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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Poor Charlie’s Almanack: The Wit and Wisdom of Charles T. Munger by Charles T. Munger
Charllie best single way is to deserve good spouse. September Learn how and when to remove this template message. If you have a competence, you know the edge and boundaries. If you do not understand the human psyche, you will be manipulated.
He uses that curiosity to be a deep generalist in business. The power of the opportunity costs, how to use incentives and decision making are the core parts charlei this book. It’s shorter without lacking mungeer nor scope, but gives a great ‘introduction’ into Munger’s and Buffet’s way of thinking. The Wit and Wisdom of Charles T.
Also, incentives are superpowers. Its like the size of a photoalbum! Jul 03, Sagar Acharya rated it it was amazing Recommends it for: Know your own “circle of competence. On Japan recession and Hong Kong bubbles. Focus on the areas of your competence. 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.
It achieves the opposite, in my opinion, undermining a bit the respect for author.
Your goal shouldn’t be to throw stuff at the wall in the hopes of seeing what sticks. To view it, click here. Competitive destruction is fierce. If you’re human and you doing something on this planet or even on the other. Opening this huge book is like opening a treasure map giving you instructions on how to attain that treasure–whether it’s financial or intellectual.
The Wit and Wisdom of Charles T. I would call it a portrait of mungef remarkable mind. Archived from chharlie original on March 21, You should be working hard mungef a focused way, putting your best efforts into your best ideas. 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.
I read this partly because of my knowledge of Nancy Munger, once on the Stanford Library Visiting committee.
Here’s a representative exhortation to college students: Benjamin Franklin and Cicero to name two. I feel like I rate every book 5 stars these days, but there are just so many great books. Learn to discard models from time to time one your best model per year.
But that’s not enough: So for those who can’t manage to get the book I would highly recommend this reading for anyone who wants to get the most out of life, as well as gain a perspective on how his investment philosophy. This is not a book about finance, or how to beat the market — nothing so narrow in scope. Businesses with competitive advantages, which can survive alamnac in environment.
Charlie also doesn’t believe in retirement, he adheres to the not so pervasive mantra that you should partake in activities until death. Options cannot have no cost.
Summary “Poor Charlie’s Almanac” book – Victor Osyka – Medium
A bible for deep analysis and wisdom of one who proved his superior intelligence in real world business investments and helped build one of the most profitable businesses in the world. It’s big and costly, but it’s well worth it. He also writes about common pitfalls in lazy thinking and the benefits of disciplined analysis.
The ideas are not listed in an orderly fashion but just touched upon lightly, with pictures given alongside – in line with Munger’s idea to “make the mind reach out to the idea” thereby increasing the idea’s retentiveness in memory.
Poor Charlie’s Almanack Quotes
The book is a collection of Mr. Things that stood out to me from Charlie Munger: Japan had recession for — with minus one interest rate and no growth.
I’ll give to son Chris the copy I purchased, sales profits of which benefit the Huntington Library. Have a sense of humor.