To The Moon

Recently, What I heard the sharing from Munger that touched me the most is about "the secret of a Long-Lasting Marriage"? Munger said， "The secret to a long-lasting marriage is to lower your expectations," Source: www.wonderfulquote.com/ Munger's psychological habit of setting low expectations is deeply ingrained, because he feels that high expectations will lead to faultfinding, so he is also habitually not expecting too much on the road to happiness. Low expectations make people less likely to be disappointed. In addition, one more important thing before marriage: looking for a spouse, both he and his good friend and business partner-Warren Buffett, have relatively consistent views: Warren Buffett: The most important decision in life is whom to marry. When it comes to choosing a future partner, if you really choose the wrong one, it will cost you a lot. And this loss is not just monetary. Charlie Munger also said: If you are lucky, you can find a good partner, live a happy life, and people will make progress. A good partner makes life easier. “If you want the blessing of a happy home, keep both eyes open before marriage, and one eye closed after.” I think the significance of this "long-termism" and "making important choices through wisdom" can be learned from two elderly legend investors, Especially for investment, such as: "Before buying a stock, you must investigate and understand the fundamentals of the company with your eyes wide open. After buying, don't care about short-term fluctuations too much." Whatever wonderful Quotes from Munger or Buffett's investment philosophy can be shared in this post's comment area. We will award the comments indetail. https://finance.yahoo.com/ The focus of this article is to lead Tigers to get some of the highlights form Munger's latest shareholder meeting and the changes in the company's holdings: For a full link of livestream please turn to @Videolunge to watch the more video. During the latest general meeting of shareholders, the former chairman of the $Daily Journal(DJCO)$ , and vice chairman of $Berkshire Hathaway(BRK.A)$ $Berkshire Hathaway(BRK.B)$ said that he is still a fan of bank stocks and reiterated his support for encryption Currency dislike, and expressed appreciation for $BYD Co., Ltd.(BYDDY)$ $BYD COMPANY(01211)$ . Below are 9 highlights you may interested: 1. Investing in China allows you to buy some better companies at a cheap price. 2. $BYD COMPANY(01211)$ is my favorite stock. Li Lu and I had a relatively large influence on BYD's shift to electric vehicles. 3. I still think $Alibaba(BABA)$ is one of the best companies, the position adjustment is because some leverage was used before. 4. Artificial intelligence (such as ChatGPT) is very important, even indispensable, but it is difficult to realize many crazy ideas, such as not curing cancer. 5. Musk is a very unusual person. Except for BYD, no company can do better than $Tesla Motors(TSLA)$ . 6. Investors who have held $Berkshire Hathaway(BRK.A)$ $Berkshire Hathaway(BRK.B)$ for more than 20 years will definitely have good returns. 7. Munger shared the secret of longevity: he likes to eat peanut butter candy, and rarely does deliberate exercise. 8. Human civilization doesn’t ask much of us: we have to make realistic expectations of ourselves and others, and delaying gratification makes the chances of success greater. 9. Reason is the best quality. If you are not crazy, you can already do better than 95% of people. Other Info about Daily Journal's investments: The Daily Journal's latest holdings show a total market value of about $174.4 million in the Q422, compared to about $163.5 million in the previous quarter. Daily Journal's portfolio is much smaller than Berkshire's. But the company does own stakes in four notable companies: $Bank of America(BAC)$ , $U.S. Bancorp(USB)$ and $Wells Fargo(WFC)$ as well as $Alibaba(BABA)$. According to the data, The Daily Journal cleared in the fourth quarter. https://whalewisdom.com/ Munger vs. Buffet on Bank stocks Munger said he doesn't want to sell existing bank positions because many of these were bought at the bottom of the range during the 2008-2009 financial crisis. If the company cashes in on those gains, it faces a huge tax bill in California. "It (holding) isn't that bad for us and we're willing to hold it for a while longer." The 13F report released on Tuesday showed that $Berkshire Hathaway(BRK.A)$ continued to sell bank stocks. In the last quarter, it reduced its holdings of 91.4% of the shares of U.S. Bank to 6.7 million shares, and reduced its holdings of $Bank of New York Mellon(BK)$ by nearly 60% to 6.7 million shares. 25.1 million shares. Since 2020, Berkshire has cleared $JPMorgan Chase(JPM)$ , $Goldman Sachs(GS)$ and $Wells Fargo(WFC)$ , and its continuous weight has fallen for five consecutive quarters. Munger vs. Buffet on China Investing “I never stopped to think [Alibaba] was still a retailer. It’s going to be a competitive business,” Munger said. A question asked, why do you (and Buffett) prefer to hold $BYD COMPANY(01211)$ instead of $Tesla Motors(TSLA)$ ? He replied, “Tesla cut prices twice in China, while BYD is raising prices, but BYD is still far ahead of Tesla in China, which seems a bit ridiculous. BYD is so much ahead of Tesla in China. ” But he conceded that it’s an expensive stock. Berkshire has been trimming its stake in BYD over the past year. Berkshire Hasa purchased about $220 million $BYD COMPANY(01211)$ for the first time in September 2008. Since 2022, Berkshire has actually been reducing its $BYD COMPANY(01211)$ holdings(from previous 20.49% fell to 11.87%) to cash in profits. Munger on Cryptos “I think people who oppose my position are idiots,” he said, adding that investors should avoid people who promote cryptocurrencies, once again saying that cryptocurenecies are “worthless,” “crazy,” “ridiculous” and “unspeakable.” During the Daily Journal’s shareholder meeting in Los Angeles on Wednesday. Munger said claims cryptocurrencies can replace national currencies are the equivalent of saying that air can be replaced. 💡Share Your Insights 1) What else do you know about Charlie Munger? 2) Which of his wonderful quotes resonate with you? 🎁Prizes 🐯All Tigers who comment on the following post will receive 10 Tiger Coins 🐯The top 10 comments with the most likes will win 50 Tiger Coins 🐯Tigers forwarded this post to your personal social media & marked the screenshot will get 100 Tiger Coins ⏰Activity Duration 16 February 2023-22 February 2023 EST