Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger
★★★★★ 5.0
Published: Estimated Reading Time: (1 min read) Key Points:
- Mental Models: Advocates building a latticework of mental models from multiple disciplines to improve decision-making.
- Inversion: Munger’s favorite technique—instead of asking how to succeed, ask how to fail and avoid those things.
- Circle of Competence: Know what you don’t know. Stay within your area of expertise.
- Psychology of Misjudgment: 25 cognitive biases that lead to poor decisions, with practical examples.
- Worldly Wisdom: Integration of psychology, economics, physics, biology, and history into a unified approach to thinking.
- Intellectual Honesty: Brutal self-criticism and willingness to change one’s mind when evidence demands it.
