Executive Summary

Charlie Munger is by most people considered to be Warren Buffett’s sidekick. Although some might view Munger with less admiration and understanding than Buffett, Bill Gates says Munger is “truly the broadest thinker he has ever encountered”. In this episode Preston and Stig are accompanied by author Tren Griffin. Tren recently released the complete guide to Charlie Munger’s life and investment philosophy.

In this episode, you’ll learn:

  • The top three things Charlie Munger has contributed to Warren Buffett’s evolution?
  • Why Charlie Munger doesn’t look at macroeconomics when he invest in stocks, and whether or not it’s a blind spot
  • Tren Griffin’s most memorable story about Charlie Munger
  • The secrets behind the moat of Charlie Munger’s recent stock purchases
  • What “lollapalooza” is, and why Charlie Munger thinks the concept is vital for understanding the stock market…and Tupperware parties!
  • Ask the Investors: Why has Warren Buffett invested in IBM?

Books and resources mentioned in this episode

Tren Griffin’s book, Charlie Munger: The Complete InvestorRead reviews of this book

Tren Griffin’s Blog, 25IQ.com

Follow Tren on Twitter, @TrenGriffin

Robert Hagstrom’s book, The Warren Buffett WayRead reviews of this book

Seth Klarman’s book, Margin of Safety Read reviews of this book

Howard Marks’ book, The Most Important ThingRead reviews of this book


Charlie Munger and Warren Buffett

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  download-free-bookA lot of people ask us how we have time to read so many books. The truth is… we don’t! We listen to audiobooks. The beauty of audio books is you can knock-out two things at the same time. For example, driving, standing in line for your glamour shots at the mall, or just doing the dishes. All joking aside, reading a book every two weeks is probably the most profound element to our success in business. That's why we have worked hard with Amazon.com to get an exciting deal lined up for all the Investor's Podcast listeners. If you click on our exclusive link to Amazon's Audibles, you can download any free audio book straight onto your smartphone! If you don't like the service within 30 days, keep the free book and cancel the service. Amazon's Audibles has the largest listing of audio books in the world with over 180,000 titles. I personally use Audibles because it has the cheapest prices, the best reliability, and the largest selection of titles (You pick the books through Amazon.com). Making a commitment to read a new book each month is hands-down the most important investment you can make. - Preston & Stig

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Download Preston & Stig's free stock investing checklist. Their checklist was developed after spending countless hours studying billionaires like, Warren Buffett, Carl Icahn, and Ray Dalio. With their checklist, you can find safe picks that protect and grow your principal. Additionally, Preston & Stig read a lot of books and write executive summaries for each book they finish. If you download their checklist, you will be added to their monthly e-mail list where they send their book summaries. There are never any advertisements...ever. Here's an example of one of their executive summaries, based on the book written by Billionaire Charlies Koch.