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

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Behind Berkshire Hathaway, one of the largest companies in the world by market value, there is the greatest investment duo: Warren Buffett and his ‘silent’ right hand, Charlie Munger. They’ve been friends and business partners for 60 years. Together they run the Omaha, Nebraska-based holding company, that works as an “umbrella” for other smaller companies and is publicly traded. Den of Thieves by James B. Stewart (1992). Munger allegedly recommended this book at Berkshire’s 1992 annual meeting.

I had no idea how much I would love this book. It's a monster - huge, unwieldily to hold and read, but a truly valuable and insightful book. A Universe From Nothing: Why There Is Something Rather than Nothing by Lawrence M. Krauss (2012). Munger recommended this book at a Daily Journal Corporation meeting on Feb. 6th, 2013 ( source). Munger is vice chairman of Berkshire Hathaway’s board of directors, serving as Warren Buffett’s right-hand man. Charlie Munger, Berkshire Hathaway's visionary vice chairman and Warren Buffett's indispensable financial partner, has outperformed market indexes again and again, and he believes any investor can do the same. His notion of "elementary, worldly wisdom"—a set of interdisciplinary mental models involving economics, business, psychology, ethics, and management—allows him to keep his emotions out of his investments and avoid the common pitfalls of bad judgment. If I were a two-dimensional creature, I don’t understand how three-dimensional creatures see the world, One more subject will give you another measure. “Three-body”. It talked about looking at 3D from 4D, It’s like a divided piece of paper is mapped in a mirror of infinite reflection.

Books recommended by Charlie Munger:

From humble beginnings, Charlie Munger has become one of the financial world’s most recognisable figures over past five decades. And it all started on January 1, 1924 when Charles Thomas Munger was born in Omaha, Nebraska.

Hagstrom notes that this investing strategy – called focus investing – relies on the underlying business’s financials. So while you don’t have to be a financial whiz to leverage it, you may want to brush up on your foundational knowledge with our “best investing books” recommendation list. How the Scots Invented the Modern World We tend, as human beings, to be rather narrow and rigid in our decision making - particularly in business. When we look at a business only through the books they keep, that is from only a financial perspective, we might miss seeing potential pitfalls of the business's management, or the potential of their research, or the unique market that they might be creating. He also writes about common pitfalls in lazy thinking and the benefits of disciplined analysis. That kind of decision-making skill can serve every area of our lives. Munger’s speech at UC Santa Barbara: “Academic Economics: Strengths and Faults After Considering Interdisciplinary Needs” Charlie Munger quit the money management business during 1978 and moved to join forces with Buffett full-time, by becoming Berkshire Hathaway Inc.’s vice chairman. Charlie Munger: Investment Philosophy

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A Matter of Degrees: What Temperature Reveals about the Past and Future of Our Species, Planet, and Universe by Gino Segre

Charlie is also a philanthropist and frequently donates millions of dollars to educational and research institutions. Damn Right: Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger by Januaret Lowe (2003) Conversely, if a business earns 18% on capital over 20 or 30 years, even if you pay an expensive looking price, you’ll end up with a fine result. He is also a fan of biography books, he said, reading a biography is to make friends with the “dead great men”, but if you do become friends with the dead great men in your life, then you will live a better life and get better This is much better than just talking about some great principles. Of this book Munger said: “(The) best work of science exposition and history that I’ve read in many years!”

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He keeps returning to these themes, which is fair enough, it's mostly a compilation of his speeches, not his fault someone decided to put these together into a book, but why would the editor of the book assemble a bunch of speeches that are more or less redundant? 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. Charlie Munger, Berkshire Hathaway's visionary vice chairman and Warren Buffett's indispensable financial partner, has outperformed market indexes again and again, and he believes any investor can do the same. His notion of "elementary, worldly wisdom"―a set of interdisciplinary mental models involving economics, business, psychology, ethics, and management―allows him to keep his emotions out of his investments and avoid the common pitfalls of bad judgment. On derivatives: “The system is almost insanely irresponsible.” “I’ll be amazed if we don’t have some kind of significant [derivatives-related} blowup in the next five to ten years.”

In Ice Age: How a Change of Climate Made Us Human, John and Mary Gribbin detail ice ages, interglacial periods, magnetic pole flips and similar events. They also show how an ice age caused us to evolve from our ape ancestors into the humans we are today. A Matter of Degrees The Outsiders: Eight Unconventional CEOs and Their Radically Rational Blueprint for Success by William Thorndike (2012). This recommendation is unverified, though the following quote is widely attributed to Munger: “A book that details the extraordinary success of CEOs who took a radically different approach to corporate management.” In Darwin’s Blind Spot: Evolution Beyond Natural Selection, Frank Ryan argues that Darwin’s theory of natural selection ignores one critical component that helps explain biodiversity: symbiosis, a mutually beneficial relationships between two organisms living in close proximity. Symbiosis is everywhere in the wild, and may even help push evolution along. Seeking Wisdom The iron rule of communication from Carl (C.F.) Braun, who built over 250 petrochemical plants: If you're issuing a directive, you must specify Who is going to do What, When, Where and most importantly Why. Apparently not including the Why was a fireable offence. I think we can all agree that when the "W The Warren Buffett Portfolio: Mastering the Power of the Focus Investment Strategy by Robert G. HagstromA few major opportunities, clearly recognizable as such, will usually come to one who continuously searches and waits, with a curious mind that loves diagnosis involving multiple variables. He contributed for the renovation of Green Library after wide-ranging harm by the Loma Prieta Earthquake. We will continue researching and updating this list if and when we’re able to verify this information. In the late 1990’s/early 2000’s Charlie Munger’s quality over value slant started to really shine through in both his and Warren’s writings. For example, in Charlie’s speech “ A Lesson on Elementary, Worldly Wisdom As It Relates to Investment Management & Business.” given in 1995 he stated that: