Poor Charlie’s Almanack is a collection of speeches and talks by Charlie Munger, compiled by Peter D. Kaufman. First published in (ISBN ). 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. 30 Jul Summary “Poor Charlie’s Almanac” book. by Charlie Munger, life-long partner of Warren Buffet at Berkshire Hathaway. Book is kinda big,

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View all 3 comments. Want to Read saving…. More important than I. Thanks for telling us about the problem.

That kind of decision-making skill can serve every area of our lives. That’s the way it hangs together in usable form so that you’re an effective thinker” “I think when muunger buying jewelry for the woman you love, financial considerations probably shouldn’t enter into it. It is filled with grandfatherly common-sense wisdom. Therefore, they choose to spend a lot of time making each decision with patience, and let the outcomes of those decisions compound.

The Wit and Wisdom of Charles T. There is no doubt you have heard of Berkshire Hathaway, one of the biggest hedge funds in the world.

Reading a lot, all the time. The last section of the book contains a nice primer on the common psychological biases and how they can blind you. Never miss a story from Victor Osykawhen you sign up for Medium.

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

You need different check lists for different companies. This book taught me to consider the second-order and wlmanac effects just as much as the first-order. Charlie is a polymath. Munger writes about the importance of becoming a lifetime learner.

He also writes about common pitfalls in lazy thinking and the benefits of disciplined analysis. May 27, Douglas rated it it was amazing Shelves: This led to many nations-wide excessive distortions and accounting games.

People in each dept. Other Ethos of not fooling yourself is very important Avoid personal debts. Recognizing wisdom is important, too. Know your own “circle munegr competence. He is coined with the modern concept of a the ‘Multiple Mental Model’, a verily profound thought that basically is the polar opposite of specialization. And he is conscious of bettering himself daily; his mentors are the eminent dead: Once in a while, they’ll find something and invest in it.

Five stars, no doubt. I will say this book is now added to my favorite list.

Poor Charlie’s Almanack – Wikipedia

What he preaches is to understand the big ideas in all the big disciplines, instead of becoming yet another “man with a hammer”. Financial institutions make all us nervous because they are too leveraged. Colorful Charlie as Warren describes him speaks his mind and Munger is a wisdom god. Core model for investing is a psychology of human misjudgment.

But you’ve got to learn a lot more that they don’t teach because they don’t handle their own subjects corectly ” “If something is very important but can’t be perfectly and precisely demonstrated because of ethical constraints, you can’t just meant it like it doesn’t exist.

Munger’s exposition is great for beginners. Goodreads helps you keep track of books you want to read. Actually Rome took a while to get started because they valued the fundamentals of their empire.

My children laugh at me.

Poor Charlie’s Almanack Quotes

It’s clear that Munger understood biases and how we tend to fool ourselves long before Thinking Fast and Slow was released. If CEO made a company, and in his sixties, how an option would help? Munger shares with us his wisdom and expound them with great examples.

Options produce terrible behaviour. Charlie Munger is the “silent” partner to Warren Buffet, and after reading both authors’ books about money, economics, and business acumen – I find Charlie Munger far more engaging. Charlie Munger is a world-renowned business magnate, along with his more prolific partner, Warren Buffet.

Slug it out one inch at a time, day by day.

As Charlie says, “In my whole life, I have known no wise people over a broad subject matter area who didn’t read all the time — none, zero. Other reviewers did the job very well. The book is filled with r This is likely the most important book I’ve read to date. You should be working hard in a focused way, putting your best efforts into your best ideas. Variety of models is required. Learned these models by himself. I feel smarter reading this book.

This collection of ‘Big Ideas from Big Disciplines’ contains an iconoclastic checklist for decision-making. Also strive to learn more, to see the light that isn’t so conspicuous, although it is prominent.