May 28

Charlie Munger: Most Fund Managers Are Just Glorified Fortune Tellers – And He’s Right!

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Let me ask you a blunt question:

Would you trust your retirement savings to someone who guesses for a living?


Because according to the legendary Charlie Munger, that’s exactly what most fund managers are doing.

“The investment management industry is a scandal in many ways. It's like fortune telling.” – Charlie Munger

🔥 That’s a scorching take from one of the greatest minds in investing — and guess what?

The data actually backs him up!

Wall Street’s Dirty Little Secret

Study after study has shown that over 80% of actively managed funds underperform the market.

That means if you’d just bought a simple index fund, you would’ve done better than most of the “experts” with suits, jargon, and a million data screens.

Why? Because most money managers don’t invest.
They speculate.

They follow trends. Chase momentum. Rely on short-term predictions and flashy charts.
It’s financial entertainment — not value investing.

Munger’s Method: Think Long-Term, Understand the Business

Munger (and Buffett) built their fortune not by predicting recessions or interest rates — but by understanding business fundamentals:

  • Is this a great business?

  • Does it have durable competitive advantages?

  • Is it available at a fair price?


No tarot cards. No hype. Just logic, discipline, and patience.

So What Does This Mean for YOU?

Here’s the harsh truth:
If you’re trusting fund managers with your financial future, you might be paying high fees to underperform the market.

But if you’re willing to learn the right way — the Munger way — you don’t need them.

That’s why we created the Value Investing Case Study Subscription.

We break down real companies — their financials, risks, and valuation — so you can see how professionals think, without relying on “fortune tellers.”

👉 Scroll down to register for our FREE Webinar where we show you how you can use ViA Atlas to screen value companies for yourself!

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