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Summary

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 40 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.

©2015 Columbia University Press (P)2015 Brilliance Audio, all rights reserved

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  • mp
  • 08-12-15

An excellent book.

Absolutely love it. Very straightforward and clear message to anyone related to all aspects of the way Mr Munger thinks and invests. A great job from the author

5 of 5 people found this review helpful

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    4 out of 5 stars

An ok book - perhaps better to read.

The content of the book is good and the messages being delivered behind the content is very important. But quite frankly, to hear the constant delivery of quotations of various people ('blah blah blah.' Charlie Munger. US Business School. 1998.) gets pretty tiresome after a couple of chapters. Also, I wasn't too keen on the delivery - very dry and almost robotic - which exacerbates my dislike of the constant quotes. Just because a book is about business and investing, doesn't mean it can't be delivered without any enthusiasm! In my opinion, one might be better off reading this in book format.

3 of 3 people found this review helpful

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    3 out of 5 stars

Interesting but...

Lesser known personality and thus highly interesting to investigate in that he is an important influence yet less visible in the success of Berkshire Hatthaway. However the book is so admirative of Mr Munger that it makes for a very complaisant review. The sequence of quotes from Mr Munger appears to seek to spell genius at every corner yet the reality is surely more complex.

1 of 1 people found this review helpful

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  • 26-09-17

Good Book

Great book for those of you looking to start investing in the market, thoroughly enjoyable book.

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Good collection of quotes from Charlie Munger

Good collection of quotes from Charlie Munger. The writer fails to bring these quotes together in a cohesive manner though. Narration is somewhat irritating, mainly because of several quotations.

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Anything Charlie Munger I'm reading

In this book Tren Griffin gives a great break down of how Charlie Munger thinks and see his investment philosophy

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  • Joseph R. Compton
  • 26-02-16

Good, but... one major annoyance

What made the experience of listening to Charlie Munger the most enjoyable?

The story itself is great, informative and insightful.

What was one of the most memorable moments of Charlie Munger?

Detailing how Munger draws from other disciplines to help shape strategies. I'm a sucker for a good analogy.

Did the narration match the pace of the story?

The biggest downside was the constant footnote references for the quotes. "Charlie Munger, Westco Annual Meeting, 1994", ... that broke up the pace of the story and ideas.

Any additional comments?

Cut out the footnote references in the performance. Add a PDF for the Berskshire math section.

23 of 23 people found this review helpful

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  • Nic Norman-Smith
  • 30-04-16

Quote references will drive you crazy!

Interesting book ruined by the constant references to the date and place of every single quote. We KNOW all the quotes are by Munger and whether it was in the Berkshire annual report or at a Harvard lecture is completely irrelevant. It just spoils the flow of the story. What a pity.

12 of 12 people found this review helpful

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  • Shawn McCarthy
  • 05-05-16

Great story, tough listen

I've read the book and understand that it is a collection of quotes strung together to paint an overall picture of the man we all know as Charlie the great. But, I found myself losing the story-flow because of all the citations when listening. i cannot offer a solution because of the way the book was written, but it was a tough listen.

9 of 9 people found this review helpful

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  • Lawrence
  • 01-05-16

Derivative

You would think that a book with Charlie Munger's name in the title would have at the very least new insights into what influenced his investing philosophy. Perhaps there would even be a discussion of how he influenced Warren Buffett's thinking, and vice versa. Of course this would require interviewing the subject and delving into primary source material, which appears not to have been done. Instead the work trots out quips and quotes, which most value investors have heard many times before, with the authors commentary.

8 of 8 people found this review helpful

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  • Joe99
  • 24-07-16

The content is decent, the way it is presented...not so much

If it weren't for the constant citations throughout the book it would be a much more pleasant listen/read. Literally every other sentence is cited. Can't these be saved for the end? It makes the reading/listening process twice as long plus sidetracks your train of thought while trying to learn. Decent content, poorly presented.

3 of 3 people found this review helpful

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Profile Image for Kurt Emery Matson
  • Kurt Emery Matson
  • 21-11-16

Old information - New angle.

Any additional comments?

The book was great in its discussion on rationality. Very few value-investment books pick up on the importance of temperament. This book clearly highlights the importance of self-awareness. Worth a listen.

1 of 1 people found this review helpful

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  • Glenn Samia
  • 01-10-16

Worth it

So worth the time. You won't regret your decision. I highly recommend this book. Charlie is awesome.

1 of 1 people found this review helpful

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  • Michael William
  • 27-11-15

Very condensed wisdom!

This book is very condensed with wisdom and advice. Take your time. Read through the lines and take notes. Needs a lot to digest and take more time to research keywords that can open many educational information.

4 of 6 people found this review helpful

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  • Patty Padilla
  • 20-10-15

Must Read!

How can you not learn from a Billionaire??? Worth the meager price. Invaluable lessons if you listen & apply.

11 of 18 people found this review helpful

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  • Victoria Beard
  • 04-04-18

More about the abstract, missing techniques

Was expecting more specifics about Mungers approach to value investing, but book was more general. You'd get more information reading to Graham.