Poor Charlies Almanack

updated 21 Feb 2023

"Poor Charlie's Almanack" is a book by Charles T. Munger, the Vice Chairman of Berkshire Hathaway and long-time business partner of Warren Buffett. The book is a collection of speeches and writings by Munger, and provides valuable insight into his investment philosophy and decision-making process.

The book covers a wide range of topics, including investing, decision-making, and the psychology of human behavior. Munger is known for his wisdom and wit, and the book is filled with his observations on life and business.

One of the key themes of the book is the importance of having a broad and multidisciplinary approach to decision-making. Munger emphasizes the importance of having a diverse set of mental models and perspectives, and argues that the most successful people are those who are able to draw on a wide range of disciplines and fields of knowledge.

The book also provides valuable insight into the principles of value investing, and how to identify undervalued companies. Munger stresses the importance of thorough research and due diligence when making investment decisions to stay within your circle of competence and encourages investors to focus on the intrinsic value of a company, rather than its stock price.

Additionally, the book also provides valuable insight into the principles of decision-making, and how to think critically and avoid common cognitive biases that can lead to poor decision-making.

Overall, "Poor Charlie's Almanack" is considered a valuable resource for investors and business people, it provides valuable insight into the investment philosophy and decision-making process of Charles T. Munger, one of the most respected and successful investors of all time, and it also provides a glimpse into the inner workings of Berkshire Hathaway, one of the most successful and admired companies in the world.

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Poor Charlie's Almanac Summary and Review