Buy on Amazon
Buy on Apple Books

About the book

Charlie Munger, Berkshire Hathaway's visionary vice chairman and Warren Buffett's indispensable financial partner, has outperformed market indexes again and again, and he believes any investor can do the same. His notion of "elementary, worldly wisdom"--a set of interdisciplinary mental models involving economics, business, psychology, ethics, and management--allows him to keep his emotions out of his investments and avoid the common pitfalls of bad judgment.

Munger's system has steered his investments for forty years and has guided generations of successful investors. This book presents the essential steps of Munger's investing strategy, condensed here for the first time from interviews, speeches, writings, and shareholder letters, and paired with commentary from fund managers, value investors, and business-case historians. Derived from Ben Graham's value-investing system, Munger's approach is straightforward enough that ordinary investors can apply it to their portfolios. This book is not simply about investing. It is about cultivating mental models for your whole life, but especially for your investments.

Related books

The Obstacle Is the Way

Ryan Holiday

Think and Grow Rich

Napoleon Hill

The Score Takes Care of Itself

Bill Walsh

Rework

David Heinemeier Hansson

The E-Myth Revisited

Michael E. Gerber

Traction

Gabriel Weinberg & Justin Mares

Ego Is the Enemy

Ryan Holiday

Freakonomics

Steven D. Levitt

Getting Things Done

David Allen

Superforecasting

Philip E. Tetlock & Dan Gardner

The ONE Thing

Gary Keller & Jay Papasan