From the library
Charlie Munger, 2005
In one paragraph
A collection of speeches and wisdom from Charlie Munger, Warren Buffett's longtime business partner and vice chairman of Berkshire Hathaway. Covers mental models, decision-making, investing principles, and life wisdom from one of the most respected investors and thinkers in business.
Also tagged
Where this sits in the operating system
Mental Models & Decision Frameworks
Mental Models & Decision Frameworks
Mental Models & Decision Frameworks
Mental Models & Decision Frameworks
Key insights
A latticework of models from many disciplines, because a person with one model will force every problem into it.
Invert. Munger's most-used move is asking what would guarantee failure and then avoiding that.
The psychology of human misjudgement speech is the core of the book and worth more than the rest combined.
Recognise it early
The failure and the correction sit side by side deliberately. Read the left column asking whether any of it is already true of you.
Using single-discipline thinking for complex problems
Trying to be brilliant instead of avoiding stupidity
Operating outside circle of competence without acknowledging it
Seeking quick results instead of patient value building
Ignoring psychological biases in decision-making
The same idea, argued differently
Nassim Nicholas Taleb
David R. York, Andrew L. Howell
Adam Smith
Shane Parrish
The full breakdown
Before you close this
Naming the specific moment you will act roughly doubles the odds you do.
Reference
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