Poor Charlie’s Almanack deserves a thread of its own!
This hard bound 532 page book was gifted to me by a friend in Oct 2008. A fascinating book - on Charles T Munger, his approach to learning, decision making, investing, his speeches, and more.
Munger is the silent “I have nothing to add” partner to Warren Buffet at Birkshire Hathaway since 1959. Buffet has the following to say about Munger, in the Foreword of this book.
“Look first for someone both smarter and wiser than you are. After locating him (or her), ask him not to flaunt his superiority so that you may enjoy acclaim for the many accomplishments that sprang from his thoughts and advice. Seek a partner who will never second-guess you nor sulk when you make expensive mistakes. Look for a generous soul who will put up his own money and work for peanuts. Finally, join with someone who will constantly add to the fun as you travel a long road together.”
“There was only one partner who fit my bill of particulars (the above) in every way - Charlie.”
Needless to say, I was excited with the book on my hands. It is an amazing book and a very inspiring read every time I laid my hands on it. Atleast thrice I have spent 3-4 hours at a stretch, fascinated and inspired, even uplifted…but you ask me next day what I had retained of it, I am not able to offer much. Yet, I remain convinced this is another very practical book. If only I were smart enough to figure out how to apply the principles in every-day decision-making and investing, I would be King!
Yes, it is that valuable a book! Butone needs to make some special efforts to GET it!It’s almost as if Munger has deliberately kept the fruits…just that bit out of reach…you need to work hard and smart to qualify.
This thread is dedicated to avid & passionate Munger fans! I am hoping some smarter and wiser (and kind) souls will come forward and help us unravel how to apply Charlie Munger’s Decision-making methods - Mental models -as he likes to call them.
Meanwhile we will keep adding resources on this page, and there should be many, that can get us on that road! Illumination will not happen overnight, remember, we need to qualify!