Charlie Munger and the Power of Delayed Gratification: How He Built His Fortune
Charlie Munger, the Vice Chairman of Berkshire Hathaway, is widely considered one of the most successful investors of all time. He is known for his unconventional approach to investing, his use of mental models, and his ability to employ delayed gratification. In this blog post, we'll take a closer look at how Munger has used delayed gratification to build his fortune. Delayed gratification is the ability to resist the temptation of an immediate reward in favor of a larger, long-term benefit. Munger has long been a proponent of this concept and has used it to great effect in his investing career. One of the hallmarks of Munger's approach is his willingness to wait for the right opportunity to come along, rather than trying to time the market or chase after short-term gains. Munger is famous for his patience and his ability to wait for the right opportunities to come along. He has a long-term approach to investing, and is not afraid to hold on to his investments for years, if no...
