Never wished for Trump to be president when talking about market fluctuations! Charlie Munger's life advice: You will eventually miss all of this.

After Trump was elected President of the United States, he imposed tariffs on the whole world to revitalize the American economy, vowing to make America great again. However, this move led to significant fluctuations in the global financial markets, and recently there has been widespread lamentation. Some have bought the dip and become wealthy, while others could not withstand the huge fluctuations, not only going bankrupt but also losing their lives.

And as Warren Buffett's longtime partner Charlie Munger (Charlie Munger) pointed out during his lifetime, Trump was "excessively vain and loves to exaggerate", and he did not want to see Trump elected as president. However, when it comes to market fluctuations, he stated that he has long been accustomed to it, and he reminded investors: "If you panic when the market goes down, then you are destined to only receive ordinary returns."

Trump is excessively vain and exaggerates, completely unfit to be the President of the United States.

Munger stated during an interview in his lifetime that he did not want to see Trump elected president at all. He further pointed out that Trump's excessive vanity (Vain Glory), exaggeration (Puffery), and other personality traits are completely not the qualities that a president should possess.

But a year later, Munger responded during an interview: "I have chosen to let go of hate. Both parties in the United States are caught in an atmosphere of mutual animosity, and this helps no one."

He added that learning to be more open-minded and not to hate politicians so much is a form of self-protection mechanism to avoid being consumed by hatred.

Relying on rereading "The History of the Decline and Fall of the Roman Empire" to relieve boredom, the world isn't actually that bad.

In order to feel a bit better in the face of a chaotic political situation, Munger once shared his psychological remedy, which is to reread The History of the Decline and Fall of the Roman Empire.

He also mentioned that he felt much better after watching it and suggested that everyone should give it a try.

Panic when encountering a decline, and you will inevitably only receive ordinary returns.

In light of the recent market fluctuations that have led many investors to exit the market, Munger had shared his words of wisdom during his lifetime.

Having experienced multiple financial storms and economic fluctuations throughout his life, he stated that as long as one adheres to long-term investments, there is a possibility that stock values could drop by 50%, which is the essence of the market.

"If you cannot accept such fluctuations, you can only receive relatively mediocre rewards. Therefore, be fearful when others are greedy, and be greedy when others are fearful."

In the face of market fluctuations, the key lies in daily discipline.

Munger once said in an interview in 2011: "In this life, there will definitely be many great fluctuations in the market. I don't know how big or how long each one will be, but I can tell you the best way to respond. That is to live seriously every day, maintain discipline, and do what needs to be done."

Buying the dip is the winner's mindset, don't be a coward.

Munger believes that every significant market decline is actually an opportunity for investors to widen the wealth gap. He shares his grandfather's view: "There are not many truly good opportunities in a lifetime, and most people only have a few chances to turn their lives around."

Therefore, he advised everyone: "When a good opportunity arises, please don’t act like a coward, shrinking back and afraid to move. When it’s time to take action, take action. Don’t foolishly leave your money sitting idle, waiting."

Everything will pass, and those who hate Trump will eventually miss him.

Finally, he shared his counterintuitive quote about politicians: "No politician will be so bad that you won’t miss him in the future. One day you will miss those you once hated."

He astonishingly said, "There will definitely come a day in the future when those who currently hate Trump will wish for his return. I may not live to see that day, but I dare say, that day will surely come."

This article never hoped for Trump to be president and talks about market fluctuations! Charlie Munger's life advice: You will eventually miss all of this first appeared in Chain News ABMedia.