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 'The Psychology of Money,' Morgan Housel delves into the psychological and emotional aspects of financial decisions. The book consists of 19 short stories that illustrate how personal history, worldview, emotions, and biases influence financial outcomes. Housel emphasizes the importance of behavior over knowledge in managing money, highlighting the power of compounding, the dangers of greed, and the pursuit of happiness beyond mere wealth accumulation. He advocates for a frugal lifestyle, long-term perspective, and a balanced approach to investing, stressing that financial success is more about mindset and discipline than about technical financial knowledge[2][3][4].
This book provides an in-depth examination of Warren Buffett's investment strategies, highlighting his approach to valuing businesses, his criteria for selecting investments, and the key principles that have contributed to his remarkable success. It emphasizes Buffett's focus on understanding the business rather than speculating on stock prices, and it outlines his business, management, and financial tenets for evaluating potential investments[2][4][5].
In 'Zero to One,' Peter Thiel argues that true innovation comes from creating something entirely new, going from 'zero to one,' rather than incrementally improving existing ideas. He emphasizes the importance of vertical progress through technology and the benefits of monopoly in driving innovation. Thiel also discusses the need for long-term planning, the importance of finding the right co-founders, and the power law in startup success. The book challenges conventional wisdom and encourages readers to think critically and aim big to build the future[2][3][5].
This biography, meticulously researched over seven years with complete access to the Disney archives, provides a detailed and nuanced portrait of Walt Disney. It covers his early life, his transformation of animation into an art form with iconic characters like Mickey Mouse and films such as Snow White, Fantasia, and Bambi, and his expansion into television, theme parks, music, book publishing, and merchandise. The book also delves into Disney's personal life, revealing a complex figure with both remarkable achievements and hidden struggles, including financial problems, a nervous breakdown, and personal controversies. Gabler's work is a masterful exploration of both the work and the man, highlighting Disney's impact on American culture and the power of his imagination.
In 'The 48 Laws of Power', Robert Greene and Joost Elffers synthesize three thousand years of the history of power into 48 laws. These laws are derived from the philosophies of Machiavelli, Sun Tzu, and Carl Von Clausewitz, as well as the lives of influential figures such as Henry Kissinger and P.T. Barnum. The book provides tactics, concepts, and lessons on how to achieve and maintain power, emphasizing prudence, confidence, and self-preservation. Each law is illustrated with historical examples and is designed to help readers understand and navigate the dynamics of power in various aspects of life, including work, social hierarchies, and politics.
Wildcatters tells the story of three generations of Texas oilmen, from pioneers like Clint Murchison and Monty Moncrief to their grandsons who navigated the challenges of OPEC and international oil exploration. The book captures the spirit of risk-taking and entrepreneurship that defined the Texas oil industry during its boom years.
In *How to Make a Few Billion Dollars*, Brad Jacobs shares his mindset and strategies that have driven his remarkable success in corporate America. With over four decades of experience as a CEO and serial entrepreneur, Jacobs distills his business brilliance into a tactical road map. The book covers topics such as rearranging your mindset to achieve enormous goals, turning a healthy fear of failure to your advantage, achieving high-quality M&A without imploding, building an outrageously talented team, catalyzing electric meetings, and transforming a company into a superorganism that outcompetes others. Jacobs emphasizes the importance of humility, compassion, and accountability while pursuing the American Dream.
In *Dior by Dior*, Christian Dior shares his journey from childhood in Granville to becoming a celebrated fashion designer. The book provides a detailed look at his entry into the fashion world, his inspirations, and the creation of his iconic 'New Look' collection. It offers a unique glimpse into the workings of a great fashion house and the private life of its founder.
In this book, Ed Catmull shares insights on how to build and maintain a creative culture within an organization. Drawing from his experiences at Pixar, Catmull discusses the importance of open communication, risk-taking, and protecting the creative process. The book includes candid discussions, anecdotes about Pixar's film development, and lessons on managing innovation and creativity. It emphasizes the need for a nurturing work environment and the importance of storytelling in business.
This book is a large, visually stunning volume that explores Ralph Lauren's life, career, and design philosophy through numerous photographs. It includes insights into his personal life and professional achievements, showcasing his influence on American fashion and design.
This book tells the story of James Dyson's life, highlighting his numerous inventions and the challenges he faced in bringing them to market. It covers his early life, his education, and his development of various products, including the ballbarrow and the Dual Cyclone vacuum cleaner. The book emphasizes the importance of education, mentorship, self-reliance, and the critical role of engineers and scientists in society. It also reflects on Dyson's experiences with business partners, the British innovation environment, and his perseverance in the face of numerous obstacles[1][3][4].
In 'Total Recall,' Arnold Schwarzenegger shares his life story in his signature larger-than-life style. The book chronicles his early life in Austria, his rise to fame as a bodybuilding champion, his successful career in Hollywood, and his tenure as the Governor of California. It highlights his immense ambition, tenacity, and business acumen, making him one of the greatest immigrant success stories of our time.
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In 'Am I Being Too Subtle?', Sam Zell shares his story from his roots as the child of Jewish immigrants to his current status as a leading real estate mogul. The book blends autobiography with business insights, highlighting Zell's ability to see opportunities others miss. He discusses his approach to investing, his strategy of targeting troubled assets, and the importance of independent thinking and risk assessment. The book also includes personal anecdotes and lessons learned throughout his career, making it a guide for the next generation of entrepreneurs and investors.
This book delves into the history and evolution of science fiction, featuring interviews with prominent figures like Guillermo del Toro, George Lucas, and Steven Spielberg. It includes essays and rare concept art, offering a deep dive into the genre's impact and themes.
This article provides a detailed look at Larry Gagosian's career, from his early days as a dealer to his current status as a leading figure in the art world. It examines his strategies, controversies, and the profound impact he has had on the art market. The piece is part of The New Yorker's coverage of influential figures in the art world.
What I learned from reading The Days of Duveen by S.N. Behrman.
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(0:01) Duveen noticed that Europe had plenty of art and America had plenty of money, and his entire astonishing career was the product of that simple observation.
(2:30) The great American millionaires of the Duveen Era were slow-speaking and slow-thinking, cautious, secretive, and maddeningly deliberate.
(3:30) How Larry Gagosian Reshaped The Art World by Patrick Radden Keefe. (Founders #325)
(4:30) Invest Like The Best #342 Will England: A Primer on Multi-Strategy Hedge Funds
(6:00) There is an old two-part rule that often works wonders in business, science, and elsewhere:
1. Take a simple, basic idea and
2. Take it very seriously. — the NEW Poor Charlie's Almanack: The Wit and Wisdom of Charlie Munger. (Founders #329)
(10:00) The art dealer Joseph Duveen insisted on making the paintings he sold as scarce and rare as possible. To keep their prices elevated and their status high, he bought up whole collections and stored them in his basement. The paintings that he sold became more than just paintings—they were fetish objects, their value increased by their rarity. — The 48 Laws of Power by Robert Greene.
(14:00) Duveen had enormous respect for the prices he set on the objects he bought and sold. Often his clients tried, in various ways, to maneuver him into a position where he might relax his high standards, but he nearly always managed to keep them.
(16:00) Wildcatters: A Story of Texans, Oil, and Money by Sally Helgesen. (Founders #338)
(18:00) You don’t need many customers if the few customers you do have are the riches people in the world.
(22:00) His enthusiasm was irrepressible.
(26:00) Duveen felt that his educational mission was two fold —to teach millionaire American collectors what the great works of art were, and to teach them that they could get those works of art only through him.
(27:00) When you pay high for the priceless, you're getting it cheap.
(31:00) He was interested in practically nothing except his business.
(31:00) Certain men are endowed with the faculty of concentrating on their own affairs to the exclusion of what's going on elsewhere in the cosmos. Duveen was that kind of man.
(32:00) Monopoly was his method.
(38:00) Duveen would pay the servants of staff that worked in the homes of his clients. This was the result: They developed a feeling that it was only fair to transmit to Duveen any information that might interest him.
(41:00) The art dealer Joseph Duveen was once confronted with a terrible problem.
The millionaires who had paid so dearly for Duveen’s paintings were running out of wall space, and with inheritance taxes getting ever higher, it seemed unlikely that they would keep buying.
The solution was the National Gallery of Art in Washington, D.C., which Duveen helped create in 1937 by getting Andrew Mellon to donate his collection to it. The National Gallery was the perfect front for Duveen.
In one gesture, his clients avoided taxes, cleared wall space for new purchases, and reduced the number of paintings on the market, maintaining the upward pressure on their prices. All this while the donors created the appearance of being public benefactors.
— The 48 Laws of Power by Robert Greene.
(48:00) His clients felt better when they paid a lot. It gave them the assurance of acquiring rarity.
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“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth
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“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth
Be like Gareth. Buy a book: All the books featured on Founders Podcast
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