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CM
Charles Munger
07/21/21
@ Life Stories
The record of Berkshire Hathaway and Warren Buffett is based on continuous learning from every experience, which has improved our investment strategies over time.
Video
LS
Charles Munger Interview: The Power of Partnership with Warren Buffett
@ Life Stories
07/21/21
Related Takeaways
CM
Charles Munger
07/21/21
@ Life Stories
We started with a collection of poorly performing businesses but managed to generate cash and eventually bought successful companies, transforming Berkshire into a massive conglomerate. Berkshire Hathaway's success stems from a lack of bureaucracy, allowing for quick decision-making and adaptability, unlike large organizations that struggle to change.
CM
Charles Munger
07/21/21
@ Life Stories
Warren Buffett's decision to invest in Berkshire Hathaway was influenced by an incident where the CEO tried to cheat him, which ultimately benefited his career.
CM
Charles Munger
07/21/21
@ Life Stories
Berkshire Hathaway operates as a 'seamless web of deserved trust,' which is a powerful concept that enhances its business relationships.
CM
Charles Munger
07/21/21
@ Life Stories
Warren Buffett's annual meeting celebration fosters teamwork and collaboration, reflecting his enjoyment of teaching and connecting with people.
CM
Charles Munger
07/21/21
@ Life Stories
Warren Buffett's approach to partnerships is rooted in trust and stewardship, treating all stakeholders, including suppliers and customers, with respect and care.
CM
Charles Munger
07/21/21
@ Life Stories
I met Warren Buffett in 1959 when I returned to wind up my father's law practice, and I immediately recognized his intelligence and shared interest in successful investing.
CM
Charles Munger
07/21/21
@ Life Stories
Despite facing criticism, Warren Buffett's approach allowed him to make billions for many people, even those he didn't know, and he doesn't regret his choices.
CM
Charles Munger
07/21/21
@ Life Stories
Warren Buffett preferred to work in a solitary manner, sifting through data and thinking deeply, which he could do just as effectively in Omaha as on Wall Street.
CM
Charles Munger
07/21/21
@ Life Stories
Warren Buffett made a lot of money by buying thinly traded securities that were statistically cheap, allowing him to earn high returns on capital year after year.