Munger's take on building real wealth? Forget about owning dozens of stocks. While most investors obsess over spreading their bets everywhere, he stuck to a different playbook—picking a handful of exceptional companies and really knowing your shit about them. That's where the safety was, in his view. Deep conviction beats scattered bets. Owning a few businesses you truly understand beats the endless chase for diversification. The difference isn't subtle: one approach demands real knowledge, the other just requires checking boxes.