The Art of Stock Picking
The title of this column comes from a talk by esteemed investor Charlie Munger to a group of business students several years ago. Munger, for those unaware, is the vice chairman of Berkshire Hathaway (BRK.A, BRK.B). But that title gives him little credit. Munger has been partners with Warren Buffett for decades, and Buffett will be the first to tell you that Berkshire wouldn't be what is today without Charlie Munger.
Although Munger's transcribed talk spans 18 pages and devotes a good portion of the discussion to the value of understanding mental models in disciplines such as psychology, mathematics and biology as they relate to stock picking, he uses this framework of knowledge to understand business problems....434 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.
Already a Subscriber? Please login.