Image Credit: Nick Webb, 2010 (Flickr)
By Jason Zweig | April 17, 2020 10:00 am ET
If the coronavirus lockdown has frozen your investing plans, you’re in good company. Charlie Munger is watching and waiting, too.
Mr. Munger, vice chairman of Berkshire Hathaway Inc. and Warren Buffett’s longtime business partner, likes to say that one of the keys to great investing results is “sitting on your ass.” That means doing nothing the vast majority of the time, but buying with “aggression” when bargains abound.
I spoke this week by phone with Mr. Munger, who turned 96 years old on Jan. 1. He sounded as sharp and vigorous as ever, and as usual he drew bright lines between what he’s fairly certain of and what he thinks belongs in the “too-hard pile” — where he and Mr. Buffett consign questions they don’t know how to answer. Overall, Mr. Munger made it clear that he regards this as a time for caution rather than action...
To read the rest of the column:
For further reading:
Peter D. Kaufman (editor),Â Poor Charlie’s Almanack: The Wit and Wisdom of Charles T. Munger
Tren Griffin, Charlie Munger: The Complete Investor
Benjamin Graham, The Intelligent Investor
Articles and other resources:
CNBC’s compilation of interviews with and comments by Munger
A satisfying compendium of all manner of Munger material by Austin Capital (PDF)