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. Brkb shareholder meeting, vice chairman charlie munger railed against executive. Here is an excerpt from the article, the art of stock picking by charles munger. Stunning books charlie munger recommends everyone to read. How many different things has wesco done since blue chip stamps. Stock investor makes selfdirected investing easy with investment recommendations from our investing experts. 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. Book suggestion from outstanding entrepreneurs, great politicians, people you admire. Billionaire charlie munger says living by this rule is key. 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 mungers 30 best zingers of all time wisdom condensed. Perhaps the most important rule in management is to get the incentives right. Poor charlies almanack, seeking wisdom, the most important thing, and a few lessons for invenstors and managers. 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. This is still the best talk ever given on the art of stock picking by charles munger. Ive tried to keep track of and read every recommendation he has made and ive yet to be disappointed. This is, of course, by choice since what the two men love most is investing. Apr 26, 2018 danielle town, author of invested, learned about the stock market from studying pros like charlie munger and warren buffett. When there are new books recommended by charlie munger i sit up and take notice.
Books by and about charlie munger invest like the best. Favobooks contains book recommendations of famous people. Feb 08, 2017 39 book recommendations from billionaire charlie munger that will make you smarter. The lessons that munger provides are timeless and its an absolute must read for all investors. This book offers a treasure trove of financial wisdom in the form of speeches and essays. 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. 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. Run, dont walk, to buy charlie mungers favorite stock. Charlie munger i always like it when someone attractive to me agrees with me, so i have fond memories of phil fisher.
As recently as the second quarter of 2012, berkshire hathaway. Im just curious to calculate how much a human would read if they read a fairly small amount per day for m. Charlie munger i have always imagined that paradise will be a kind of library. Jerry brown in the face of voting for crucial referendums that are on the ballot in. The children of charlie munger, warren buffets business partner, are duking it out with california gov. Read cnn s fast facts about charles charlie munger and learn about the righthand man and business partner of warren buffett. 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. 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. Danielle town explains charlie mungers 4 principles of.
Munger is known to read quite a lot of books on varying topics. Gates said, the book had a profound effect on the way i think about history and why certain societies advance faster than others. Charlies most basic guiding principles, his fundamental philosophy of life. 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. In this summary of poor charlies almanack, ive extracted the most important points. How many books has charlie munger read in his entire lifetime. In this discussion charlie first talks about common sense and how it is not common. Charlie munger the best way to get a good spouse is to deserve a good spouse. Danielle town explains charlie mungers 4 principles of investing. Charlie munger structured his business life in such a way that he acquired cashgenerating assets so that he could always have money coming. 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. 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. Danielle town, author of invested, learned about the stock market from studying pros like charlie munger and warren buffett. A dozen things charlie munger has said about reading 25iq. Poor charlies almanack by charlie munger book summary and. Munger has never stated how many books he has read.
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. Spend each day trying to be a little wiser than you were when you woke up. Charlie munger and the 2014 daily journal annual meeting. Charlie mungers 30 best zingers of all time the motley fool. 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. 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. In business, there is almost always someone else involved in whatever you are trying to do.
Warren buffett gives back most gains on byd forbes. Weve only bought two or three companies and made a few big stock purchases. Charlie argues that people respond most strongly to what they view as their incentive or disincentive. In my whole life, i have known no wise people over a broad subject matter area who didnt read all the time none, zero. Thanks a lot your the commonplace book post, it was probably one of the most influencial pieces ive read lately. Charlie munger if you tell the truth, you dont have to remember your lies. 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. In economics textbooks they teach you greshams law. Aug 07, 2018 when there are new books recommended by charlie munger i sit up and take notice.
Click here and here to see warren buffetts and charlie munger s book recommendations over the years. Poor charlie s almanack, edited by peter kaufman originally published in 2005. Housed inside youll find anything and everything you want or need to know about charlie munger and his approach to life and investment. A dozen things charlie munger has said about reading july 26, 2015. Joe kosters summary of charlie mungers investing principles checklist, according to poor charlies almanack. 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. 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. 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. 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.
As usual, his wisdom is notorious as he mentions how he applies multidisciplinarity, opportunity costs and several other factors to reach a discount rate. Charlie munger im right, and youre smart, and sooner or later youll see im right. This book is both monsterous and a complete pleasure to read. Munger is an entertaining, gorgeous and worthwhile coffee table book for finance philosophers and biography aficionados alike. Recommended reading list charlie munger munger is one of the best investors of our time you can see more on munger s resource page.
Jul 16, 2016 charlie munger summary july 16, 2016 april 11, 2019 niklas goeke personal finance 1sentencesummary. Jul 26, 2015 a dozen things charlie munger has said about reading july 26, 2015. Munger is also one of the main inspirations behind seeking wisdom. Heres a list of every book warren buffett has recommended. Negotiating agreement without giving in by roger fisher, faraday. Charlie mungers investing principles checklist gurufocus.
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