Charlie Munger: The Complete Investor (Columbia Business School Publishing)

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How did humans come to dominate other animal species? And how does our evolutionary heritage affect the way we live? In The Third Chimpanzee, Jared Diamond explores several human behaviors and how they relate to our animal origins. Living Within Limits Warren Buffett has called Munger "the abominable no-man" because of his tendency to reject investment opportunities he deemed mediocre. Munger would patiently sit on tens of millions of dollars for months or years, waiting for the right opportunity to come along. "It takes character," Munger notes,"to sit there with all that cash and do nothing. I didn't get to where I am by going after mediocre opportunities." Let me use a little inversion now. What will really fail in life? What do we want to avoid? Some answers are easy. For example, sloth and unreliability will fail.” 429 Another thing to cope with is that life is very likely to provide terrible blows, unfair blows. Some people recover, and others don’t. And there I think the attitude of Epictetus helps guide one to the right reaction. He thought that every mischance in life, however bad, created and opportunity to behave well. He believed every mischance provided an opportunity to learn something useful. And ones duty was not to become immersed in self-pity, but to utilize each terrible blow in a constructive fashion.” 437 What is the meaning of life? This book takes a look at the work and beliefs of three leading American scientists: Edward Fredkin, Edward O. Wilson and Kenneth Boulding.

This book is a collection of Munger's and Buffet's quotes (probably even citing Buffet more often than Munger), which the author uses to explain their life philosophy and the principles of value investing. Must have a keen interest to figure out the reasons behind what is happening. If you can maintain this mentality for a long time, Your ability to pay attention to reality will gradually improve. If you don’t have this mentality, So even if you have a high IQ, Also doomed to fail. 2.5 Patience The definitive biography of an industrial genius, philanthropist, and enigma. At the meeting in May of this year, Munger also mentioned the Mellon Brothers as people to study.Even though Munger was influencing Buffett’s investment decision early on, he continued to manage his own partnership until the late 70s. His style at the time was to seek out arbitrage opportunities and look for cigar butts. All of the books listed below are organized by their date of first publication. The Blind Watchmaker

Charlie Munger, value investor, lawyer, philanthropist, Vice-Chairman of Berkshire Hathaway Corporation and Warren Buffett’s right-hand man. He is also chairman of the Daily Journal Corporation and a director of Costco Wholesale Corporation. Charlie Munger: An Intellectual Who Found Success in Investing - GuruFocus.com". www.gurufocus.com . Retrieved 2019-02-16.

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Investment Practices of Leading Charitable Foundations", Foundation Financial Officers Group, October 14, 1998 This “latticework” provides the foundation on which the wisdom you gain from reading can sit, and allows you to draw knowledge from multiple fields to better understand the world. The Years of Lyndon Johnson: The Path to Power by Robert Caro (1982). Munger allegedly recommended this book at the 2004 Wesco annual meeting.

If you want to get wisdom, you need to sit down and read a book quietly. This is the source of wisdom. Recommended Reading: What sets high achievers apart from everyone else? According to Malcolm Gladwell’s Outliers, we should pay less attention to what successful people are like, and more to the environmental and cultural influences on their lives. Yes! Learn when a technological change benefits you and when it doesn't. “There are all kinds of wonderful inventions that give you as owners nothing except the opportunity to spend a lot more money on business that’s still lousy. Often, all the savings from a new technology will flow through to consumers because of industry dynamics”At the end of every book I read, I like to do a little exercise that tries to summarize the book in three sentences. If the book was really good, I would struggle greatly as I fight to decide what concepts merit mention in the allotted three sentences. If it was not, it would be easy to write. With this book I can say it was quite a struggle. There is just so much in here worth internalizing.