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

Charles T. Munger — 2006

Charles Munger is Warren Buffett decade's long business partner, and his investment filter, jokingly called by Mr. Buffett - the abominable no man. The early pages cover Munger's family history, his framework for investing [wait for the fat pitches, and assess each opportunity using rational, rigorous frameworks drawn from multiple disciplines (and not finance theory!)], and even some warm testaments from family, friends and colleagues. The next section, assembled by leading investor Whitney Tilson, is well edited and benefits from Tilson's massaging of quotations made over time into logical sub-headings. The bulk of the text though is, as the subtitle suggests, the wit and wisdom of Mr. Munger as conveyed through various speeches in the last couple decade or so before 2006.

Reviews

Timeo Williams@timeowilliams

Jun 5, 2024

1. Reward and Punishment Superresponse Tendency 2. Liking/Loving tendency 3. Disliking/Hating tendency 4. Doubt-avoidance tendency 5. Inconsistency-Avoidance tendency 6. Curiosity Tendency 7. Kantian Fairness Tendency 8. Envy/Jealousy Tendency 9. Repciprocation Tendency 10. Influence from Mere Association Tendency 11. Simple, Pain-Avoiding Psychological Denial 12. Excessive Self Regard Tendency 13. Overoptimism Tendency 14. Deprival-Superreaction tendency 15. Social-proof tendency 16. Contrast-misreaction tendency 17. Stress-influence tendency 18. Availability-Misweighing tendency 19. Use-it-or lose it Tendency 20. Drug misinfluence tendency 21. Senescence-Misinfluence tendency 22. Authority-Misinfluence tendency 23. Twaddle Tendency 24. Reason-Respecting Tendency 25. Lollapalooza Tendency

Jb@jbr1992

Mar 1, 2024

Enjoyable, folksy synthesis of some great ideas. A bit long and dense. I’m not surprised it took me two years to get through.

Heiki Riesenkampf@hrk

Dec 18, 2023

Strong book, but I wish I had a paperback version of it. Mostly funny stories around Munger's life knowledge. Had some very good one-liners to live by. For example: "If you tell the truth, you don't have to remember your lies." or to practice extreme patience combined with extreme decisiveness. Recommend.

ANDREW BRYK@andrewbryk

Feb 13, 2022

One of the best business books I've ever read. Needs to be re-read at least once a year

Angel Herrera@aherrera

Dec 29, 2021

Tied for my favorite book ever. Charlie is a genius. Tons of life advice and investing advice. Will make you want to learn more about everything in the question for what he calls "worldly wisdom."