Charlie Munger: There Are Many Ways To Succeed In Investing

During this Berkshire Hathaway Annual Meeting, Charles Munger explains why the investment world is full of people who are succeeding based on quite different sorts of talent. Here’s an excerpt from the conversation:

Munger: When multiple factors are causing success you get these anomalies. You could have two people who are going to be equally successful and one is terribly good at A and terrible at Z, and the other is terribly good at Z… is very good at Z and terrible at A, they’re equal.

Which factor is most important, the answer is it doesn’t matter in that case when you’ve got multiple factors great strength in one will compensate some for weakness in another, and the factors can be quite different.

I think the investment world is full of people who are succeeding based on quite different sorts of talent.

You can watch the entire discussion here: