ree Health Assets Anybody Can Use
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 […]
Inflation is described as a problem that affects everyone equally. This is not true. Inflation shifts purchasing power from one group to another, and this direction almost always favors people who already own assets over those who work for wages. Once you see how the transfer works, rising prices stop looking like bad luck. They […]
Building a better life isn’t just about a bigger salary. How you spend your time matters. How you invest your limited energy matters. The same goes for the slow, steady momentum that comes to a halt the moment the wrong person pushes you off track from your goals. You don’t always need to completely interrupt […]
Warren Buffett built one of the greatest fortunes in history on a foundation of discipline that most people cannot maintain. He has repeatedly implied that intelligence is common, while discipline is rare. “Investing is not a game in which the guy with an IQ of 160 beats the guy with an IQ of 130. Once […]
