Video Link: https://youtu.be/EDCnC2bin6w
In this episode, Charlie Munger was asked in a shorter time horizon, is this a good time to invest in the stock market?
In this episode, you’ll learn:
Is this a good time to invest in stocks?
Rudyard Kipling's poem, If.
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JACK DANGERMOND 00:00
But what about the – in a shorter time horizon, is this a good time to invest in the stock market? (Laughs)
Is a funny question is it? (Laughter)
LARRY BURGESS 00:10
CHARLIE MUNGER 00:11
Well, I am continuously invested in American equities. And – but I've had my Berkshire stock declined by 50%, three times. And I don't – it doesn't bother me that much. That is the natural consequence of adult life, probably lived. So if you have my attitude, it doesn't really matter.
I always liked Kipling (Rudyard Kipling) expressing – expression in that poem called "If." And he said, success and failure, treat those two impostors just the same. He just roll with it. Sometimes it's going for you and some against, it's all part of the same game.
And so, I think having – if you get rid of the crazy hatreds and the crazy – I don't mean you don't avoid bad people. I mean you will seldom talk to anybody who's better avoiding bad people than I am. (Laughs) I – and but I think it's okay but I don't hate him.
LARRY BURGESS 01:31
You know, this causes me gonna let –
CHARLIE MUNGER 01:34
But they won't be as good – I don't think that it's going to be as easy for the next generation as it was for me.
JACK DANGERMOND 01:42
CHARLIE MUNGER 01:42
Jack if you started all over again, you might not do as well either. (Laughter) I'm not anxious to go back and try. You want to go back to go and try again? No, we – none of us do.