Money and Finance
From Charlie Munger: The Complete Investor:
- Links
A Dozen Things Learned from Charlie Munger about Making Rational Decisions (LINK) A Dozen Things Learned from Charlie Munger about Mental Models and Worldly Wisdom (LINK) Related book: Charlie Munger: The Complete InvestorJason Zweig: 5 Things...
- 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...
- 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...
- Charlie And Checklists
"Checklist routines avoid a lot of errors. You should have all this elementary [worldly] wisdom and then you should go through a mental checklist in order to use it. There is no other procedure in the world that will work as well." -- Charlie Munger -...
- Markets Are Made Up Of People
If you've followed up on Charlie Munger's book recommendations, then you'll know Robert Cialdini. Cialdini is most famous for "Influence", and he joins a cavalcade of authors at the big book signing every year in Omaha at the annual Berkshire...
Money and Finance
On checklists and not being stupid...
From Charlie Munger: The Complete Investor:
A lattice approach is, in effect, a double-check on the investing process. But instead of just two checks, you are checking the result over and over. Munger believes that by going over your decision-making process and carefully using skills, ideas, and models from many disciplines, you can more consistently not be stupid. You will always make some bone-headed mistakes even if you’re careful, but his process is designed to decrease the probability of those mistakes.
To make sure he is taking advantage of as many models as possible, Munger likes checklists:
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.
—Charlie Munger, Berkshire Annual Meeting, 2002
- Links
A Dozen Things Learned from Charlie Munger about Making Rational Decisions (LINK) A Dozen Things Learned from Charlie Munger about Mental Models and Worldly Wisdom (LINK) Related book: Charlie Munger: The Complete InvestorJason Zweig: 5 Things...
- 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...
- 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...
- Charlie And Checklists
"Checklist routines avoid a lot of errors. You should have all this elementary [worldly] wisdom and then you should go through a mental checklist in order to use it. There is no other procedure in the world that will work as well." -- Charlie Munger -...
- Markets Are Made Up Of People
If you've followed up on Charlie Munger's book recommendations, then you'll know Robert Cialdini. Cialdini is most famous for "Influence", and he joins a cavalcade of authors at the big book signing every year in Omaha at the annual Berkshire...