RIP Charlie Munger

[karam]

He was a real one. I have watched countless videos of his roasting stupidity and irrationality and try to apply some of the learnings myself. A few that stuck with me are:

• How hard is it to be rational
• If people weren’t so often stupid we wouldn’t be so rich
• Find what can go wrong, not what can go right
• Stay within your circle of competence

 

[geoffs]

Outside of my parents and grandparents perhaps no other person has influenced me as much as Charlie.
One month shy of his 100th birthday, and whip-smart till the last minute.
RIP Charlie.

 

[Buckeyestime]

Between Charlie Munger‘s passing, as well as Jack Bogle‘s (Vanguard) a few years back, the investing community has lost two true leaders. A lot of people have vastly improved their lives via these two men.

 

[Servant King]

Well he sure chose (or rather, had it chosen for him) an interesting time to check out. Several things in the economy are right on the precipice of occurring. I can't help but wonder what he'd think of it (specifically the stock/bond/real estate megabubble popping all at once), but we'll just have to see what his buddy Warren says, and I would safely assume Charlie would say ditto on whatever it was.

RIP

 

[karam]

Well he sure chose (or rather, had it chosen for him) an interesting time to check out. Several things in the economy are right on the precipice of occurring. I can't help but wonder what he'd think of it (specifically the stock/bond/real estate megabubble popping all at once), but we'll just have to see what his buddy Warren says, and I would safely assume Charlie would say ditto on whatever it was.

RIP

13 years ago he said “if I can be optimistic when I nearly dead you can handle a little inflation”, before a mega bull run of the S&P500.

Just a month ago he said that opportunities are few and far between now compared with the 60s-70s, but they still exist.

BRK.B barely registered his passing, probably 100% priced in already. I bought some more!

Optimism is the only way forward in my opinion!

 

[karam]

Between Charlie Munger‘s passing, as well as Jack Bogle‘s (Vanguard) a few years back, the investing community has lost two true leaders. A lot of people have vastly improved their lives via these two men.

Bogle was indeed a true titan. Committed Boglehead here!

 

[Buckeyestime]

Boglehead here as well. I am on the Boglehead Forum at least once a day.

 

[ThermionicScott]

Boglehead here as well. I am on the Boglehead Forum at least once a day.

I used to participate regularly, but I found that just discussing the news and all of the funds and options out there became a huge temptation to fiddle with my investments, so I started taking more and more time away. Plus, there were a handful of members who were somewhat tedious.

 

[andrew]

Well he sure chose (or rather, had it chosen for him) an interesting time to check out. Several things in the economy are right on the precipice of occurring. I can't help but wonder what he'd think of it (specifically the stock/bond/real estate megabubble popping all at once), but we'll just have to see what his buddy Warren says, and I would safely assume Charlie would say ditto on whatever it was.

RIP

Berkshire is sitting on theur largest cash position ever, retail investors are bullish as ever, I have short positions on the S&P and nasdaq I havent closed. They were wrong about bitcoin though and missed the best performing asset in history

 

[Servant King]

Berkshire is sitting on their largest cash position ever

Using a fictional medium (fiat currency) to measure wealth is not the most ideal barometer. To quote Robert Kiyosaki, "Cash is trash!"

retail investors are bullish as ever

Historically, they often are...right before a recession. Then they get clobbered. I'm seeing a ton of parallels between '08 and now. This is yet another.

I have short positions on the S&P and nasdaq I havent closed.

Speculative paper assets requiring 3rd party performance are exceedingly risky, especially nowadays, when business is so burdened by excessive regulation. Weimar-esque inflation + people who panic easily = you know what!

They were wrong about bitcoin though and missed the best performing asset in history

"Best" is a considerable stretch. It has performed alright, for now. Intangible assets can be very volatile, especially factoring in the aforementioned strained economy. Perhaps they, like me and many others, are/were hesitant to get involved in something they don't entirely understand, a wise strategy IMHO. Which leads to something else they were wrong about: precious metals. Gold just hit an all-time high on Friday. I'm sure lots of folks, including Warren, will jump on the bandwagon eventually. Might be pretty pricey by then though...

 

[Buckeyestime]

I used to participate regularly, but I found that just discussing the news and all of the funds and options out there became a huge temptation to fiddle with my investments, so I started taking more and more time away. Plus, there were a handful of members who were somewhat tedious.

You make a great point about excessive fiddling. It has taken me years to learn how to not out think myself by trade too often. As Jack Bogle said “Don’t do something. Just stand there.”

Time in the market is more important than timing the market.