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Poor Charlie's Almanack

Charles T. Munger

Economics & FinancePsychologySystems & Complexity
Publish date
2005
Publisher
Donning Co. Publishers
Description
From the legendary vice-chairman of Berkshire Hathaway, lessons in investment strategy, philanthropy, and living a rational and ethical life. “Spend each day trying to be a little wiser than you were when you woke up,” Charles T. Munger advises in Poor Charlie’s Almanack. Originally published in 2005, this compendium of eleven talks delivered by the legendary Berkshire Hathaway vice-chairman between 1986 and 2007 has become a touchstone for a generation of investors and entrepreneurs seeking to absorb the enduring wit and wisdom of one of the great minds of the 20th and 21st centuries. Edited by Peter D. Kaufman, chairman and CEO of Glenair and longtime friend of Charlie Munger—whom he calls “this generation’s answer to Benjamin Franklin”—this abridged Stripe Press edition of Poor Charlie’s Almanack features a brand-new foreword by Stripe cofounder John Collison. Poor Charlie’s Almanack draws on Munger’s encyclopedic knowledge of business, finance, history, philosophy, physics, and ethics—and more besides—to introduce the latticework of mental models that underpin his rational and rigorous approach to life, learning, and decision-making. Delivered with Munger’s characteristic sharp wit and rhetorical flair, it is an essential volume for any reader seeking to go to bed a little wiser than when they woke up.
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Books cited in Poor Charlie's Almanack

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  1. The Autobiography of Benjamin Franklin

    Benjamin Franklin

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    Franklin serves as Munger's foundational role model for polymathic learning, practical wisdom, and personal ethics.

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  2. Guns, Germs, and Steel

    Jared Diamond

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    Cited by Munger as a quintessential demonstration of using multidisciplinary mental models to understand human history.

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  3. Living Within Limits: Ecology, Economics, and Population Taboos

    Garrett Hardin

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    Munger draws on Hardin's multidisciplinary insights regarding ecological limits, human psychology, and systemic trade-offs.

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  4. Influence: Science and Practice

    Robert B. Cialdini

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    Munger heavily relies on Cialdini's principles of persuasion to frame his psychology of human misjudgment.

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  5. The Selfish Gene

    Richard Dawkins

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    Referenced to explain evolutionary psychology and the biological roots of cooperative and competitive behaviors.

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  6. Models of My Life

    Herbert A. Simon

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    Munger points to Simon's concept of bounded rationality as a key multidisciplinary decision-making model.

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  7. The Wealth of Nations

    Adam Smith

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    Cited to discuss economic incentives, free-market dynamics, and the advantages of the division of labor.

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  8. Deep Simplicity: Bringing Order to Chaos and Complexity

    John Gribbin

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    Munger frequently praises this work for explaining how simple rules generate complex emergent behavior.

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  9. Judgment in Managerial Decision Making

    Max H. Bazerman

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    Referenced for its empirical treatment of cognitive biases impacting business executives and organizational outcomes.

    Medium relevanceExplore

  10. Only the Paranoid Survive

    Andrew S. Grove

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    Cited for its tactical concepts regarding strategic inflection points and surviving massive competitive disruptions.

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  11. Titan: The Life of John D. Rockefeller, Sr.

    Ron Chernow

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    Recommended by Munger for its historical insights into industrial scale, monopoly power, and business discipline.

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  12. Master of the Senate

    Robert A. Caro

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    Recommended by Munger as a profound study of political power, ambition, and psychological manipulation.

    Medium relevanceExplore

There may be more citations. We show up to 12 per book to keep the list manageable.

Recommendations

  • Seeking Wisdom: From Darwin to Munger

    Peter Bevelin

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    Synthesizes Munger's multidisciplinary mental models, evolutionary biology, and decision-making frameworks.

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  • Thinking, Fast and Slow

    Daniel Kahneman

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    Explores cognitive heuristics and systemic biases that align closely with Munger's psychology of human misjudgment.

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    Explores probabilistic thinking, epistemic humility, and the role of luck in investing and life.

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    Complements Munger's mental models with the core investment principles practiced alongside Warren Buffett.

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  • Principles: Life and Work

    Ray Dalio

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    Advocates systematic decision-making, radical truthfulness, and mental model application in business and life.

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    Philip E. Tetlock

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    Details probabilistic forecasting and multidisciplinary approaches essential for sound judgment under uncertainty.

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