Which of the 5 mungerisms could you relate to?

@CleverContrarian

5 ай бұрын

All of them *puts his money where his mouth is*

React with equanimity - it’s not just true in investing, it’s a lesson for life.

@MeaningfulMoney

7 ай бұрын

Isn't it just - great point!

I love watching Charlie’s interviews 😊🤍 bless him

My fave was the one widely used in his passing. "The best armour of old age, is a well spent life perfecting it." RIP Charlie.

Brilliant video Pete - we love all 5! They should all be taught at school in order to give kids the best possible chance of capturing them.

You’re an amazing communicator! I’m so glad I found your channel and hope it increases in popularity ❤

@MeaningfulMoney

6 ай бұрын

Thank you!

These are excellent 👌 My favourite is..."in the waiting"

Love this video, Pete. Incredible wisdom from an incredible bloke! Building wealth is simple - but NOT easy.

Great video, reinforces my mind set 100%. This should be taught in schools. Keep up the good work ❤

I think keeping skin in the game is very important. Saying that, at times of panic it’s difficult to see this for many

Great video Pete as ever clear and to the point 👍

Munger was a great observer of human nature. I wish I'd met him.

A word of wisdom from me. Save and invest, have great plans and eventually you’ll likely end up handing it all across to greedy elderly care home owners. 👌

@chrisdaviesguitar

7 ай бұрын

or the kids

@kw8757

7 ай бұрын

Yep, sometimes I think the people who just piss it all away are the ones with the right idea.

@johnboyginger

7 ай бұрын

@@chrisdaviesguitar that’s what I thought until a week ago mate. My dad has to go into care and the costs are unreal. He may live a month. He may live 10 years. At £1500 per week (!!) only people with a huge amount put away will be okay. Otherwise it’s a shitty council run hellhole.

@Lovemy911

6 ай бұрын

​@@johnboyginger your correct,not that much to look forward to is there ! 😣....god bless our Govt ..👎

@shellyperera2010

6 ай бұрын

That's £70k a year! What do you get for that?

I love this video. Thank you so much.

@MeaningfulMoney

7 ай бұрын

Thank you for watching! 👊🏻

another great video, between you, Shack, Ramin and Damien. certainly learning lots.

@MeaningfulMoney

6 ай бұрын

Brilliant - all great creators. Learn, then do - it’s the only way!!

Great video Pete.

@MeaningfulMoney

6 ай бұрын

Thanks 👍

Thanks Pete, Mungerism #1 for me 👍

@MeaningfulMoney

7 ай бұрын

I think that might be my favourite too…

As Pete said..........and we do need reminding of this......"Keep going and hold your nerve". Use that for host of other reasons.

Hi pal just stumbled across your channel and now working my way through all your videos. Love them! I know in the uk we can invest £20k a year tax free in ISAs but what if you have a lot more to invest ? How would you invest then ? Thanks

@MrDuncl

6 ай бұрын

£60K into a pension ?

@ridethelakes

4 ай бұрын

SIPP

@MrDuncl

4 ай бұрын

£50K in Tax Free Premium Bonds. Of course whether that helps much depends on what you mean by a lot more. @ridethelakes. Yes I meant a SIPP. However, you would need to earn £60K to invest £60K in one. Actually it would probably be best to only invest £45K to ensure you had a years National Insurance recorded.

#5 for me, trying not to be stupid!

@MeaningfulMoney

7 ай бұрын

A lifetime's work!

No 5! General life still i feel

@MeaningfulMoney

7 ай бұрын

Aye, indeed!

What a name...Outstanding

@MeaningfulMoney

7 ай бұрын

Legend

Brilliant stuff can't beat a bit of Charlie.....that didn't sound right, he probably had an IQ of about 180 points, but he knew that he didn't need about 60 of those points. He spent his life saying that investing is really really simple, if not easy, and that most average people could do very well out of it, you are correct he concentrated more on the investor than the investments, and just let time do the rest. What a great guy he was.

@MeaningfulMoney

7 ай бұрын

He'll be missed, for sure...

I’d like to have heard a conversation or even a podcast of you and Charlie discussing the future of cryptocurrency because don’t I remember you saying you hold a percentage of your portfolio in it? Yea and if you knew Charlie he thought the opposite. But I suppose I can see it from both sides. He was from an even older school than you

@MeaningfulMoney

6 ай бұрын

I have a tiny amount in it, more for fun and because I wanted some skin in the game before I felt able to comment. I don’t think it is yet anything other than a punt - it’s not an investment in the true sense of the word.

@ridethelakes

4 ай бұрын

Crypto is a Ponzi scheme relying on more fools to keep it going. People think because it has been going on so long with incredible growth that it's somehow different, but they underestimated the number of fools there are. It will all come crashing down to zero eventually.

I'm not sure that the interpretation of Mungerism #4 is correct as he was a smarter guy than us. History books tend to show that few people take notice as far enough in advance as we could have, that most serious events are handled badly with perhaps learning for the potential next time. It's those serious events that catch us out and are not normally prepared for enough, even though there are clear warnings in advance.

@MrDuncl

6 ай бұрын

Maybe he meant that the "smart" guys are the Neil Woodfords of this world.