I met the towering intellectuals in books, not in the classroom, which is natural. Charlie munger has a system that flips things on their head in a way that makes complete sense. Charlie munger is the vice chairman of the warren buffettled berkshire hathaway hes known buffett for 60 years, and has often shared his opinions on subjects like business, politics, and. Munger and buffet patiently observe until the shares attributed as worthless turn into a lucrative company. Feb 08, 2017 charlie munger reading uncommon sense. Below is an attempt to capture that wisdom in one shareable place.
Jun 03, 2014 if youre looking for a great book to read, this list of books recommended by munger is a great place to start. Jul 16, 2016 charlie munger summary july 16, 2016 april 11, 2019 niklas goeke personal finance 1sentencesummary. Over the years, there are many successful investors who have shared their wits with the world. Praise for the most important thing, warren buffett, chairman and ceo, berkshire hathaway if you take an. The book is presented in the form of a conversation between a seeker of wisdom, buffett, munger and in my view redundant a character called librarian.
Almost all successful entrepreneurs mention reading as one of their habits, but perhaps no one emphasizes reading as an attribute to success more than buffett. Charles munger still the best article ever written on. The psychology of persuasion a frequent and persistent recommendation from munger. There are more books out there than anyone can read in a lifetime so it makes sense to optimize your reading time and focus only on the best books. Poor charlies almanack is a collection of charlie mungers best advice given over 30 years, in the form of 11 speeches given as commencement addresses and roundtable talks. From this front row seat, youll see one of the greatest wealthbuilding records in history unfold, year by year. University of berkshire hathaway is a remarkable retelling of the lessons, wisdom, and investment strategies handed down personally from warren buffett and charlie munger to shareholders during 30 years of their closeddoor annual meetings. The best way by far to know charlie is to read poor charlies almanack. Common stocks and uncommon profits is one of the classic investment texts written for the lay person. And he has brilliantly distilled it into a conversational format.
Avoid these 5 things that guarantee a life of misery. Part of having uncommon sense is being able to tune out folly, as opposed to recognizing wi. In all his talks, he shows wit, rationality, and incredible clarity of thought. Charlie munger is an american investor, businessman, and philanthropist. Several lessons from charlie mungers uncommon sense from the 2019 daily journal corporation annual meeting. Charlie munger is warren buffetts righthand man here are 18 of. Charlie munger is the vice chairman of the warren buffettled.
But of course, when people use the word common sense, what they mean is uncommon sense. Even his ideas about common sense, are, well, uncommon, as he explained to me. Get the entire 10part series on charlie munger in pdf. May 5, 1995 the theory of modern education is that you need a general education before you specialize.
I set out to have more common sense than most, and im pleased i did as well as i did. Sure, you might occasionally buy a stock for less than the companys cashinthebank back then, at least. Charlie munger and warren buffett on margin of safety. Charlie munger is warren buffetts righthand man here are 18 of his most brilliant quotes may 3, 2019, 20. Organized common or uncommon sense very basic knowledge is an enormously powerful tool. Enjoy a great reading experience when you buy the kindle edition of this book. We do kind of mentally rub our own noses in our own mistakes. In multiple speeches, and in the book poor charlie s almanack. Charlie munger quickly identify mistakes and take action. Weiss is the founder and editor of the ways to wealth, a certified financial planner, husband and father of three. Jan 01, 2005 best known as warren buffetts longtime and mediashy investment partner, and as the progenitor of pithy wisdom at berkshire hathaways agms, poor charlies almanack the collected wit and wisdom of charles t.
Charlie munger warns about american finance business insider. The book errors when it claims munger became chairman of berkshire and starts stating. His successful investing career made warren buffett a high profile business person and in 2008 it was reported that there are around 50 books written about him or his investing strategies. He refers to it as inversion, and when combined with avoidance, it works wonders for example, instead of studying successful people in the hopes of also being successful, study what it takes to be unsuccessful and do the opposite. In 3 stock analysis insights, we highlighted the wisdom from warren buffett. Poor charlie s almanack, seeking wisdom, the most important thing, and a few lessons for invenstors and managers. Aug 07, 2018 based on that i figured i would put together a charlie munger reading list for other people that are interested as well similar to my list of warren buffett books. If you do, then you not only have wasted your money, but more importantly, even charlie munger s wisdom probably cant save you from yourself. Uncommon sense for the thoughtful investor columbia. All the passages below are taken from the book charlie mungerthe complete investor by tren griffin. Munger is an entertaining, gorgeous and worthwhile coffee table book for finance philosophers and biography aficionados alike. Damn right behind the scenes with berkshire hathaway.
In this summary of poor charlies almanack, ive extracted the most important points. Save it to your desktop, read it on your tablet, or email to your colleagues. Discover the books recommended by billionaires, icons, and worldclass performers. He is vice chairman of berkshire hathaway, the conglomerate controlled by warren buffett. Warren buffett howard marks, the chairman and cofounder of oaktree capital management, is renowned for his insightful. Hes known buffett for 60 years, and has often shared his opinions on subjects like business, politics, and success. Charlie mungers advice on investing and life choices that. Charlie munger teaches you the investment approach and ideas about life from warren buffetts business partner and billionaire charlie munger, which the two have used for decades to run one of the most successful companies in the world. Then he makes a subtle distinction, indicating that what they do is uncommon sense, since anything that is common must be vile. Here is charlie mungers first rule of value investing yahoo.
And when they say oh, joe has common sense, they mean he has uncommon sense. Charlie munger s comments on berkshire hathaway and wesco at the 2000 wesco financial annual meeting, may 15, 2000. I was looking at the bestselling investing books on amazon the other day. Mar 19, 2017 charlie thomas munger is an american business, philanthropist, and investor who works alongside with warren buffet as chairman of berkshire hathaway. Strengths and faults after considering interdisciplinary needs by charles t. President of the san diego press club, former financial editor of the san diego tribune and the author of 16 books, lowe s writing focuses on the leaders of specific industries. This book was a solid, short introduction to the world of charlie munger from an investing point of view. Charlie munger without numerical fluency, in the part of life most of us inhibit, you are like a onelegged man in an asskicking contest. A dozen things charlie munger has said about reading 25iq. Charlie munger is the vice chairman of the warren buffettled berkshire hathaway. More people would benefit from charlie if his thoughts were more accessible and if he was as prolific a writer as he is a reader. Of course when people talk about common sense, they mean uncommon sense.
Books recommended by warren buffett the ceo library. Dec 10, 2016 the little book of common sense investing is a great book providing great insights about investing and what drives return dividends and earnings growth together with a thorough discussion about historical market returns, what to think about when investing costs, taxes, inflation etc. Charlie munger and hes going to give us a few words today. This book is about the fictitious seeker, who has known a lot of misery, and his visit to the library of wisdom where he meets another fictitious character the librarian along. I thought it would be another compilation of financial mumbo jumbo and ratios. Below are a list of 20 books recommended by munger and four books about charlie munger. Still the best article ever written on stock picking leave a comment cancel reply.
I believe hes given away more copies of this book than. Investors and speculators will often encounter people, usually salespeople, but not always, who try to intimidate them. Charlie munger on uncommon sense the premature millionaire show the show about side hustles, investing, motivation, and retirement by daithi may 11, 2019 share. Poor charlies almanack by charlie munger book summary and. Charlie munger more people would benefit from charlie if his thoughts were more accessible and if he was as prolific a writer as he is a reader. Charlie munger and donald trump agree in these 3 ways david clark is an investor, attorney and the coauthor of eight books on warren buffett. Charlie munger is another famous investor and warren buffetts righthand man. Serwer then focuses on the speeches at the annual meeting, mentioning that a lot of it is common sense. Poor charlie s almanack the wit and wisdom of charles t. The great charm of charlie munger is his simple, no frills approach. Although largely focused on linking to investing and economic material it deems of interest, it will also post and link to material from other disciplines. I had thomas jefferson over my bed at seven or eight. If youre looking for a great book to read, this list of books recommended by munger is a great place to start. And i think to some extent, before you are going to be a great stock picker, you need some general education.
I think were warren buffett and charlie munger pretty good at that. This book is for those who love efficiency, simplicity and common sense or judgment. This entry was posted in books, worth rereading and tagged business, charlie munger, finance, investing, mental models, peter bevelin, warren buffett, worth rereading on july 29, 2016 by blas. Charlie munger quotes about common sense az quotes. According to the berkshire hathaway vice chairman, we have a vast gambling culture, and. Rather than just seeking value, fisher realized that even a greatly undervalued company could prove a horrible investment. Uncommon sense for the thoughtful investor howard marks. Part of having uncommon sense is being able to tune out folly, as opposed to recognizing wisdom. Behind the scenes with berkshire hathaway billionaire charlie munger. Behind the scenes with berkshire hathaway billionaire charlie munger, gives further evidence of lowe s expertise on moneyrelated success. The 10 best investing books to help you navigate a. Charlie munger on uncommon sense by the premature millionaire.
Charlie mungers value investing principles checklist. Please dont buy this, it makes no economical sense to buy a book that is entirely replicated in a book that is half the price and has four times the amount of content. There is a method to his mastery and, through this book, we get a chance to learn. Munger has been a vice chairman of berkshire hathaway for decades. Charlie munger recommended at the 2007 wesco annual meeting. Yet, as munger recently reflected, the common sense necessary to inform good decisionmaking is actually far from common. It has so many incredible nuggets of great advice of how to live a happy, memorable andsuccessful life. In this short book 192 pages tren griffin gives us a selection of wellchosen quotes from which we can built up a picture of charlie munger the man and charlie munger the investor not that theres much difference between the two. Munger s worldly wisdom consists of a set of mental models framed as a latticework to help solve critical business problems. Because the standard human condition is ignorance and stupidity. Charlie mungers uncommon sense eases berkshire succession.
Jul 12, 2015 charlie munger on uncommon sense posted on june 14, 2015 june 14, 2015 by value book from poor charlie s almanack. Its an excellent book, the best book ive ever read, by far, in my life. If you are a fan of warren buffett, you will like this book. Charlie munger it is really useful to be reminded of your errors. A compilation of quotes from berkshire hathaways vice chairman on life, business, and the pursuit of wealth with commentary by david clark by. A dozen things charlie munger has said about reading july 26. Charlie munger is warren buffetts righthand man here are. For those interested in charlie munger this book is great. Praise for the most important thing, warren buffett, chairman and ceo. He is also chairman of daily journal corp and director of costco wholesale corperation. This book is about the fictitious seeker, who has known a lot of misery, and his visit to the library of wisdom where. Organized common or uncommon sense very basic knowledgeis an enormously powerful tool. The best way by far to know charlie is to read poor charlie s almanack.
May 18, 2016 business books 10 book recommendations from warren buffetts righthand man avid reader charlie munger shares his top picks. I always learn something, and that goes double for his book. When people use the words common sense, what they mean is uncommon sense, because the standard human condition is ignorance and stupidity. May 07, 2018 value investing has changed over the years, but the fundamental way its disciples think about it hasnt, according to berkshire hathaway brk. Charlie munger on intellectual development and common sense. This book is part biography, part investing advice. Value investing world is a blog dedicated to promoting the multidisciplinary approach to investing and development of as charlie munger describes it a latticework of mental models. Charlie munger is truly the broadest thinker i have ever encountered. Oct, 2015 in this short book 192 pages tren griffin gives us a selection of wellchosen quotes from which we can built up a picture of charlie munger the man and charlie munger the investor not that theres much difference between the two. Munger, along with buffett, is one of the main inspirations behind the book seeking wisdom. Warren buffett, chairman and ceo, berkshire hathaway. He has earned millions of dollars for his hedge fund over the last thirty years shorting the stocks.
And who could forget the warren buffett classic how to day trade. Charlie munger is warren buffetts righthand man here. How compounding works in the stock market a wealth of common sense charlie munger on. The bookstore at the 2010 berkshire hathaway advised that this book was charlies recommendation. It has a ton of munger quotes, but griffin also does a solid job weaving in quotes from other famous investors like warren buffett and seth klarman.
Charlie munger says living by this rule is key to his success. Charlie munger on the art of successful investment. About charlie munger charlie munger is one of the great minds of the 20th century. Buy at a significant discount to intrinsic value to create a margin of safety 36. Charlie munger s uncommon sense eases berkshire succession. It says, buffett and munger a study in simplicity and uncommon, common sense. Peter kaufman, ceo of glenair, who wrote this book, poor charlies almanack about charlie munger. Charlie munger reassures investors that berkshire hathaway has a thoughtful succession plan. Warren buffett, benjamin graham, philip fisher, charlie munger, peter lynch, seth klarman, joel greenblatt, etc are few of the famous investors who have inspired the world by their words of wisdom.
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