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Combined with Teacher Goh's practical guidance,
you will step by step reach the peak of wealth!
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Disclaimer: This content is for educational purposes only and does not constitute financial advice. Invest at your own risk.
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Charles Munger was an American businessman, investor and philanthropist who died on November 28, 2023 in Santa Barbara, California at the age of 99. He was the vice chairman of Berkshire Hathaway, the partner of Warren Buffett for nearly 60 years, and the right-hand man of Buffett, who called him his closest friend and partner.
He was also the chairman of Daily Journal Corporation and a director of Costco Wholesale Corporation. He was known for his wisdom, humor and multidisciplinary approach to thinking, and had a profound influence on the investment and financial world.
Munger’s life was full of challenges and struggles. He was born on January 1, 1924, the son of a lawyer family in Omaha, Nebraska. He worked at Buffett’s grandfather’s grocery store, and later studied mathematics at the University of Michigan, but joined the army in 1943 and became a meteorologist for the US Army Air Corps.
He did not get a bachelor’s degree, but with his intelligence and family connections, he entered Harvard Law School and graduated with honors in 1948.
He was a successful real estate lawyer, as well as an entrepreneur and real estate developer. He gave up his legal career in the 1960s and focused on investing, and began his collaboration with Buffett. They jointly transformed Berkshire Hathaway from a textile mill into a diversified holding company with billions of dollars in assets, investing in many well-known businesses and brands, such as BNSF Railway, General Re, Geico, Coca-Cola, Apple, etc.
Munger left many valuable lessons for the world, and his thoughts and views were collected in his works The Tao of Charlie Munger and Seeking Wisdom: From Darwin to Munger, and were widely quoted and spread. He advocated using a multidisciplinary approach to understand the world, applying different fields of knowledge such as psychology, economics, physics, biology, etc. to make better decisions.
He emphasized the investment principles of intrinsic value, long-term investing, compound interest, competitive advantage, margin of safety, etc., and also advocated the life attitudes of morality, integrity, diligence, frugality, learning, etc.
He opposed the investment behaviors of speculation, gambling, financial innovation, leverage, chasing hot spots, etc., and also warned of the psychological traps of cognitive biases, social pressures, self-deception, etc. His wisdom is not only applicable to the investment field, but also to the fields of business, management, education, politics, etc.
Munger’s last words were not made public, but he had said some thought-provoking words in his speeches and interviews, such as: "I want to know where I’m going to die, so I’ll never go there." "I never allow myself to have an opinion on anything that I don’t know the other side’s argument better than they do
"We both (Buffett and I) insist on a lot of time being available almost every day to just sit and think. That is very uncommon in American business. We read and think
Munger’s legacy includes The Tao of Charlie Munger: The Wit and Wisdom of Charles T. Munger, Seeking Wisdom: From Darwin to Munger, Charlie Munger: The Complete Investor, The Way of Charlie Munger, etc., which are based on his speeches, interviews, articles and letters, reflecting his thoughts and views.
He is also the protagonist of The University of Berkshire Hathaway and Damn Right! Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger, which are about his collaboration and friendship with Buffett.
Munger was a generous philanthropist, who donated hundreds of millions of dollars of his wealth to various institutions and organizations, mainly in the education field. He donated more than $110 million to the University of Michigan Law School, to build a graduate center and improve the living conditions.
He also donated more than $650 million to Stanford University, to build a residence hall named after him.
He also donated tens of millions of dollars to the California Institute of Technology, the Huntington Library and Art Museum, the Harvard-Westlake School, the Pasadena Polytechnic School, etc., which he or his family members had attended or been associated with.
Munger was a giant in the financial world, and his death was a huge loss, but his thoughts and contributions will always remain in people’s hearts. We should learn from him, constantly read and think, use a multidisciplinary perspective to look at problems, use the standard of intrinsic value to evaluate investments, use the principles of morality and integrity to guide our actions, and use the attitude of diligence and frugality to live.
We should thank him for the wisdom and inspiration he brought us, and also inherit his charitable spirit, and contribute to the society and human progress.
More market articles: https://winningdiary.blogspot.com/
By observing the speculator’s capital chart, you can follow the speculator’s entry and exit from the stock market, which is almost a guaranteed win. Do you believe it?
We use AWC(7579) as a demonstration case:
On September 11, 2023, AWC closed at 0.46, the power index rose, and hot money returned. These two points have already constituted a real buy signal.
The next day, on September 12, 2023, members bought 21,000 shares at an opening price of 0.465.
On October 6, AWC opened at 0.575, rose to a high of 0.58, fell to a low of 0.565, and closed at 0.57.
Because this stock broke through the upper line of the Bollinger Bands and fell back, coupled with the absorption and distribution indicators, dynamic indicators, and the main outflow, these factors constituted an obvious sell signal. The 21,000 shares in hand can net a profit of 2079.72, a return rate of 21.18% (if only 10,500 are bought, the profit is halved).
On October 24, AWC closed at 0.55, the power index rose, speculators’ funds returned, good news appeared, and the stock price rose.
Members decided to buy 18,000 AWC at 0.555 when the market opened on October 25.
On November 16, this stock opened at 0.645, with a high of 0.665, a low of 0.635, and a close of 0.635.
The candle of the Japanese Yin-Yang line chart touched the top line of the Bollinger Bands, the absorption and distribution and Movement indicators both slid down, and the speculator’s funds (Banker Fund) flowed out.
Members sold at 0.635, which can net a profit of 1316.21, a return rate of 13.10%.
On November 29, this stock closed at 0.56.
There is no obvious buy signal yet, pay attention to it yourself, I am not convenient to publicly instruct, it will cross the red line.
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You have 5000 ringgit and want to do short-term trading, how do you grow it?
According to what is short-term trading - Zhihu - Zhihu column, short-term trading is a way of operation by buying and selling the target stock in the short term to obtain the difference (generally not more than seven trading days, as short as the next day).
The risks and returns of short-term trading are very high, requiring rich practical experience, keen market insight, good psychological quality, and strict risk control capabilities.
Assuming you only have 5000 ringgit, you want to do short-term trading, each transaction, locking the return rate between 5% and 10%, then how long can you earn 10,000, 50,000, 100,000, 200,000, 300,000, 400,000, 500,000, 600,000, 700,000, 800,000, 900,000 or even 1 million?
We can use the following formula to calculate:
n=logbPM
Where:
n is the number of transactions required
b is the return rate of each transaction (assuming fixed)
M is the target amount
P is the initial amount
For example, if the return rate of each transaction is 5%, then to earn 10,000 ringgit from 5000 ringgit, the number of transactions required is:
n=log1.05500010000≈14.21
That is to say, about 14 transactions are needed to reach the goal.
Similarly, we can list the number of transactions required under different rate of return and different target amounts in a chart: (see chart)
From the chart, it can be seen that the higher the return rate of each transaction, the fewer the number of transactions required. However, in actual operation, not every transaction can guarantee to achieve the expected rate of return, and even a loss may occur. Therefore, this chart is just an idealized model and cannot be used as the basis for actual operation.
In addition, short-term trading also needs to consider the impact of transaction costs and taxes. Each transaction will generate commissions, stamp duty, clearing fees and other expenses, these expenses will reduce the actual rate of return. Moreover, if the income from short-term trading exceeds a certain amount, income tax will need to be paid, which will also affect the final net income.
In summary, you only have 5000 ringgit, you want to do short-term trading, each transaction, locking the return rate between 5% and 10%, how fast can you earn 10,000, 50,000, 100,000, 200,000, 300,000, 400,000, 500,000, 600,000, 700,000, 800,000, 900,000 or even 1 million, there is no definite answer.
This depends on your trading skills, market conditions, transaction costs and taxes and other factors. Short-term trading is not a simple way to make money, but a high-risk and high-return speculative behavior.
Before you engage in short-term trading, you should fully understand the characteristics and risks of short-term trading, and formulate reasonable trading plans and strategies according to your own capabilities and risk tolerance. I hope these calculations and analyses are helpful to you. 😊
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