decisions
Charlie Munger’s ‘Man with the Hammer’ Warning: 7 Ways This Thinking Error Ruins Smart People’s Decisions
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 […]
The 10 worst decisions you can make in your life, according to Warren Buffett
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 […]
Charlie Munger: 25 Psychological Mistakes That Cause Smart People to Make Bad Decisions
Charlie Munger has spent decades studying why intelligent people make terrible decisions. His conclusion was humbling: The human brain is full of shortcuts that once made survival easier but now cause systematic errors. In his historic speech at Harvard in 1995, later developed in Poor Charlie’s AlmanacMunger identified 25 psychological tendencies that quietly shake even […]
Charlie Munger’s Discipline Formulas: Why Smart People Still Make Stupid Money Decisions
Intelligence is supposed to protect people from bad decisions. This is one of the most dangerous assumptions in personal finance. Charlie Munger, former vice chairman of Berkshire Hathaway, has spent decades studying why brilliant people consistently destroy their own ability to create wealth. His conclusion was uncomfortable. Intelligence without discipline creates a more sophisticated version […]
Your 10 most important wealth construction decisions that make all the difference
Building wealth is not lucky with investments or inheritance. The real financial success comes from intelligent and coherent decision -making that make up substantial richness over time. While many focus on finding the choice of perfect stock, your financial future depends more on the fundamental choices made throughout your life. Your decisions in their twenties, […]