Charlie Munger, Berkshire Hathaway’s visionary vice chairman and Warren Buffett’s indispensable financial partner, has outperformed market indexes again and again, and he believes any investor can do the same. His notion of “elementary, worldly wisdom”―a set of interdisciplinary mental models involving economics, business, psychology, ethics, and management―allows him to keep his emotions out of his investments and avoid the common pitfalls of bad judgment.
Munger’s system has steered his investments for forty years and has guided generations of successful investors. This book presents the essential steps of Munger’s investing strategy, condensed here for the first time from interviews, speeches, writings, and shareholder letters, and paired with commentary from fund managers, value investors, and business-case historians. Derived from Ben Graham’s value-investing system, Munger’s approach is straightforward enough that ordinary investors can apply it to their portfolios. This book is not simply about investing. It is about cultivating mental models for your whole life, but especially for your investments.
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Munger Blog Posts
12.19.2015 {150th Blog Post} – Why does Charlie Munger not invest in high-technology businesses?
12.12.2015 – What are Charlie Munger’s views on giving back to society
12.5.2015 – What does Charlie Munger mean when he says that something is a lollapalooza?
11.27.2015 – Will there ever be another Charlie Munger?
11.21.2015 – Why and how do Munger and Buffett “discount the future cash flows” at the 30-year U.S. Treasury Rate?
11.14.2015 – Charlie Munger AMA: How does Charlie Munger recommend dealing with adversity?
11.7.2015 – AMA on Charlie Munger: What did Charlie Munger Learn from Phil Fisher?
10.30.2015 – A Dozen Things I’ve Learned from Charlie Munger (Distilled to less than 500 Words)
10.24.2015 – A Dozen Things I’ve Learned from Charlie Munger about Ethics
10.17.2015 – A Dozen Ways Charlie Munger Thinks like Philip Tetlock Suggests in his New Book Superforecasting
10.10.2015 – A Dozen Things I’ve Learned from Charlie Munger about Moats
10.3.2015 – A Dozen Things I’ve Learned from Charlie Munger about Capital Allocation
9.26.2015 – A Dozen Things I’ve Learned from Charlie Munger About The Berkshire System
9.19.2015 – A Dozen Things I’ve Learned from Charlie Munger about Mistakes
9.5.2015 – A Dozen Things I’ve Learned from Charlie Munger about Risk
8.29.2015 – A Dozen Things I’ve Learned from Charlie Munger About Benjamin Graham’s Value Investing System
8.22.2015 – A Dozen Things I’ve Learned from Charlie Munger about Making Rational Decisions