Buffett: A lot of people love gambling in the stock market. People are drawn to leverage because they want to get rich quickly. Munger: Three things can lead to bankruptcy—alcohol, women, and leverage. Share this video with your friends who trade stocks, especially those in Korea, and let them take a good look at Buffett's investment philosophy. (Comment & Share) Buffett and Munger have hardly relied on leverage to make money over the decades. Their most important weapon isn’t predicting the market, high-frequency trading, or going all-in. It’s giving time enough room to let compound interest do its work. The biggest temptation of leverage is compressing the wealth of decades into just a few days. The greatest charm of compound interest is turning changes that are invisible in a few days into a gap that others can’t catch up to. The market is never short of stories about overnight riches. What’s truly rare is someone who can survive through multiple cycles.