Poor Charlie’s Almanack: The Essential Wit and Wisdom of Charles T. Munger
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From the legendary vice-chairman of Berkshire Hathaway, lessons in investment strategy, philanthropy, and living a rational and ethical life. "A timeless classic that will change how you approach life. There is a billion-dollar education inside this book." —Shane Parrish , founder of Syrus Partners and Farnam Street "Spend each day trying to be a little wiser than you were when you woke up," Charles T. Munger advises in Poor Charlie’s Almanack . Originally published in 2005, this compendium of eleven talks delivered by the legendary Berkshire Hathaway vice-chairman between 1986 and 2007 has become a touchstone for a generation of investors and entrepreneurs seeking to absorb the enduring wit and wisdom of one of the great minds of the 20th and 21st centuries. Poor Charlie’s Almanack draws on Munger’s encyclopedic knowledge of business, finance, history, philosophy, physics, and ethics—and more besides—to introduce the latticework of mental models that underpin his rational and rigorous approach to life, learning, and decision-making. Delivered with Munger’s characteristic sharp wit and rhetorical flair, it is an essential volume for any reader seeking to go to bed a little wiser than when they woke up. Review: Interesting for Philosophical Reasons - This book is very tough to read because there are so many anecdotes and cross-references to multiple genres of literature and science. Charlie Munger has really sound advice. I can't help but think his speeches would have been really interesting to watch. I would give this a 4.5 but there is no way to give a half-star. Basically, his wisdom is you should try to learn as much as you can about as many different fields as possible. Too often schools and academia beat into you that you need to specialize in one niche. They make you think if you are an expert in one thing that is enough. That may be true for a job but its not true for stock market investing. You need to be patient and learn as much as you can about as many different topics as you can. You need to analyze yourself and see what kind of biases hold you back from growing and improving. You will grow wiser and with your wisdom, if you apply it right, you will also grow richer. This book is interesting because it gives perspective into the mind of one of the greatest financial gurus. Also, I think it is worth noting that this book often resales at close to the value of the purchase price of this book new. In my mind, this means a lot of people find value in the book and don't try to sell it after they get it. Review: An Interesting Story, With Lots Of Wisdom Included - Exposure to the casual wit and extensive wisdom of Charlie Munger primed me to grab the book and try to absorb a bit more. The wit doesn't translate as well to paper as a long life's worth of wisdom does. The book is structured with an opening section that shares a lot of the life background that prepared Charlie Munger for his future. Starting in post-depression Nebraska working in the Buffet store, then on to law school and much more, the story builds through the early association with Warren Buffet, and the broad learning paths through independent learning and a voracious appetite for knowledge. That appetite for knowledge is an enduring theme throughout the book and his life. Hw worked hard to impart that same love of broad learning and wisdom to family, friends, business associates and students along the way. The lessons and the delivery are both top tier. The rest of the book is a series of descriptions of lectures Charlie gave later in life primarily at various learning institutions. Primarily law and business schools it seems, but a couple others thrown in too. The common theme is to always be open to learnings from outside your focus discipline, and integrate all those outside learnings to build a broad base to continuously build on. I'm 20+ years Charlie's junior, and can see where the guidance he shares would have made my early career a bit smoother. That said, I think it would be great for people to read and learn from Charlie starting early, then re-read at life intervals that allow one's own life experiences and situations to benefit from regular course-corrections based on the ideas shared in the book. I know too many youngsters who have attention focus based on continuous screen movement and action; few may initially appreciate the pleasure of reading a good book like this. But a read in mid-teens, and again as major decision points arise, would help most people tremendously. Some of us have had the great fortune to have mentors along the way. Even if you already have that, adding another lesson or twelve from Charlie can only benefit. Yes, I highly recommend this book. It should almost be essential reading from those stepping up to and stepping through their lives and careers. It's that good.
| Best Sellers Rank | #8,272 in Books ( See Top 100 in Books ) #2 in Biographies of Business & Industrial Professionals #9 in Wealth Management (Books) #26 in Investing (Books) |
| Customer Reviews | 4.7 out of 5 stars 1,126 Reviews |
G**.
Interesting for Philosophical Reasons
This book is very tough to read because there are so many anecdotes and cross-references to multiple genres of literature and science. Charlie Munger has really sound advice. I can't help but think his speeches would have been really interesting to watch. I would give this a 4.5 but there is no way to give a half-star. Basically, his wisdom is you should try to learn as much as you can about as many different fields as possible. Too often schools and academia beat into you that you need to specialize in one niche. They make you think if you are an expert in one thing that is enough. That may be true for a job but its not true for stock market investing. You need to be patient and learn as much as you can about as many different topics as you can. You need to analyze yourself and see what kind of biases hold you back from growing and improving. You will grow wiser and with your wisdom, if you apply it right, you will also grow richer. This book is interesting because it gives perspective into the mind of one of the greatest financial gurus. Also, I think it is worth noting that this book often resales at close to the value of the purchase price of this book new. In my mind, this means a lot of people find value in the book and don't try to sell it after they get it.
B**N
An Interesting Story, With Lots Of Wisdom Included
Exposure to the casual wit and extensive wisdom of Charlie Munger primed me to grab the book and try to absorb a bit more. The wit doesn't translate as well to paper as a long life's worth of wisdom does. The book is structured with an opening section that shares a lot of the life background that prepared Charlie Munger for his future. Starting in post-depression Nebraska working in the Buffet store, then on to law school and much more, the story builds through the early association with Warren Buffet, and the broad learning paths through independent learning and a voracious appetite for knowledge. That appetite for knowledge is an enduring theme throughout the book and his life. Hw worked hard to impart that same love of broad learning and wisdom to family, friends, business associates and students along the way. The lessons and the delivery are both top tier. The rest of the book is a series of descriptions of lectures Charlie gave later in life primarily at various learning institutions. Primarily law and business schools it seems, but a couple others thrown in too. The common theme is to always be open to learnings from outside your focus discipline, and integrate all those outside learnings to build a broad base to continuously build on. I'm 20+ years Charlie's junior, and can see where the guidance he shares would have made my early career a bit smoother. That said, I think it would be great for people to read and learn from Charlie starting early, then re-read at life intervals that allow one's own life experiences and situations to benefit from regular course-corrections based on the ideas shared in the book. I know too many youngsters who have attention focus based on continuous screen movement and action; few may initially appreciate the pleasure of reading a good book like this. But a read in mid-teens, and again as major decision points arise, would help most people tremendously. Some of us have had the great fortune to have mentors along the way. Even if you already have that, adding another lesson or twelve from Charlie can only benefit. Yes, I highly recommend this book. It should almost be essential reading from those stepping up to and stepping through their lives and careers. It's that good.
E**Y
Pick it up!
I loved it and I'm going to take notes while re-reading. Best content was "How to be Miserable" & psychology of human misjudgment. Build quality was excellent too!
S**A
So much wisdom—wish I had read it sooner
This book is packed with insight. I wasn’t sure what to expect at first, but Poor Charlie’s Almanack turned out to be one of the most valuable reads I’ve picked up in a long time. Charlie Munger’s way of thinking is so refreshingly straightforward and smart. It really made me rethink how I approach decisions in everyday life. It’s full of great life lessons, funny stories, and real talk about business, investing, and just being a better thinker overall. It’s not a “quick” read, but it’s totally worth it. I found myself underlining a ton and going back to reread parts. If you’re curious, open-minded, and want to get better at thinking clearly (without the fluff), this one’s for you. Highly recommend!
R**R
The wisdom of Charlie munger
one of the smartest men, book was good but, i format was a little different than I expected
B**Y
Should have been titled, “How to Think.”
Who would have thought the most important lesson regarding the process of investing in order to obtain great wealth - was psychology. Not some technical trading topic, not some prospectus reading technique, not some other fancy gimmick or thing you haven’t heard about. It’s far more simple than that. And it’s about people. I feel we ALL should hold a tremendous amount of gratitude to Carlie Munger for leaving us with this. I consider him one of my business mentors.
K**T
Powerful Ideas
Great ideas from a very smart businessman.
A**R
Purchase
Great little book. A lot of old fashion wisdom
T**.
Great
Great
P**O
charlito!
Livro muito bom! Recomendo a leitura
N**.
Munger=spirazione
Libro molto affascinante e ricco di spunti. Per chi vuole iniziare a capire la logica del ragionamento di Munger. Attenzione in inglese
P**P
Excelente calidad
Buenisimo, recomendado 100% en cuanto al contenido. La calidad del libro es muy buena
P**Y
Everyone should at least read once
The book contains some useful advice on reducing cognitive biases before and when making important decisions, as well as Munger's own philosophy in what's a life worth living. A lot of the stuff in the first part of the book lays down the framework and skeleton in the motivation and know-how on making better decisions and that comes a lot from doing a lot of homework, which presumably many would not even have time and motivation to do. But that's exactly what differentiates ... like you have munger / Buffett and all the other investors ...
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