Collection: Charlie Munger - #241 | How To Become a Great Investor?

[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/S9HgIGzOENA)

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[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.