The Intrinsic Value Podcast - The Investor’s Podcast Network

MI361: Poor Charlie's Almanack w/ Shawn O'Malley

Jul 22, 2024
Guest
Shawn O'Malley
Chief Editor of We Study Markets, Shawn O'Malley, discusses key takeaways from Charlie Munger's wisdom in 'Poor Charlie's Almanack.' Topics include Ben Franklin's influence on Munger, traits that made him a great investor, importance of multidisciplinary thinking, elementary worldly wisdom, psychology of human misjudgment, and febezzlement.
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ANECDOTE

Ben Franklin's Lasting Influence

  • Charlie Munger was deeply inspired by Ben Franklin's multidisciplinary legacy and self-taught approach.
  • He admired Franklin's Poor Richard's Almanac and saw him as a mentor across time through biographies.
ANECDOTE

The Buffett-Munger Origin Story

  • Charlie and Warren Buffett first knew each other as kids in Warren's grandfather's grocery store.
  • They reconnected at a dinner party, instantly clicking over obscure stock picks and later collaborated at Berkshire Hathaway.
INSIGHT

Munger's Intelligence and Discipline

  • Munger's key traits: patience, discipline, and vast mental models across disciplines.
  • He analyzed deals faster than anyone by mentally checking for weaknesses in about 60 seconds.
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