Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Charlie Munger has died

berkshirehathaway.com

Post reply on HN
Print view View original

131–140 of 454 posts

Re: Charlie Munger has died

#131

Post by nradov »

truculent wrote: post #54
paxys wrote: post #46

Earlier quoted context omitted.

You have to remember that Bogle/Munger/Buffet all gained prominence when value investing wasn't a thing and investing of any kind was wildly out of reach for the common man. Today anyone can go online and buy VTI in minutes. Every financial advisor and 401k plan recommends index funds by default, and it is how the vast majority of people and organizations store their wealth. It doesn't need any more cheerleaders or i…

Value investing is “an investment paradigm that involves investing in stocks that are overlooked by the market and are being traded below their true worth”. Correct me if wrong, but I don’t think index funds come under that paradigm.

I think the larger point is that public capital markets have become steadily more efficient. There are no "value stocks" anymore because nothing is overlooked by the market, those old opportunities have been arbitraged away. Modern computing systems have made it practical to look at every stock every day, so all stocks now trade at their "true worth" because all publicly available information gets instantly priced in.

Now pretty much the only way for investors to (legally) beat the market is to do proprietary research in ways that others can't easily copy. You need information that no one else has.

Re: Charlie Munger has died

#132

Post by _uoud »

loganfrederick wrote: post #5

A legend of the business and investing world. Acquired podcast got to do one of (possible the) last interviews with him a month ago for anyone looking for recent content from him: https://www.acquired.fm/episodes/charlie-munger Also Stripe Press is releasing just next week a book (technically re-release of an older book) on his collected thoughts: https://press.stripe.com/poor-charlies-almanack

This is one of his greatest. I wrote a nice summary of Poor Charlie’s Almanack back in 2021 which I’ve occasionally kept coming back to. I think today I‘ll revisit it with a sense of emptiness inside me. I’m sharing it here for others to enjoy: https://www.lostbookofsales.com/notes/poor-charlies-almanack...

Re: Charlie Munger has died

#134

Post by zafka »

It saddens me that he is gone, but I am glad he lived the long good life that he did. I first started reading his "Psychology of human misjudgment" around 10 years ago. I try to reread it every year. Whenever I see a young person who appears to have a little drive, I recommend that they read the speech. I really wish I had run across these concepts when I was in my early twenties, but I am still grateful that Charlie packaged them up for me. I hope everyone here takes some time and reviews this list, and then takes up the assignment and peruse some of the other literature in the field.

Re: Charlie Munger has died

#137

Post by _zoltan_ »

kypro wrote: post #122
davidivadavid wrote: post #97

Earlier quoted context omitted.

That tells you about as much as you need to know about the guy, doesn't it? Incredibly successful, and yet a penny pinching tasteless bore until the bitter end. At least "robber barons" of the past built things that looked good. That he's worshiped around these parts of the internet is truly embarrassing and sometimes makes me question how I ended up here.

I actually agreed with his reasoning on this and don't think it was motivated by greed at all. Firstly it would have been cheaper for the students. But secondly and more importantly, the buildings did have windows, it was only the dorms themselves which didn't, but the reasoning for this was that were primarily built for sleeping so he argued they didn't need windows. And not requiring windows meant that each student…

have you ever been to a dorm? do you think people just sleep there?

especially a couple thousand people?

Re: Charlie Munger has died

#139

Post by gooeykabuki »

loganfrederick wrote: post #5

A legend of the business and investing world. Acquired podcast got to do one of (possible the) last interviews with him a month ago for anyone looking for recent content from him: https://www.acquired.fm/episodes/charlie-munger Also Stripe Press is releasing just next week a book (technically re-release of an older book) on his collected thoughts: https://press.stripe.com/poor-charlies-almanack

FYI - There is also an audiobook version on audible with the Stripe Press release of Poor Charlie's Almanac.
Post reply on HN