Hide

FocusBar

Subscribe to Premium Member
Free 7-day Trial
All Articles and Columns »

Charlie Munger Lecture at the Harvard-Westlake School

October 17, 2012
Dividend Growth Investor

GuruFocus

214 followers
Santangel's Review: Charlie Munger needs no introduction to readers. Without veering off too much into hyperbole, Munger is truly one of the great minds of our age. He is the rare combination of incredible intellectual firepower, accumulated wisdom, and more than a dash of a willingness to speak his mind. His various speeches and talks have been compiled in books and on the web. These commentaries are some of the most insightful things you can read – both in terms of investing and life. They are treasures – examples of what a life spent learning can produce and lessons in how to think the right way. Unfortunately, as Munger approaches his 89th birthday, he is tapering down his speaking and sadly his yearly Q&A at the Wesco Annual Meeting is no more. We are left to glean insights from his past speeches and whatever he may say at the Berkshire meeting in between his famous “I have nothing to add” comments.

For the past several years I have had in my possession a video of a talk that Munger gave in January 2010 at the Harvard-Westlake School in Los Angeles. In it, he diagnoses the cognitive failings of various professionals and academics that contributed to the financial crisis. It is classic Munger – insightful, funny, and just dead-on. As far as I know, this presentation has been seen by only a handful of people.

Munger Talk at Harvard-Westlake

H/T to Santangel's Review »

Track Gurus’ Stock Purchases Daily – Real Time Guru Picks

GuruFocus "Real Time Picks" reports the stock purchases and sales that Gurus have made within the prior 2 weeks. The report time lag can be as short as 3 days after the date of the transaction. This is just one of the features provided with GuruFocus Premium Membership.

Click Here to Try It Free!


Rating: 4.1/5 (27 votes)

Comments

vgm
Vgm - 7 months ago
"He is the rare combination of incredible intellectual firepower, accumulated wisdom, and more than a dash of a willingness to speak his mind."

This is a brilliant description of Munger.

Thanks for posting!
JosephWen
JosephWen - 7 months ago
Wow ... nice lecture ... concise and to the point ...
If you like this, you should check out his book. poor charlie's almanack
davidm1
Davidm1 - 6 months ago
I am a big fan of Munger- read Poor Charlies, Damn Right, Wesco shareholder letters, his lectures etc.. Brilliant. But a thought recently came to mind: Warren Buffet would most likely probably still be a mult-billionaire, top 10 in the world if he had never met Munger, and Munger would have still probably been rich, but no where near where he is now. Just a thought I had.
batbeer2
Batbeer2 premium member - 6 months ago
>> Warren Buffet would most likely probably still be a mult-billionaire, top 10 in the world if he had never met Munger, and Munger would have still probably been rich, but no where near where he is now. Just a thought I had.

There are nine superinvestors. The one with the best record is Rick Guerin. He is alive and very well. He used to be Charlie Munger's friend. Now he is Buffett's friend as well.

So why is it that Buffett is the richest one in that group?

Buffett started investing seriously in the forties. He was in his teens.

Rick Guerin and Munger started a couple of decades later. At 20% per annum, your asset base will be somewhat smaller than the asset base of someone who started twenty years earlier.

In short, the size of the asset base is not the best way to judge investing ability.


BTW, thanks for the transcript!

Please leave your comment:


More Gurufocus Links

GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)
Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names
Free 7-day Trial
FEEDBACK

This article has been successfully added into your Bookmark.

Members Only. Please Sign Up or Log In first.

Bookmark of this article has been deleted.