Charlie Munger Destroys "Trading Gurus"
In this video, Charlie Munger, billionaire investor and business partner of Warren Buffett, takes aim at fake internet gurus and those who profit from misleading people. Munger compares actively trading in stocks to starting off on heroin, and mocks those who claim they can teach you how to make 300% a year for the cost of shipping. He also criticizes the advertising agents who use misleading language to sell products, and private equity firms who sell troublesome assets using phony projections. Munger emphasizes the importance of being honest in business, and shares a story about his father's advice to always work for clients who treat everyone with respect and avoid those who are constantly in legal trouble. Munger concludes with the words of his business partner, Warren Buffett: "If you take the high road, it's never crowded." This video is a must-watch for anyone interested in the world of finance and investing, and for those who are tired of being misled by phony gurus and fake experts.
Disclaimer: Parts of the video have been fairly used from Daily Journal Annual Meeting 2019. Please reach out on the email in given at About section of the channel for any concerns.