Charlie Munger’s $3 Billion Mentorship
Good morning, everyone.
This week’s newsletter includes: Charlie Munger’s personal tuition and the trade that nearly destroyed Bill Ackman.
The Value of Action
Charlie Munger was 81 and a global investing icon - but a knock on his door sparked the most unexpected relationship of his life…
In 2005, Charlie Munger had nothing left to prove.
Vice Chairman of Berkshire Hathaway, one of the most admired thinkers on the planet and a global icon of investing.
But - one afternoon at his home in Los Angeles, something unusual happened.
A 17-year-old knocked on Charlie’s door...
He said his name was Avi Mayer and he lived in the neighbourhood. He spoke to Charlie in Hebrew, handing a volume of the Five Books of Moses: “I had read about him and thought he was Jewish”, Avi said.
Charlie wasn’t Jewish - but he accepted the gift, smiled, and invited Avi inside.
That moment changed both of their lives.
Avi explained how he had just lost his grandfather. He had been diagnosed with ADHD and told he would never make it to college. They talked for hours, and Avi started visiting regularly.
Instead of college, Charlie said Avi should attend “Munger University.”
So that’s what Avi did.
“He listened to my problems,” Avi said. “We talked about life principles and personal values.”
They became close. Charlie arranged kosher meals so they could dine together. He gave Avi books to read. He challenged Avi to think clearly, live intentionally, and build something meaningful. Years later, Avi and his childhood friend Reuven launched their first real-estate venture. Charlie reviewed their plan, looked at Avi and said:
“I’m graduating you!”
He invested.
By 2017, the three partners controlled one of the largest portfolios of low-rise apartments in Southern California - nearly 10,000 units with a rough valuation of $3 Billion.
Even in his mid-90s, Charlie was walking properties, choosing neighbourhoods, debating paint colours, and deciding where trees should go. Their company became worth billions. Before he died, Charlie reflected on the lesson that defined his life:
“The best thing a human being can do is help another human being know more.”
Recommendation’s
*NEW* In case you missed it, I published a new video on the most painful period in Bill Ackman’s career. Check it out below.
For the ultimate Charlie overview, watch this university commencement speech entitled “Advice For A Good Life”.
If you’ve got a bit more time, check out Charlie’s final ever interview before his death, where he talks about his secrets of building relationships.
The Trade That Nearly Destroyed Bill Ackman
Bill Ackman simultaneously lost $4Billion, divorced his wife and nearly lost his company. Here’s the unbelievable true story of money, power and a phone call…
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Joseph Cass