Charlie Munger: The Complete Investor
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.
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by Rok G.
Amazing book, well written and offers a valuable insight into the minds on Munger and Buffet. Got me hooked and wanting for more. Must buy.
by M. McHugh
Very good, interesting book. However, it gives a general overview of investing and doesn’t give much technical insight.
It does give very good insights into Charlie Munger’s mind, and some excellent quotes from both Munger and Warren Buffett.
by nicky ireland
Great book , for new investors. Explains in layman’s terms how to read businesses and more importantly how to react against your emotions in times of uncertainty.
by jorge rachid
Excelente. Baita experiência. Sábio. Ainda da para aprimorar o inglês.
by Joshua S
Enjoyable read but somewhat disjointed and no new ground covered. Enjoyable but didn’t live up to the hype.
by Kindle Customer
Very interesting book, more about principles of value investing, than Charlie Munger definitely worth a read, really enjoyed reading the book
by R. Cepuch
Probably the best book yet on the extraordinary Charlie Munger – entertaining, informative and eminently readable. It’s a well-curated collection of important wisdom for investors based on quotes from Munger (and more than a few from Warren Buffett). If you’re not able to go to the Berkshire Hathaway shareholder meeting in Omaha every spring for a refresher course in common sense investing, reading this book might well be the next best thing.
by Axel Foley
Great book. I’ve read a heap of Buffet / Berkshire book and this was very enjoyable from the perspective of his less than covered partner. Great use of quotes and some good tidbits of advice not previously found elsewhere. Well done Tren!
by Dr W. H. Konarzewski
In this short book (192 pages) Tren Griffin gives us a selection of well-chosen quotes from which we can built up a picture of Charlie Munger the man and Charlie Munger the Investor – not that there’s much difference between the two.
The great charm of Charlie Munger is his simple, no frills approach. He doesn’t like ‘twaddle’ and he doesn’t mince his words and he doesn’t let emotions get in the way of decision making. It’s ok, he says, to make mistakes, so long as you learn from them and don’t repeat them. If an investing opportunity seems too complex, he shelves it and looks for an easier one. In his view it is better to have ‘focused’ portfolios – say ten good shares, rather than a hundred mediocre ones.
Some of the best quotes from Munger are the shortest:
‘Our biggest mistakes were the things we didn’t do, companies we didn’t buy.’
‘Terribly smart people make totally bonkers mistakes.’
‘The idea of a margin of safety, a Graham precept, will never be obsolete.’
This book could perhaps have been a little longer and maybe analysed some of Charlie Munger’s deals and given us a little more biography. But for any students of investing who want a quick insight into the mind of one of the greatest investors of all time, this book is first class and strongly recommended.
by est
Libro che cambia il punto di vista per gli investimenti
by John
Great book. Potentially a little washy and repetitive but does well to hone those points in. Bravo
by Radhika
Great book for those who are not sure about investing and whether to invest in stock and shares. Good insights
by SJBlevins
Lots of straightforward wisdom and advice. Insights about human nature and an engaging approach to investment problems. Unfortunately the book has two structural flaws l: it ends abruptly and he constantly repeats the term graham value investor.