9.6 /10 1 Votes
5/5 Barnes & Noble Subject Investing OCLC 250631679 Publisher The Donning Company Country United States of America | 4.5/5 Goodreads Language English ISBN 1-57864-303-1 Originally published 2005 Editor Peter D. Kaufman Page count 480 | |||||||||||||||||||||||||||||||||
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Publication date 2005 (1st edition)
2008 (expanded 3rd edition) Pages 480 (1st ed.),
532 (3rd ed.) Financial economics books Common Stocks and Uncomm, The Most Important Thing: Un, The Essays of Warren Buffett: Le, Buffett: The Making of an Ameri, The Intelligent Investor | ||||||||||||||||||||||||||||||||||
Poor charlie s almanack the wit and wisdom of charlie munger book learning 3
Poor Charlie's Almanack is a collection of speeches and talks by Charlie Munger, compiled by Peter D. Kaufman. First published in 2005 (ISBN 1-57864-303-1), it was released in an expanded edition (ISBN 1-578-64501-8) three years later.
Contents
Poor charlie s almanack charles t munger mental models always invert
Overview
Charlie Munger is the long serving vice-chairman of Berkshire Hathaway. This book brings together his investing thoughts beyond his famous statement "I have nothing to add."
Munger is an admirer of Benjamin Franklin, and the book's title is a tribute to Franklin's Poor Richard's Almanack.
Net proceeds from sales of the book go to the Munger Research Center at the Huntington Library in San Marino, California.
Contents
Munger propounds the 'Multiple Mental Models' approach to decision making. This collection of 'Big Ideas from Big Disciplines' contains an iconoclastic checklist for decision-making.
The book is written in an unconventional style. 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. The pictures serve to make the idea vivid, again increasing their retentiveness, and add a bit of geeky humour to the book.
The "Lollapalooza Effect" is Munger's term for the confluence of multiple biases; according to Munger, the tendency toward extremism results from such confluences. These biases often occur at either conscious or subconscious level, and at both microeconomic and macroeconomic scales.
Ten talks
The book includes some talks given by Munger:
Reviews
In November 2005, Kiplinger's Newsletter wrote "Munger, 81, has always been media shy. That changed when Peter Kaufman compiled Munger's writing and speeches in a new book, Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger "
In August 2006, The Motley Fool wrote: "With 512 pages, there is something for everyone, and Poor Charlie's Almanack is an impressive and thorough tribute to one of the brightest, most pragmatic, and iconoclastic investment minds ever."