Charlie Munger on How to Become a Great Investor? | Caltech 2008 【C:C.M Ep.241】

 

[Transcript]

AUDIENCE MEMBER: Hi, my name is Brett Harkenov. I wanted to know what you think the most important career or academic experience a young person could get today would be to become a great investor in the future?

 

CHARLIE MUNGER: Well, I think it helps to have a generalized competency in dealing with words and numbers and quantities and concepts. And of course, it helps to practice with that competency.

 

And then, if you collect follies, the way I do, and stay away from the follies. When you're as old as I am, you'll be a rich old man.

 

And by the way, I'd rather be you.

 

(Source: https://youtu.be/4ibabROYccs?si=AGQznfOPmt9tv3yg)

 

[YAPSS Takeaway]

To be a great investor, first learn how to deal with words and numbers. And then keep learning while practicing what you had learnt. And be a collector of follies, and stay away from it. Then you might be richer and wiser as you get older.