Charlie Munger: Turning $2M Into $2T

Re:Charlie Munger: Turning $2M Into $2T by sdfghswe on Wednesday September 20, 2023 @02:02PM (#37587537)

Suppose to have an idiotic model like for example "investing is flipping a coin". Then you calculate how many coin flips waiting a certain amount of time corresponds to. Then you conclude, see, these N people are the lucky coin flippers.

Now suppose of all the crazy investing philosophies in existence, you learn that all N greatest investors (or "N luckiest coin flippers" according to you), suppose you learn all of them have the exact same investing philosophy.

Would this make you reconsider whether your "investing is coin flipping" model is a useful model?

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Re:Charlie Munger: Turning $2M Into $2T by Luc on Wednesday September 20, 2023 @02:11PM (#37587699)

I might as well link to it for those who haven't read it:

"The Superinvestors of Graham-and-Doddsville"

https://www8.gsb.columbia.edu/sites/valueinvesting/files/fil...

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Re:Charlie Munger: Turning $2M Into $2T by sdfghswe on Wednesday September 20, 2023 @02:34PM (#37588031)

I take private satisfaction imagining that I say really smart stuff I read elsewhere, get dismissed by morons, and then the morons 3 years later read the exact same idea from a reputable source and go "hold on a second, that's what that guy on those forums was saying" :-)

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Re:Charlie Munger: Turning $2M Into $2T by sokoloff on Wednesday September 20, 2023 @03:05PM (#37588568)

I think you're likely wildly over-estimating the number of times that last thought enters into people's minds (even if it's the case, I think it doesn't occur to most people).

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Re:Charlie Munger: Turning $2M Into $2T by hiddencost on Wednesday September 20, 2023 @02:53PM (#37588391)

Typically their model is regulatory capture.

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Re:Charlie Munger: Turning $2M Into $2T by robertlagrant on Wednesday September 20, 2023 @03:59PM (#37589316)

Regulatory capture doesn't generate money.

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Re:Charlie Munger: Turning $2M Into $2T by sdfghswe on Wednesday September 20, 2023 @05:29PM (#37590469)

These people like repeating their memes, let them.

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