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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There Poor Charlie got on my list because Drew Houston of Dropbox said it was one of the best books he had ever read.

Inspired me to buy a lot of other books referenced throughout! Nov 28, Jonna Gjevre rated it really liked it Shelves: As Munger sees it, we could do worse than to emulate Albert Einstein, who once said his successful theories came from “curiosity, concentration, perseverance, and self-criticism.

Munger urges readers to be self-aware. Balance sheet is OK, accounting is OK, but competitive advantage is a very broad thing: Charlie also doesn’t believe in retirement, he adheres to the not so pervasive mantra that you should partake in activities until death.

How academia can teach this? When we look at a business only through the books they keep, that is from only a financial perspective, we might miss seeing potential pitfalls of the business’s management, or the potential of their research, or the unique market that they might be creating. Started as a lawyer in LA, then established a partnership with colleagues.

Summary “Poor Charlie’s Almanac” book – Victor Osyka – Medium

He talks at length about psychology and how important it is and how it can be improved, along with lots of other b I feel like I rate every book 5 stars these days, but there are just so many great books. Aug 10, Nicholas Piva rated it it was amazing. The format and size make this book very unusual – very heavy to read, requiring a table or pillow on which to rest this tome. Japanese are workers by culture. I don’t believe it is at all misplaced though it did lead to several more book purchases.

If almost everybody will stick to index investing, it will suck. It’s a monster – huge, unwieldily to hold and read, but a truly valuable and insightful book. Made me reflect more on unhealthy bias often subconscious in investing and academia. To see what your friends thought of this book, please sign up. Return to Book Page. Learn to discard models from time to time one your best model per year.

Basically, you attain the major ideas of the big disciplines, the more disciplines you have the wider your perspective is, therefore the more objective you are towards problems. Straight to the point. Must read and must study book. His famous diagnosis for narrow specialisation: It is important to understand boundaries of your competence, your circle of competence.

So you not only: People start trying to hedge against interest rate changes, which is very difficult and complicated. Robert Cialdini called Influence, aomanac I will be reading soon. So for those who can’t manage to get the book I almost couldn’t please google and read them.

Munger, like Franklin before him, has varied interests and is insanely curious. The first part consists of Munger’s life stories, as mknger as what close friends and family say about Munger. The idea of excessive diversification is madness Cost of capital is misleading. The bulk of the text though is, as the subtitle suggests, the wit and wisdom of Mr.

This is why it took me months to go through. Ethics Doing right things paid them off all the time. But it is not just relevant for business objectives but for philosophical thinking and the deep understanding of things. 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 almznac to read. Screening and selection of business into 3 investments per year is like a survival in a almanxc Darwinian process in the ecosystem.

Hi, Is Poor Charlie’s Almanack: What he preaches is to understand the big ideas in all the big disciplines, instead of becoming yet another “man with a hammer”. From family of lawyers etc. Books by Charles T. He values both of their perpetually viable thoughts on their ideas regarding life. Anyways, you can read about there successes in relation to business in many books.

He is a life long learner. You’ve poured effort and money in.

But you build discipline by preparing for fast spurts. Risk management is crazy for sure. Mungwr view it, click here. 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.

From Wikipedia, the free encyclopedia.

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

An idea on Wall Street that quarterly results matter make an enormous pressure on the stock prices, misleading in all ways. We need to avoid addiction, avoid envy and resentment, avoid toxic and dishonest people, avoid making disastrous mistakes. This looks like a correct reality to me. You want to deliver to the world what you would kunger if you were on the other end.

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