Jul 26, 2015 a dozen things charlie munger has said about reading july 26, 2015. In my whole life, i have known no wise people over a broad subject matter area who didnt read all the time none, zero. Danielle town explains charlie mungers 4 principles of. When there are new books recommended by charlie munger i sit up and take notice. This book is both monsterous and a complete pleasure to read. In all his talks, he shows wit, rationality, and incredible clarity of thought. Ive tried to keep track of and read every recommendation he has made and ive yet to be disappointed.
Weve only bought two or three companies and made a few big stock purchases. Favobooks contains book recommendations of famous people. Charlie munger i always like it when someone attractive to me agrees with me, so i have fond memories of phil fisher. Charlie munger story bio, facts, networth, home, family. Charlie argues that people respond most strongly to what they view as their incentive or disincentive. Charlie mungers investing principles checklist gurufocus. Stock investor makes selfdirected investing easy with investment recommendations from our investing experts. Spend each day trying to be a little wiser than you were when you woke up. This book offers a treasure trove of financial wisdom in the form of speeches and essays. As usual, his wisdom is notorious as he mentions how he applies multidisciplinarity, opportunity costs and several other factors to reach a discount rate. Goldsteins book almost reads like a marketing manual, from its laws of scarcity and reciprocity, to its focus on the influence of positive rather than negative values. 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.
Day by day, and at the end of the dayif you live long enoughlike most people, you will get out of life what you deserve. Charlie mungers 30 best zingers of all time the motley fool. Billionaire charlie munger says living by this rule is key. Poor charlie s almanack, edited by peter kaufman originally published in 2005. Danielle town, author of invested, learned about the stock market from studying pros like charlie munger and warren buffett. Jul 16, 2016 charlie munger summary july 16, 2016 april 11, 2019 niklas goeke personal finance 1sentencesummary. This is still the best talk ever given on the art of stock picking by charles munger. Im just curious to calculate how much a human would read if they read a fairly small amount per day for m. As recently as the second quarter of 2012, berkshire hathaway.
Perhaps the most important rule in management is to get the incentives right. A compilation of quotes from berkshire hathaways vice chairman on life, business, and the pursuit of wealth with commentary by david clark clark, david on. Danielle town explains charlie mungers 4 principles of investing. Charlie munger on management with talent and integrity the. Charlie munger i have always imagined that paradise will be a kind of library.
In business, there is almost always someone else involved in whatever you are trying to do. Click here and here to see warren buffetts and charlie munger s book recommendations over the years. Read cnn s fast facts about charles charlie munger and learn about the righthand man and business partner of warren buffett. Poor charlie s almanack, seeking wisdom, the most important thing, and a few lessons for invenstors and managers. The lessons that munger provides are timeless and its an absolute must read for all investors. In this discussion charlie first talks about common sense and how it is not common. Charlie munger munger is one of the best investors of our time you can see more on mungers resource page. Former wesco board member and fellow charlie admirer, peter kaufman came up with the brilliant idea of putting together a book that would honor charlie and capture. Charlie munger we think there should be a huge area between what youre willing to do and what you can do without significant risk of suffering criminal penalty or causing. 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.
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. Warren buffett gives back most gains on byd forbes. Munger has never stated how many books he has read. Risk all investment evaluations should begin by measuring risk, especially reputational. A dozen things charlie munger has said about reading 25iq. In economics textbooks they teach you greshams law. Feb 08, 2017 39 book recommendations from billionaire charlie munger that will make you smarter. How many books has charlie munger read in his entire lifetime. Joe kosters summary of charlie mungers investing principles checklist, according to poor charlies almanack. He lives the life lessons that he has studiously extracted from other true heroes and mentors, from ben franklin to ben graham. Munger is also one of the main inspirations behind seeking wisdom. In this summary of poor charlies almanack, ive extracted the most important points. The idiotic ideas are all from the social science department and i would put economics in the social sciences department although it has some tinges of reality that remind you of arts and science. With decades of wall street experience, we publish investment newsletters and website articles offering advice on the best stocks, options, etfs and mutual funds to invest in for both dividends and capital gains.
Dec 24, 2012 delegate, but not everything with only a little over 20 people working at berkshire, buffett and munger must leave it to the managers to run the businesses in the portfolio since they dont have the staff to do otherwise. This complete summary of the ideas from tren griffins book charlie munger gives an insight into the mind of charlie munger, one of the worlds most successful investors and warren buffets longterm partner. The key to investing is not assessing how much an industry is going to affect society, or how much it will grow, but rather determining the competitive advantage of any given company and, above all, the durability of that advantage. Negotiating agreement without giving in by roger fisher, faraday. Brkb shareholder meeting, vice chairman charlie munger railed against executive. Billionaire charlie munger says living by this rule is key to his success more billionaire charlie munger knows a thing or two about what it takes to achieve success. Here is an excerpt from the article, the art of stock picking by charles munger. 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. Thanks a lot your the commonplace book post, it was probably one of the most influencial pieces ive read lately. Book lists from barack obama, steve jobs, mark cuban, bill gates and others. Housed inside youll find anything and everything you want or need to know about charlie munger and his approach to life and investment. The children of charlie munger, warren buffets business partner, are duking it out with california gov. Aug 07, 2018 when there are new books recommended by charlie munger i sit up and take notice.
Diversification in an investment portfolio is for the know nothing investor says warren buffett, according to charlie munger in this lesson on value investing, success, and rational thinking. Munger is known to read quite a lot of books on varying topics. Charlie munger if you tell the truth, you dont have to remember your lies. Charlie munger structured his business life in such a way that he acquired cashgenerating assets so that he could always have money coming. Stunning books charlie munger recommends everyone to read. This is, of course, by choice since what the two men love most is investing. Poor charlies almanack, seeking wisdom, the most important thing, and a few lessons for invenstors and managers. A book recommended by bill gates and charlie munger. 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. Heres a list of every book warren buffett has recommended.
Charlie munger built his fortune by seeking income first. Charlie mungers 30 best zingers of all time wisdom condensed. Apr 12, 2016 as the notes of the 2015 daily journal annual meeting are released, we encounter some of charlie munger trades, portfolios answers to questions regarding valuation. Recommended reading list charlie munger munger is one of the best investors of our time you can see more on munger s resource page. Gates said, the book had a profound effect on the way i think about history and why certain societies advance faster than others. Munger is an entertaining, gorgeous and worthwhile coffee table book for finance philosophers and biography aficionados alike. Charlies most basic guiding principles, his fundamental philosophy of life. Book suggestion from outstanding entrepreneurs, great politicians, people you admire. Books by and about charlie munger invest like the best.
A dozen things charlie munger has said about reading july 26, 2015. How many different things has wesco done since blue chip stamps. Run, dont walk, to buy charlie mungers favorite stock. Charlie munger is the billionaire business partner of warren buffett and the vice chairman at berkshire hathaway, one of the largest companies in the world. Jun 15, 2017 diversification in an investment portfolio is for the know nothing investor says warren buffett, according to charlie munger in this lesson on value investing, success, and rational thinking. Books recommended by charlie munger score a book s total score is based on multiple factors, including the number of people who have voted for it and how highly those voters ranked the book.
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