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Acquired

Charlie Munger

Sun, 29 Oct 2023

Description

We sit down with the legendary Charlie Munger in the only dedicated longform podcast interview that he has done in his 99 years on Earth. We’ve gotten to have some special conversations on Acquired over the years, but this one truly takes the cake. Over dinner at his Los Angeles home, Charlie reflected with us on his own career and his nearly 50-year partnership at Berkshire Hathaway with Warren Buffett. He offered lessons and advice for investors today, and of course he shared his speech on the virtues of Costco once again (among other favorite investments). We’re so glad that we got the opportunity to record and share this with you all — break out your notebooks, tune in, and enjoy the singular wit and wisdom of Charlie Munger.A transcript is available here.Sponsor:Special thanks to Tiny for being the exclusive sponsor of this episode. You can get in touch with them here (just tell them Ben & David sent you), and order your very own bronze Charlie bust here.More Acquired!:Get email updates with hints on next episode and follow-ups from recent episodesJoin the SlackSubscribe to ACQ2ACQ Merch Store!© Copyright 2023 ACQ, LLC‍Note: Acquired hosts and guests may hold assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. You should do your own research and make your own independent decisions when considering any financial transactions.

Audio
Transcription

Full Episode

00:00 - 00:10 David Rosenthal

Ben, when we teased this episode in the email about the Jensen episode that we just released, the guesses that we were getting from folks were amazing.

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00:10 - 00:14 Ben Gilbert

I mean, people were like, it's Charlie, it's Warren, or it's Taylor Swift. And a lot of people were right.

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00:14 - 00:18 David Rosenthal

Hey, Taylor, you know where to find us, acquiredfm at gmail.com.

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00:18 - 00:24 Ben Gilbert

If you are looking to get more publicity, we're open. Have Travis get in touch. All right, let's do it.

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00:00 - 00:00 Music Interlude

Is it you? Is it you? Is it you? Who got the truth now? Is it you? Is it you? Is it you? Sit me down. Say it straight. Another story on the way.

00:00 - 00:00 Ben Gilbert

Welcome to this episode of Acquired, the podcast about great technology companies and the stories and playbooks behind them. I'm Ben Gilbert. I'm David Rosenthal. And we are your hosts. This episode is a very unique one for David and I. Good friend of the show, Andrew Marks, organized a little dinner for us with Charlie Munger and a few other folks at Charlie's home in Los Angeles.

00:00 - 00:00 Ben Gilbert

You can hear Andrew a few times in the background asking Charlie questions. We are pretty sure that this is the only podcast that Charlie has ever done. Charlie, aside from being one of the most prolific investors of all time alongside his partner Warren Buffett, is 99 years old. He will turn 100 on January 1st.

00:00 - 00:00 Ben Gilbert

Of course, our conversation was interesting because he's freaking Charlie Munger, but also because it was interesting to get the perspective of someone who has seen the last 99 years of human history. We talked with Charlie, of course, about Costco, his history investing in retailers over the last 50 years.

00:00 - 00:00 Ben Gilbert

We also got to hear his views on what it takes to build a great partnership, what's gone wrong in the global securities markets these days, the concept of investing versus gambling, and where investment opportunities remain in the world today.

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