ree Health Assets Anybody Can Use
The late Charlie Munger spent six decades as a partner of Warren Buffett at Berkshire Hathaway. He built much of his own fortune before the two men crossed paths. Ask him how he did it, and he won’t hand you a list of clever tricks. He will tell you to stop thinking forward and start […]
Benjamin Graham invented Mr. Market to explain why stock prices fluctuate much more than the companies behind them. Warren Buffett took his teacher’s idea and continued to use it, letter after letter to shareholders, decade after decade, at Berkshire Hathaway. Imagine a business partner who shows up at your door every day. Some mornings he […]
The late Charlie Munger liked to quote an old phrase about tools and problems. In his 1995 Harvard speech on human error of judgment, he put it this way: “To the man with the hammer, every problem looks like a nail.” He wasn’t describing stupidity. He was describing something more dangerous, the kind of narrow […]
Warren Buffett has published a letter to shareholders almost every year since 1965, and the 1981 edition hides one of his most brutal lessons about risk. He called it the Noah Principle. The idea takes minutes to understand and a lifetime to put into practice. You get no credit for recognizing the danger. The merit […]
The late Charlie Munger, longtime vice chairman of Berkshire Hathaway, gave his famous speech titled The Psychology of Human Misjudgment at Harvard in 1995. He later expanded it in Poor Charlie’s Almanack into a catalog of 25 cognitive tendencies that cause intelligent people to make terrible decisions. Munger has spent decades studying why brilliant doctors, […]
The late Charlie Munger spent more than fifty years explaining how he built one of the greatest investment fortunes of the last century, and his answers kept coming back to habits of mind. He gave them credit speech after speech, until his death in 2023. Five of these habits recur in his responses to shareholder […]
Warren Buffett built one of the greatest fortunes in history, but ask him directly about it and he rarely talks about stock picking. He talks about mistakes. Over seven decades of letters to shareholders, campus discussions and interviews, he returned to the same mistakes, ones he saw ruin people who were smarter than him. Below […]
The late Charlie Munger built one of the greatest fortunes in American business history by telling people things they didn’t want to hear. He had no interest in receiving comfortable advice. He preferred the one that stings a little on first reading, stays with you all night, and then quietly reorganizes the way you approach […]
The late Charlie Munger spent decades as an associate of Warren Buffett at Berkshire Hathaway. He built his own fortune using an almost retrospective method. He focused less on what to chase and more on what to avoid. He called this the principle of inversion. Figure out how people fail, then avoid those same mistakes. […]
The late Charlie Munger spent decades studying how the best thinkers distinguish themselves from others, without focusing solely on raw intelligence. The way a mind filters out noise and arrives at judgment. The traits below come directly from his own words and way of life. Here are ten signs of a truly high-level thinker, in […]
