Money and Finance
- Charlie Munger On Wisdom Acquisition And Continuous Learning...
Via my typed notes from his 2007 USC Commencement Speech: Wisdom acquisition is a moral duty. It’s not something you do just to advance in life. As a corollary to that proposition which is very important, it means that you are hooked for lifetime...
- Love Mental Models? Study Threshold Concepts! - By Miguel Barbosa
Your must-read of the day: Link to: Love Mental Models? Study Threshold Concepts! I think that understanding how to learn about mental models remains (unexplored and unpopular). In other words, the journey that every aspiring renaissance thinker...
- Santangel’s Review: Charlie Munger Quotes
Link to: Quotes on Intelligent Investing – Charlie Munger Edition .................... A few I especially like: “You need a different checklist and different mental models for different companies. I can never make it easy by saying, ‘Here are three...
- Buffett's Best Man
IN CONTRAST TO THE showman-like Buffett, Munger shuns the spotlight. But he draws a smaller, more fanatical cult that seeks inspiration from his intellectual omnivorousness. "There are few people who consider acquiring knowledge their life's study...
- At 71, Physics Professor Is A Web Star
Walter H. G. Lewin, 71, a physics professor, has long had a cult following at M.I.T. And he has now emerged as an international Internet guru, thanks to the global classroom the institute created to spread knowledge through cyberspace.-Professor Lewin’s...
Money and Finance
Charlie Munger: The Importance of Multiple Mental Models
From Poor Charlie's Almanack, and what I think is the single most important idea I carry with me when it comes to going through life:
You must know the big ideas in the big disciplines and use them routinely--all of them, not just a few. Most people are trained in one model--economics, for example--and try to solve all problems in one way. You know the old saying: To the man with a hammer, the world looks like a nail. This is a dumb way of handling problems.You need a different checklist and different mental models for different companies. I can never make it easy by saying, "Here are three things." You have to derive it yourself to ingrain it in your head for the rest of your life.You can't learn those one hundred big ideas you really need the way many students do--where you learn 'em well enough to bang 'em back to the professor and get your grade, and then you empty them out as though you were emptying a bathtub so you can take in more water next time. If that's the way you learn the one hundred big models you're going to need, [you'll be] an "also ran" in the game of life. You have to learn the models so that they become part of your ever-used repertoire.By the way, there's no rule that you can't add another model or two even fairly late in life. In fact, I've clearly done that. I got most of the big ones quite early [however].The happier mental realm I recommend is one from which no one willingly returns. A return would be like cutting off one's hands.
- Charlie Munger On Wisdom Acquisition And Continuous Learning...
Via my typed notes from his 2007 USC Commencement Speech: Wisdom acquisition is a moral duty. It’s not something you do just to advance in life. As a corollary to that proposition which is very important, it means that you are hooked for lifetime...
- Love Mental Models? Study Threshold Concepts! - By Miguel Barbosa
Your must-read of the day: Link to: Love Mental Models? Study Threshold Concepts! I think that understanding how to learn about mental models remains (unexplored and unpopular). In other words, the journey that every aspiring renaissance thinker...
- Santangel’s Review: Charlie Munger Quotes
Link to: Quotes on Intelligent Investing – Charlie Munger Edition .................... A few I especially like: “You need a different checklist and different mental models for different companies. I can never make it easy by saying, ‘Here are three...
- Buffett's Best Man
IN CONTRAST TO THE showman-like Buffett, Munger shuns the spotlight. But he draws a smaller, more fanatical cult that seeks inspiration from his intellectual omnivorousness. "There are few people who consider acquiring knowledge their life's study...
- At 71, Physics Professor Is A Web Star
Walter H. G. Lewin, 71, a physics professor, has long had a cult following at M.I.T. And he has now emerged as an international Internet guru, thanks to the global classroom the institute created to spread knowledge through cyberspace.-Professor Lewin’s...