYI I just subscribed. Charlie on the throne is next level comedy!
Hahaha
Thank you for the video!
Great video! Thanks for this.
Grandfather was federal judge, father went to Harvard Law, he went to Harvard Law... these are not exactly "tough beginnings."
@@Billpeterson4785 They were never cheap, did not allow Jews, blacks, women, and you moved in and among a plethora of WASPy elite clubs and high society so your kids could go to the right boarding schools, make the right connections, know the right wines, and repeat the process. In fact, Munger was rejected from Harvard Law initially. The dean relented and allowed him in because the former dean was buds w/ Munger's dad and gave a him a call. OLD BOY'S CLUB, WHO YOU KNOW, CONTACT BUSINESS. IN FACT, MUNGER NEVER EVEN GRADUATED UNDERGRAD COLLEGE, HE DROPPED OUT OF U OF MICH!
As to cost, just Harvard the undergrad school was $525/yr when Munger was hustled into Harvard Law. in 1947 because O YOUR DADDY IS ALFRED MUNGER, COME RIGHT ON IN!.
You could buy a house for $600 then. The median price for a house in America in the 40s was just under $3000, which means your undergrad tuition (also, did this include room and board, food, travel?) was equivalent to a nice two-story home in some place that mattered.
As to the lawyer comment, "most lawyers" don't come from Harvard Law, much less their father's and grandfathers. "Most lawyers" are not admitted into Harvard Law when they don't even have a degree, and "most lawyers" don't have a former governor for a pawpaw.
In fact, I don't even buy the ridiculous assertion that "most lawyers made as much as postal clerks." That's history for the mentally challenged.
You did a very good job with putting this together. I've always found the Berkshires annual shareholders meetings as timeless wisdom both entertaining and best of all educational. Whenever Mr. Munger answers a question he tends to go straight to the point and tells it the way it is, no matter the subject he always seems ready for anything. Thank you again and wish you the best with your channel.
Thanks 👍
Another Amazing video! Well done sir ! 👏
Oh my brother you are a thing of beauty. Beautiful. Thanks again for this
Sometimes when a celebrated name came up, Dad would ask, "What has he done?" His question was at times disconcerting when you just wanted to continue the flow of a conversation. Still, Dad made his point.
At the end of this video, I asked myself why I should remember Charlie Munger. We've all heard of Warren Buffett and Berkshire Hathaway: always makes me think of Jane Hathaway from "The Beverly Hillbillies" - and a swank, California-based investment firm.
But these guys come from Nebraska - and I never knew of Charlie Munger before yesterday, scanning videos.
So, what has Charlie Munger done? He's a lifelong friend of Warren Buffett and the visionary lawyer/entrepreneur who helped Buffett "scale" the enterprise to become one of the celebrated investment firms of our time. Munger's a hard-nosed, no-nonsense guy who's lived through depressions, wars, personal tragedies and he's kept on steppin' believing in treating people right.
Ok Dad
I enjoyed this greatly! Thank you! 👏👏
great documentary indeed, keep it up
Captivating! Great work!
Quite a misleading title of this video. It is without doubt that Charlie Munger is one of the finest minds in the world of business, but the legacies of both men are inseparable when talking about Berkshire Hathaway. You cannot talk about Charlie Munger without talking about Warren Buffet when considering Berkshire’s rise as clearly evident in how the content of the video eventually proved. Both men struck gold in each other, when they partnered up. Each brought a unique set of skills and insight to the table that compliments the abilities of the other. Their legacies are intertwined and it is as such intellectually dishonest to attempt to attribute Berkshire’s success to only one person and I bet either man will gladly agree. Great video though!
This is true. The way I see it, buffet is the CEO of Berkshire which is no doubt a position that he pilots incredibly and Berkshire will miss him dearly when he’s gone. It will be be tough shoes to fill. However, I have a particular interest in Munger because the way I see it is Charlie is the architect who designed
Berkshire. And Berkshire is a wonderful peice of art indeed.
The title is for marketing purposes. That is what brought you to watch It😁. By the way, he mentions Buffet in the Video.
I’m more impressed about your ability to write in such fabulous way
They wrote an 800 page on exactly what you said called The Snowball. I read it. I understand your passion towards their partnership and friendship.
The title is A man not THE man.
He wanted his own money; his own independence.................enough said!
from the UK, great video thanks, fascinating man
i love the video dude, thanks!
Thank you so much for making this! Well done! I am a HUGE fan of Charlie Munger!
где была егоная француженка неясно, сказал что поехала смотреть водопады
RIP to the man who has taught me a lot about investing!
Like how you put him on the GoT Throne. Phenomenal documentaries, thanks for the content.
What a beautiful story. Thank you
You can tell when Charlie is enjoying himself by how far he is slumped in his chair
Munger is a rolemodel for any investor
Very good video, I thoroughly enjoyed it.
Another excellent episode. Thankyou.
Damn this is Gold
What a great video. Excellent editing and content. I truly enjoyed this. Looking forward to more of your content.
она мне - к друзьям детства ревновать глупо
Great documentary - well done.
Incredible job with this video 👍
Charlie munger looking fresh AF back in the day with that thumbnail
Fun fact: Charlie has been forever old
Thats why I had trouble getting his young photos.
ушла в несознанку. вгрит, не знаю, о чем ты.
@@amishparadise1924 Fun fact - there's no such thing as soul )))
@@amishparadise1924 how the heck did you come to these conclusions? I mean what facts are there that illustrate these traits about the lad?
Thanks for making such an informative video.
Amazing underrated channel thanks for the great content
That thumbnail is priceless! 🤣
Rocky your videos are getting better and better. Thank you!
😊
Great video.
Keep up the good work.