How Charlie Munger Made His First $1,000,000
794,596
Published 2021-03-21
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.
---
My main tool for fundamental screening and analysis of stocks: app.tikr.com/register?ref=tsi
(If you sign up I earn a small commission)
---
How Warren Buffett Made His First $1,000,000: • How Warren Buffett Made His First $1,...
---
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)
---
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.
All Comments (21)
-
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) Charlie Munger's Mental Models: https://youtu.be/ywyQ_eNNCJU
-
Make mungers model. This Man is a genius. He improved buffet and graham's model. Which drove fundamental analysis..
-
Rest in Peace
-
My guy is a physicist, economist, lieutenant, hamster collector, investor, and a lawyer
-
More Munger and Buffett videos please. Keep them coming. Great stuff.
-
Make Munger's models! ❤
-
Interesting video! Like the rest you make. Keep going! Would be interesting if you could do something on Munger’s models. Thanks!
-
17:07 "Intelligent people make decisions based on opportunity costs." -Charlie Munger
-
Awesome video. Probably my favourite on here and I've watched a tonne. Make Munger's models please
-
Kid`s death is the biggest setback anybody can ever have!
-
I love your animation and story telling. Will you share with me what tools are u using and how you did that?
-
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!
-
Nice work ! You are changing life with your great quality of work !! * Make Munger model * Take care 👍🏿 ⭐
-
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 :)
-
Thank you! What a great video documentury.
-
I never miss your videos. Love your videos. Please make one on mosaic
-
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.
-
Loved the video, so much interesting information. Appreciate the time you spent on putting this together, pieces from books, snippets from here and there, it must be an insane amount of work! Thank you very much!
-
Always consistent brilliant content!! What software do you use for creating your video im looking for something similar for work 🙂
-
I wanna know how much time you put in making these videos they are perfect even the adds appear at the right time for example when you said like and comment an add came to give us time to like and comment without missing a part of the video.
