In this short interview Charles Munger explains how he made four or five hundred million dollars from just two decisions:
Q3 hedge fund letters, conference, scoops etc
“I talked about patience. I read Barron’s for fifty years. In fifty years I found one investment opportunity in Barron’s. I made about $80 Million, with almost no risk. I took the $80 Million and gave it to Li Lu who turned it into four or five hundred million dollars. So I have made four or five hundred million dollars from reading Barron’s for fifty years and following one idea. Now that doesn’t help you very much. I’m sorry, but that’s the way it really happened.”
(Source: YouTube)
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