The Wit and Wisdom of Charles T. Munger: Poor Charlie’s Almanack, Seeking Wisdom, The Most Important Thing, and A Few Lessons for Invenstors and. Poor Charlie’s Almanack has ratings and reviews. Ian said: Best known as Warren Buffett’s long-time and media-shy investment partner, and as th. Poor Charlie\ almanack: rhc \\It:tnd “”dom of Charles T.\Iunger I edited b’ .. well, all thanks to the wit, wisdom, speeches, and writings of Charlie Munger-this.

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Tversky and Kahneman’s work on irrational decision-making is still changing the world. Letter to shareholders, Five stars, no doubt. Breaking news and analysis from TIME. But find what turns you on. I swear I ended up carving out a chunk of time to finish this book just because I found it annoying to deal with. I will say this book is now added to my favorite list.

I feel that I’m not entitled to have an opinion unless I can state the arguments against my position better than the people who are in opposition. Without lifetime learning, he says: Munger talks cnarlie psychology, human errors and how to fix them.

This is a compilation of Munger’s addresses, comments at investors’ meetings, and personal comments from friends, business associates, and his family, interlarded with quotations Charlie used from ancients and moderns extracted from over two thousand years of wisdom and errors.

Poor Charlie’s Almanack: The Wit and Wisdom of Charles T. Munger by Charles T. Munger

Everyone should take up this study, the second most pragmatic subject of the soft-sciences. Read his book and think better. Munger urges readers to be self-aware. September Learn how and when to remove this template message. Averaged out, money is a mainspring of modern civilization, having little precedent in the behavior of nonhuman animals.

That’s the way it hangs together in usable form so that you’re an effective thinker” “I think when you’re buying jewelry for the woman you love, financial considerations probably shouldn’t enter into it. Nevertheless, the book has two flaws that distract from overall superb impression and could be remedied with simple editing: And partly charpie I thought there may be a word or phrase which related to my own business experiences over 50 years, instances and style and standards which might reverberate in a book of my own learning experiences as a university librarian.


Poor Charlie’s Almanack – Wikipedia

Everyday he lives by the mantra to go to bed with more prudence than when you first awoke; he always has a book near him for reference or to read. People who make good decisions do exactly that. almwnac

So it is also with al,anac working for money—only more so, because human money is exchangeable for many desired things in addition to food, and one ordinarily gains status from either holding or spending it. It is a book about how to think.

Poor Charlie’s Almanack: The Wit and Wisdom of Charles T. Munger

Nov 28, Jonna Gjevre rated it really liked it Shelves: These biases often occur at either conscious or subconscious level, and at both microeconomic and macroeconomic scales. The bulk of the text though is, as the subtitle suggests, the wit and wisdom of Mr. Charles Thomas Munger is an American business magnate, lawyer, investor, and philanthropist. Warren Buffett, Berkshire Hathaway chairman and CEO, talks about volatility in the market, the value of American business and what to look for when investing The book is filled with references to the most important mental models in a dozen disciplines, and I’ve spent hours and hours deep in Wikipedia rabbit holes from interesting sources and references.

One of the best books on business and psychology I’ve read. The ” Lollapalooza Effect ” is Munger’s term for the confluence of multiple biases [ citation needed ] ; according to Munger, the tendency toward extremism results from such confluences. Charlie came along and introduced another type which is akin to the foregoing concept, except with a more ironclad adherence to the buy and hold, and almost never sell. To see what your friends thought of this book, please sign up.


He doesn’t recommend becoming a master in all these fields as that’s not practical for non-geniuses, only taking the best and most known principles from each and using them to improve your decision making and problem solving.

If you bat away many things, you don’t clutter yourself.

I read this partly because of munged knowledge of Nancy Munger, once on the Stanford Library Visiting committee. Munger would patiently sit on tens of millions of dollars for months or years, waiting for the right opportunity to come along. Munger writes about the importance of becoming a lifetime learner. Reading helps us to think, feel, and reflect — not only upon ourselves and others but also our relationship with the world.

Though it will likely have a narrow readership, this book is a rare combination of insight, wit, and achievement, strung together with very capable editing and a interesting and visually appealing layout. He is Vice-Chairman of Berkshire Hathaway Corporation, charlje diversified investment corporation chaired by Warren Buffett; in this mungre, Buffett describes Charlie Munger as “my partner.

The last chapter is the best part. And he fashions himself a modern day Benjamin Franklin, hence the title of the book. And he is conscious of bettering himself daily; his mentors are the eminent dead: I’m not gonna praise Munger’s wisdom again. I don’t deny that there is wisdom as well as wit within this book, but Munger’s basic points could be distilled into: