Collection: Charlie Munger - #54 'How To Tell Whether A Money Manager Has The Right Integrity?'



[Transcript]

AUDIENCE MEMBER 00:08

Basically, a lot of people ask you about, how you determine what investment or deal to do, and you tell people that you can do this fairly quickly.


My question is how do you tell like for example, when you look at a money manager or management of a company that you're investing in, they have the right character or the right integrity? How long does it take you to do that and what are some traits that you look for?


CHARLIE MUNGER 00:32

Well now that I found Li Lu I don’t look for anybody else. So I’m the wrong person. What are my chances I’m going to get somebody better than Li Lu. That's why it’s very easy for me. What you need is a Li Lu and I don’t know how to get you one. (Laughter)


(Source: https://youtu.be/X1Oi3esiry8)

 

[YAPSS Takeaway]

Find Li Lu or be like Li Lu.