Buffett's partner is dead.Stock market guru Munger died at almost 100 - what you can learn from him.
Tren Griffin, who has written a book about Munger's life lessons, summarised the personality traits that Munger believes a successful investor must have. Here are some of them:
Patience. It is crucial not to become hyperactive and instead to wait patiently until investment opportunities arise - and to do nothing during this time.
Discipline. This is actually just a reinforcement of the first point, because what is meant here above all is the discipline to do nothing and wait.
Calmness - but courage and decisiveness when an opportunity arises.
Honesty Long - term investment horizon
Thriftiness
Risk avoidance
2023 Production Progress, page-245
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