How Charlie Munger Made His First $1,000,000

Video Description

This is the story of how Berkshire Hathaway billionaire Charlie Munger made his first $1,000,000. How he went from ZERO to MILLIONAIRE at age 43. You’ve probably heard the story about Warren Buffett, but have you heard the one about his right-hand man Charlie Munger? Charlie Munger has often said that the most difficult part of becoming financially independent is to get a hold of those first $100,000 or $1,000,000. Today, both Charlie Munger and Warren Buffett are two of the world’s richest men, and none of them inherited their wealth, they’re both self-made. Also, they’ve both been wildly successful as stock market investors. A little-known fact about Charlie Munger, which we’ll talk about more later, is that he operated an investment partnership in the 60s and 70s which has a greater track record than recently acclaimed investors such as Cathie Wood and even legendary investors such as Peter Lynch. But Charlie Munger’s path to his first million wasn’t without its road bumps. For most of us, and Munger was no exception, life happens, and the accumulation of wealth may be temporarily interrupted or even take a U-turn due to unexpected circumstances. Therefore, I think you’ll find that the story about how Charlie Munger became a millionaire makes for a great complement to the story of Buffett. --- My main tool for fundamental screening and analysis of stocks: https://app.tikr.com/register?ref=tsi (If you sign up I earn a small commission) --- How Warren Buffett Made His First $1,000,000: https://youtu.be/M5i_YYAXsAM --- Timestamps: 00:00 Intro 01:59 Munger & Range (1930-) 04:15 Munger the Hamster Breeder (1934-1935) 05:08 Munger & Buffett’s Grandfather (1936-1938) 06:18 Munger & High School (1938-1941) 06:59 Munger & Physics (1941-1942) 07:52 Munger the Lieutenant (1943-1946) 09:26 Munger & Nancy (1945-1953) 10:49 Munger the Harvard student (1946-1948) 11:36 Munger the Lawyer (1949-1965) 12:12 Munger the investor (1952-) 14:14 Munger & Setbacks (1953-1955) 15:40 Munger’s Many Mental Models (1953-) 20:03 Munger & Nancy (1955-2010) 20:48 Munger & Buffett (1959-) 22:44 Munger the Real Estate Developer (1960-1969) 26:07 Munger – One Foot Out (1962-1965) 28:29 Munger the Sage of Securities (1962-) 31:39 Munger: Becoming a Millionaire (1967) --- My goal with this channel is to help you make more money and improve your personal finances. How to become a millionaire? There are many ways to get there – investing in the stock market, becoming a stock trader, doing real estate investing, or why not becoming an entrepreneur? But whether you are interested in how to invest in stocks or investing strategies for creating passive income with rental properties – I hope to be able to provide you with a solution (or at least an idea) here. Warren Buffett - the greatest investor of our time - says that you should fill your mind with competing ideas and then see what makes sense to you. This channel is about filling your mind with those ideas. And in the process – upgrading your money-making toolbox.