Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger, Expanded Third Edition

Poor Charlie's Almanac has been on my reading list for the last couple of years. It took me a six-month sabbatical (and then some) to get through it. This is a testament to the information, lessons, references and stories from Charlie Munger. Fundamentally, this book is an encyclopedia of information on what it takes to be successful and to achieve greatness in what it is you want to do in life; all from a very successful and extremely well read (and connected) 90-ish year old billionaire! Let's be clear, this is not a book that you can quickly skim through, but rather a book you spend quality time with every day; for a good couple of months. This way you're giving yourself the best change of retaining all of Charlie's tidbits of wisdom. One of the great things about this book is the plethora of quotes from successful entrepreneurs, historians, philosophers alike whose ideas and writings have survived the test of time. Suffice to say, this is one of those books I'm going to re-read, reference and quote for the rest of my life. Well worth a purchase! Three Key Takeaways from the book: 1. Charlie knows no wise people who didn't read all the time. It is more than just reading though, one has to grab ideas and do sensible things. Most people do not identify ideas, and if they do, they do not know what to do with them 2. Diversification in investing is something that Charlie doesn't believe in. His recommendation is to choose three good company stocks and invest accordingly. Interesting approach given most financial advisors typically recommend the opposite 3. Self-pity is always counter-productive, It's the wrong way to think. And when you avoid it you get a great advantage over everybody else or almost everybody else, because self-pity is a standard response. And you can train yourself out of it

My husband couldn’t put this down!!! As a lawyer, stock investor and admirer of both Buffett and Munger…. he thoroughly enjoyed all of the sage universal advice, quips, stories and lessons!! A great book for anyone who would enjoy humor mixed with many life lessons and advice!! Highly recommend!!

First of all, this is my first and last book review. I don't write these ever, and I will never write one again. However, seeing this gem had only 6 reviews and I felt this needed to be said. You can't afford to not read this. Think of it as a gift to humanity from a higher more intelligent species - Its something you don't want to go through life having missed. I spend about 16 hours a day researching financial markets/value investing. I have read over 50 books on related subjects - No book has influenced my thought process more that this one. It is simply amazing. You will not get the value from this book when you close the last page, but when you see the world relate in the ways Munger lays out for you. This is one of the greatest minds and business and he tells you his secrets. The last chapter on the psychology of human misjudgment will live on past Munger's days. It is his greatest work and is invaluable information. The way your brain fires and works will literally physically change over time from the things this book teaches you. Its a mind trainer - it teaches you how to look at problems. It is worth its weight in platinum. I don't care who you are. You need to buy this and pound his ideas in your head. You won't even think its that great as you read it and might even wonder why it is praised so much. Over time, you'll see things how Munger does and start to think like Munger does. Whatever field you are in, this book will help you to look and analyze problems and the world as a whole in a different more intelligent manner. Again, I cannot praise or recommend this book enough. When your done with it and look back years later, this odd review I just wrote will make crystal clear sense to you. Your welcome.

While reading through these talks I kept seeing Munger refer back to psychological factors and psychological checklists. He talked of his personal studies into psychology and how valuable it has been in his decision-making. And i grew frustrated because in all of the Munger book recommendation blog posts I found online, there was very little in the way of psychology. And then I got to the 11th (final) talk in this book and found why. Munger was so dissatisfied with psychology reference texts that in his final talk he basically wrote one of his own. And if you can only read one essay in this book this should be the one. Munger goes through a list of common thinking tendencies that in isolation or in conjunction are responsible for all kinds of errors of misjudgment. Each of these thought heuristics are results of evolution and in general can be useful, but they also can lead to errors and bad decisions. This is the kind of essay that it is worth to re-read prior to every big decision one faces, and I definitely intent to revisit!

Entregado a tiempo, el ejemplar que me ha llegado venía perfectamente empaquetado y totalmente nuevo. Ahora toca zambullirse en la sabiduría del tito Munger.

Wordly wisdom from Charlie Munger!

Forget trying to use this book as an investment manual, it is not. This is an eclectic gathering of thoughts, ideas & idioms that really highlight what living and thinking is like in life with integrity. The inclusion and acknowledgment to other thinkers and achievers is amazing and makes you realise the value of humility no matter your station in life. Thoroughly enjoyable.

Awesome book for behavioural psychology thanks Amazon

Interesting book