May 16

Charlie Munger's 3 Timeless Investment Lessons (That Too Many Investors Ignore!)

Share this article:

Most people have heard of Warren Buffett. But fewer truly study the wisdom of his legendary partner — Charlie Munger, the man who helped shape Berkshire Hathaway into the investment powerhouse it is today.


Even after his passing in 2023 at age 99, Munger's ideas live on — and if you're serious about becoming a smarter investor, you'd do well to internalize these three powerful principles.


Let’s break them down — the ViA way.

1. Buy Wonderful Businesses at Fair Prices — Not Fair Businesses at Wonderful Prices

Sounds familiar? That’s because this is the heart of value investing.


A lot of investors get it wrong. They’re chasing cheap stocks. They’re constantly hunting for "undervalued" companies that are trading below book value, earnings multiple, or whatever fancy metric the internet is hyping this week.


But what did Munger say?


“It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price.”


Why? Because cheap companies often stay cheap. They have mediocre growth, poor management, and sometimes even shady practices.


On the other hand, wonderful businesses — the ones with pricing power, strong brands, and ethical leadership — tend to grow earnings consistently over time.


You’re not just buying a stock. You’re buying into a money-making machine that compounds your capital year after year.


So the next time you're tempted by a "cheap" stock, ask yourself: Is this company truly wonderful?

2. Big Money Is Made Not in the Buying or Selling… But in the Waiting

This is where most investors fail.

They get in, they get out. They panic when the market drops. They celebrate when it rises — only to jump ship and miss the real gains.

But Munger? He was a master of patience.

“The big money is not in the buying and selling, but in the waiting.”


Think about it.

Apple didn’t become a trillion-dollar company overnight. Amazon wasn’t profitable for years. But the investors who stayed in? Who believed in the business model and waited?

They won big.

At ViA, we show our students how to find stocks that are built to last. Then we teach them to sit tight and let compound interest work its magic.

So stop watching the market every day. Start studying the business. And wait.

That’s where the magic happens.

3. Good Businesses Are Ethical Businesses

Here’s something most people overlook — and Munger emphasized it again and again.


“Good businesses are ethical businesses.”


You see, companies that lie, cheat, or mistreat their customers may win short-term, but over time? They collapse.


Look at the companies that survive decades — Johnson & Johnson, Costco, Berkshire Hathaway itself. These are businesses built on trust, honesty, and long-term value creation.


At ViA, we screen our case studies not just for growth or profitability — but for integrity.


Because if a company isn’t ethical, we don’t touch it. Simple as that.

Final Thoughts

Munger may be gone, but his wisdom is evergreen.


If you internalize these three ideas — buy wonderful businesses, wait patiently, and prioritize ethics — you'll be miles ahead of the average investor chasing the next hot tip.


Want to see how we apply these principles to real stocks, with real case studies?


Scroll down below to register for our free webinar where I walk you through step-by-step how we analyse wonderful businesses — even in today’s market.

Share this article

See Value Investing in Action

In this live session, you'll see a step-by-step company analysis demonstrated by Cayden Chang, founder of Value Investing Academy. 
Write your awesome label here.

Presented by Cayden Chang

Founder of Value Investing Academy and Award-Winning International Speaker, Lifelong Learner Award 2008, Personal Brand Award 2017


You will learn:

  • A deep dive into a fast-growth company case study.
  • The key financial metrics used when evaluating whether a stock has strong growth potential
  • Step-by-step guide on how to apply the Value Investing Methodology on real-life companies
  • The exact criteria that successful investors use when evaluating any company
  • How to determine the intrinsic value of a stock so you will know exactly when to enter or exit the market
  • How ViA Atlas Intrinsic Value (IV) Directory can get you started on building your own portfolio of superhero stocks, even for busy professionals without much time to spare.


Click the button below to reserve your spot now.