Poor Charlie's Almanack
Charlie Munger's speeches and essays on mental models, misjudgment and how to think
Charlie Munger's talks and essays, collected by Peter Kaufman in 2005 and reissued in a compact edition by Stripe Press in 2023. The centerpiece is The Psychology of Human Misjudgment, Munger's catalog of the two dozen or so biases that push people into bad decisions: incentives, social proof, consistency, the urge to grab the first plausible explanation and stop thinking. Around it sit his commencement speeches, his case for a latticework of models borrowed from many disciplines rather than one, and a lot of jokes at the expense of academics and fund managers. It is read less as an investing manual than as a guide to thinking clearly, and its ideas have spread well beyond finance. The original hardback is heavy and expensive; the 2023 edition fixed both.
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- Warren BuffettRecommends
Investor · Berkshire Hathaway chairman
In the 2010 letter he plugged his partner's collected talks. It came with a joke. Shareholders should buy a copy and carry it around, he wrote, because it would make them look urbane and erudite.
Source: Berkshire Hathaway: 2010 Chairman's Letter
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