Charlie Munger sat down with the BBC's Evan Davis in October 2009, in the middle of the financial crisis. Berkshire Hathaway was down nearly 50% from its peak. He was 85. The interviewer asked how worried he was. Munger said zero.That zero is the whole interview. Munger spent his life proving that great investors win on temperament. They sit still when everyone else is panicking.The first lesson is that 50% drops are the price of admission. Munger had watched Berkshire halve three times in his c
10:43
Charlie Munger sat down with the BBC's Evan Davis in October 2009, in the middle of the financial crisis. Berkshire Hathaway was down nearly 50% from its peak. He was 85. The interviewer asked how worried he was. Munger said zero.That zero is the whole interview. Munger spent his life proving that great investors win on temperament. They sit still when everyone else is panicking.The first lesson is that 50% drops are the price of admission. Munger had watched Berkshire halve three times in his c
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