Charlie Munger is the right hand man to Warren Buffet at the company Berkshire Hathaway. Charlie Munger is known as being the ‘devils advocate’ to Warren Buffet, even though they share many of the same investing principles. So what advice does Charlie Munger have for the average person, and what does he look for when investing in a company?
Something Charlie Munger does before investing in any company is learning EVERYTHING there is to know about the company. There are many stories of Charlie Munger and Warren Buffet physically getting up and going to go visit the offices, stores, factories, etc of the companies they are going to invest in.
Finding a partner is a key aspect of starting a business, especially if you do not have all the tools that are needed to run a company. Along those same lines, Charlie also talks about how some people are inherantly not good #1’s at companies and are more suited to be #2’s 3’s and 4’s etc. After all, even though Mark Zuckerberg is the head of facebook, the #2-5 employees all ended up becoming billionaires.
Some other quick tips that he likes to talk about is how you will never be able to catch all the good investments, never feel sorry for yourself, always keep learning, and start you dream life right now!
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