Highlights of Webinar by Mr Vallabh Bhansali

Please Share:: �� India Equity Research Reports, IPO and Stock News Visit http://indiaer.blogspot.com/ for complete details ��

��

-->

Highlights of Webinar by Mr Vallabh Bhansali

Very interesting and philosophical session, where he describes learnings from Charlie Munger's life.

Charlie Munger:

* Our wisdom is simple, people dont like simple wisdom though.

* We also make mistakes, but we make smaller ones, that does not sink us.

* Dont be a one legged men in a kicking competition

* Everyone wants to be Rich, famous and Happy. Become deserving of what you desire. You will get what u want.

*Be prepared: Prepare yourself such  nothing can sink you. Munger got divorced at 30, lost a son to cancer soon and lost a eye - but he was prepared for anything in life.

* Berkshire is sitting on cash of 137 Bn of 450 bn balance sheet. This is called preparedness for any crisis / right opportunities.

* Goldman - The smartest people in the world - had to give the best deal in the world at the bottom of a cycle to Berkshire - with huge upside and downside protection. This is called preparedness.

Good behaviour:  Accept what nature as given you. If u are 5 2", accept it. You can do much better in 1000 other things than trying to excel in basketball.

Be Reliable: Whole of Ramanyan is centered around Pran jay pan vachan na jay. Being  reliable under all circumstances matters the most.

Be simple - Buffet stays in the same house for last 50 years. They have same corporate office since so many years, with only 25 people.

Be informed: Charlie Munger reads extensively, even with one eye, to remove ignorance even at the age of 96.

Margin of safety: Don't do anything without margin of safety..

Power of compounding is the most powerful concept of investments.

* Distinguish between activity and progress

Emotional training
- Dont self pity or give excuses.
- Dont Envy - that's the biggest mistake of investmenting.
- Resenment - Never resent anything
- Avoid self serving bias.

Lastly, he compares Warren Buffet and Charlie Munger with modern day Rishis - who sees reality without biases, without greed or fear, without  pain or excitement, without envy or resentments, are prepared for any eventualities, live simple life and follow discipline.