Name: Poor Charlie's Almanack
ISBN: 9781578645015

Charles T. Munger

The Wit and Wisdom of Charles T. Munger

Poor Charlie's Almanack

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.

Timeo Williams

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

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

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

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

Angel Herrera

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."

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

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