Originally published in 2005, Poor Charlie's Almanack is a collection of eleven talks delivered by Charles T. Munger between 1986 and 2007. Edited by Peter D. Kaufman, this book draws on Munger's extensive knowledge across various fields to provide a framework for rational and rigorous approaches to life, learning, and decision-making. It is renowned for its sharp wit and rhetorical flair, making it an essential read for investors, entrepreneurs, and anyone seeking to enhance their wisdom and critical thinking skills.
In Richer, Wiser, Happier, William Green draws on interviews conducted over twenty-five years with many of the world’s greatest investors. The book highlights that the most successful investors are mavericks and iconoclasts who question conventional wisdom and think rationally, rigorously, and objectively. They maximize their odds of long-term success in markets and life by drawing insights from diverse fields such as neuroscience, economic history, psychology, philosophy, and more. Green explains how these investors can teach us not only how to become rich but also how to improve our thinking, decision-making, risk assessment, and resilience, and how to turn uncertainty to our advantage.
In this special tribute, William Green celebrates the life & legacy of investing legend Charlie Munger. He shares personal anecdotes about his own interactions with Charlie & showcases an array of rich insights about Charlie from four famed investors: Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis. They share some of Charlie’s most valuable lessons about investing, business, & life while also conveying what made him such an inspiring & idiosyncratic character.
IN THIS EPISODE, YOU’LL LEARN:
00:00 - Intro
03:18 - What it was like for William Green to interview Charlie Munger.
10:07 - What William learned from Charlie about trying to be less stupid.
37:14 - How Charlie’s friendship changed Mohnish Pabrai’s life.
4:48 - What was distinctive about Charlie’s reading habits.
55:59 - How his hard, brusque exterior concealed a soft, sensitive interior.
1:04:50 - Why it’s a huge competitive advantage to be trustworthy.
1:22:50 - How Warren Buffett & Charlie Munger surpassed General Electric.
1:33:36 - Why it’s invaluable to have a partner who challenges your beliefs.
1:37:17 - What Charlie taught Chris Davis about how to learn from our mistakes.
1:49:17 - How to succeed by structuring your life to avoid your weaknesses.
1:55:30 - How Charlie was different from Warren.
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
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