Billionaire Charlie Munger Said 'Damn Right' I Am Rich Owning 3 Stocks—Because 'Hell, One Will Suffice' If You're Not A 'Know-Nothing Investor'

Benzinga_recent_news01-27

Charlie Munger didn't need 50 stocks, a team of analysts, or a color-coded pie chart to feel rich. He needed three picks—and maybe not even that many. At the 2017 Daily Journal annual meeting, Munger ...

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He needed three picks—and maybe not even that many.\nAt the 2017 Daily Journal annual meeting, Munger ...</p>\n\n<a href=\"https://www.benzinga.com/personal-finance/management/26/01/50156196/billionaire-charlie-munger-said-damn-right-i-am-rich-owning-3-stocks-because-hell-one-will-suffice-if-youre-not-a-know-nothing-investor\">Source Link</a>\n\n</div>\n","source":"benzinga_recent_news","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Billionaire Charlie Munger Said 'Damn Right' I Am Rich Owning 3 Stocks—Because 'Hell, One Will Suffice' If You're Not A 'Know-Nothing Investor'</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBillionaire Charlie Munger Said 'Damn Right' I Am Rich Owning 3 Stocks—Because 'Hell, One Will Suffice' If You're Not A 'Know-Nothing Investor'\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-01-27 22:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/personal-finance/management/26/01/50156196/billionaire-charlie-munger-said-damn-right-i-am-rich-owning-3-stocks-because-hell-one-will-suffice-if-youre-not-a-know-nothing-investor><strong>Benzinga_recent_news</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Charlie Munger didn't need 50 stocks, a team of analysts, or a color-coded pie chart to feel rich. He needed three picks—and maybe not even that many.\nAt the 2017 Daily Journal annual meeting, Munger ...</p>\n\n<a href=\"https://www.benzinga.com/personal-finance/management/26/01/50156196/billionaire-charlie-munger-said-damn-right-i-am-rich-owning-3-stocks-because-hell-one-will-suffice-if-youre-not-a-know-nothing-investor\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4550","symbol_name":"红杉资本持仓","start_time":0,"source_url":"https://www.benzinga.com/personal-finance/management/26/01/50156196/billionaire-charlie-munger-said-damn-right-i-am-rich-owning-3-stocks-because-hell-one-will-suffice-if-youre-not-a-know-nothing-investor","article_id":"2606578096","we_media_id":null,"thumbnails":["https://cdn.benzinga.com/files/images/story/2026/01/27/Charlie-Munger-Made-This-Prediction-On-U.jpeg?optimize=medium&dpr=2&auto=webp&width=240"],"rights":{"source":"benzinga_recent_news","url":"https://www.benzinga.com/personal-finance/management/26/01/50156196/billionaire-charlie-munger-said-damn-right-i-am-rich-owning-3-stocks-because-hell-one-will-suffice-if-youre-not-a-know-nothing-investor","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2606578096","pubTimestamp":1769523360,"columns":[],"sourceInfo":{"source_id":"benzinga_recent_news","name":"Benzinga"},"weMediaInfo":null,"summary":"Charlie Munger didn't need 50 stocks, a team of analysts, or a color-coded pie chart to feel rich. He needed three picks—and maybe not even that many.At the 2017 Daily Journal annual meeting, Munger laid it out with signature bluntness: \"The Mungers have three stocks. We have a block of Berkshire, we have a block of Costco, we have a block of Li Lu's Fund, and the rest is dribs and drabs.\" Then he posed the question himself: \"So am I comfortable?While financial planners preach diversification, Munger called that playbook unnecessary for anyone who actually understands what they're doing. \"Diversification is a rule for those who don't know anything,\" he said, referencing Berkshire Hathaway Chair Warren Buffett's term for casual investors: \"know-nothing.\". Munger died in 2023 at age 99, just weeks shy of his 100th birthday. Until the end, he stuck with what he knew: Costco, Berkshire, and Li Lu. No hedging, no panic, no fluff. Three picks. Zero apologies.","collect":0,"end_time":0,"defaultTopTitle":"benzinga.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4550":"红杉资本持仓","BK4588":"碎股","BRK.A":"伯克希尔","LU1571399168.USD":"ALLSPRING GLOBAL LONG/SHORT EQUITY \"IP\" (USD) ACC","LU0683600562.USD":"AB SELECT US EQUITY \"A\" (USD) ACC","LU2487616109.SGD":"JPM AMERICA EQUITY \"A\" (SGD) ACC","IE00BJLML261.HKD":"HSBC GLOBAL EQUITY INDEX \"HCH\" (HKD) ACC","BRK.B":"伯克希尔B","LU1914381329.SGD":"Allianz Best Styles Global Equity Cl ET Acc H2-SGD","LU0157215616.USD":"FIDELITY GLOBAL FOCUS \"A\" INC","LU0234570918.USD":"高盛全球核心股票组合Acc Close","IE00B3S45H60.SGD":"Neuberger Berman US Multicap Opportunities A Acc SGD-H","LU0210528500.USD":"JPM AMERICA EQUITY \"A\" ACC","LU0787776722.HKD":"AB SELECT US EQUITY PORTFOLIO \"A\" (HKD) ACC","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY  \"A\" (USD) ACC","LU0971096721.USD":"富达环球金融服务 A","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","LU0149725797.USD":"汇丰美国股市经济规模基金","IE0034235303.USD":"PINEBRIDGE US RESEARCH ENHANCED CORE EQUITY \"A\" (USD) ACC","BK4581":"高盛持仓","IE00BK4W5L77.USD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (USD) ACC","LU2168564495.EUR":"AZ ALLOCATION - TREND \"AI\" (EUR) ACC","LU0154236417.USD":"BGF US FLEXIBLE EQUITY \"A2\" ACC","LU1201861249.SGD":"Natixis Harris Associates US Equity PA SGD-H","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","IE00BK4W5M84.HKD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (HKD) ACC","LU2168564222.USD":"AZ ALLOCATION - TREND \"AAZ\" (USDHDG) ACC","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","LU0640476718.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQ \"AU\" (USD) ACC","LU0742534661.SGD":"Fidelity America A-SGD (hedged)","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","BK4585":"ETF&股票定投概念","BK4534":"瑞士信贷持仓","LU0980610538.SGD":"Natixis Harris Associates US Equity RA SGD-H","LU1280957306.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQUITIES \"AUP\" (USD) INC","LU2168564065.EUR":"AZ ALLOCATION - TREND \"AAZ\" (EUR) ACC","IE00B775SV38.USD":"NEUBERGER BERMAN US MULTICAP OPPORTUNITIES \"A\" (USD) ACC","IE00BKDWB100.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5H\" (SGDHDG) ACC","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","BK4533":"AQR资本管理(全球第二大对冲基金)","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","LU0234572021.USD":"高盛美国核心股票组合Acc","LU2168563687.JPY":"AZ ALLOCATION - TREND \"AAZ\" (JPYHDG) ACC","IE000M9KFDE8.USD":"NEUBERGER BERMAN US LARGE CAP VALUE \"A\" (USD) ACC","BK4176":"多领域控股","COST":"好市多","LU2168564149.EUR":"AZ ALLOCATION - TREND \"BAZ\" (EUR) ACC","LU1074936037.SGD":"JPMorgan Funds - US Value A (acc) SGD","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","HK0000914686.HKD":"GFI Global Select Equity Fund Class A (HKD)","LU0048573561.USD":"FIDELITY AMERICA \"A\" (USD) INC","LU0251142724.SGD":"Fidelity America A-SGD","LU1363072403.SGD":"Fidelity Global Financial Services A-ACC-SGD","LU0251131958.USD":"FIDELITY AMERICA \"A\" (USD) ACC","LU1366333091.USD":"FIDELITY GLOBAL FOCUS \"A\" (USD) ACC","HK0000914660.USD":"GFI Global Select Equity Fund Class A (USD)","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC"},"translate_title":"亿万富翁查理·芒格说“太对了”，我拥有3只股票就很富有——因为如果你不是“一无所知的投资者”，“见鬼，一只就足够了”","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BRK.B":1.93,"COST":1.91,"BRK.A":0.74},"content_text":"Charlie Munger didn't need 50 stocks, a team of analysts, or a color-coded pie chart to feel rich. He needed three picks—and maybe not even that many.\nAt the 2017 Daily Journal annual meeting, Munger laid it out with signature bluntness: \"The Mungers have three stocks. We have a block of Berkshire, we have a block of Costco, we have a block of Li Lu's Fund, and the rest is dribs and drabs.\" Then he posed the question himself: \"So am I comfortable? Am I securely rich? You're damn right I am.\"\nWhile financial planners preach diversification, Munger called that playbook unnecessary for anyone who actually understands what they're doing. \"Diversification is a rule for those who don't know anything,\" he said, referencing Berkshire Hathaway Chair Warren Buffett's term for casual investors: \"know-nothing.\" \nDon't Miss:\nMunger pushed further: \"If you're not a know-nothing investor, if you're actually capable of figuring out something that will work better, you're just hurting yourself looking for 50 when three will suffice. Hell, one will suffice if you do it right.\"\nThis wasn't a one-off rant. At the 2003 Wesco Financial annual meeting, he compared stock investing to real estate. \"Suppose you were a real estate investor with a one-third interest in the best apartment complex in town, the best mall, and the best industrial property,\" Munger said. \"Would you feel like a poor, undiversified investor? No!\" \nBut with stocks, he said, people suddenly get nervous—because they've been taught to. \"Why anyone would pay a lot of money to learn what is so obvious is beyond me. I'm serious—people get paid to teach this!\" \nTrending: Americans With a Financial Plan Can 4X Their Wealth — Get Your Personalized Plan from a CFP Pro\nBuffett has long been clear about who he considers a know-nothing investor: someone who doesn't understand the underlying economics of a business and should avoid trying to outsmart the market. In his 1993 Berkshire Hathaway shareholder letter, Buffett wrote, \"By periodically investing in an index fund, for example, the know-nothing investor can actually outperform most investment professionals. Paradoxically, when ‘dumb' money acknowledges its limitations, it ceases to be dumb.\"\nNearly three decades later, during the 2020 Berkshire annual meeting, he doubled down. \"In my view, for most people, the best thing to do is to own the S&P 500 index fund,\" he said. \"People will try and sell you other things because there's more money in it if they do.\"\nMunger's stance wasn't about ego—it was about edge. If you understand the business, you don't need 47 backups. And if you don't, that's fine—just don't pretend you do. \nSee Also: This ETF issuer isn't chasing the index — it's building tools for income, leverage, and conviction\nMunger died in 2023 at age 99, just weeks shy of his 100th birthday. Until the end, he stuck with what he knew: Costco, Berkshire, and Li Lu. No hedging, no panic, no fluff. Three picks. Zero apologies.\nBut mimicking Munger's approach isn't as simple as buying a few recognizable stocks and waiting for them to \"snowball.\" These were decades-long positions, built on deep conviction, personal insight, and a tolerance for volatility that most investors don't have. Even Buffett has stressed that the average person should avoid picking individual stocks altogether.\nThat's why Buffett recommends broad exposure, like the S&P 500. And for those unsure how to start—or whether they're more Munger or \"know-nothing\"—a licensed financial adviser can help clarify your options, risk tolerance, and long-term goals. Because owning one great stock can be enough. But knowing whether it should be? That takes more than guts. It takes guidance.\nRead Next: Why Billionaires Like Warren Buffett Prefer Real Assets Over Speculation—Institutional Real Estate Is Now Accessible to Individuals\nImage: Shutterstock","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.36.2","shortVersion":"4.36.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2606578096","isCrawlerRequest":true}