Some of us might not even have heard of the name Charlie Munger, but everyone is aware of the investment guru Warren Buffet. Munger is Buffett’s right-hand man and together they have experienced unparalleled success, building an investment firm with more than $880 billion in assets. The investment principle that brought them this remarkable success is known as value investing, a concept originally developed by Benjamin Graham. But why should young investors in their mid-twenties follow a long-term-oriented value investing strategy?

When I asked myself that question, being a 22-year-old, I first thought of incredible success stories like GameStop or Tesla and my willingness to take risks as my retirement is 45 years ahead. At the height…