Poor Charlie's Almanack

From the legendary vice-chairman of Berkshire Hathaway, lessons in investment strategy, philanthropy, and living a rational and ethical life. "A timeless classic that will change how you approach life. There is a billion-dollar education inside this book."—Shane Parrish, founder of Syrus Partners and Farnam Street "Spend each day trying to be a little wiser than you were when you woke up," Charles T. Munger advises in Poor Charlie’s Almanack.  Originally published in 2005, this compendium of eleven talks delivered by the legendary Berkshire Hathaway vice-chairman between 1986 and 2007 has become a touchstone for a generation of investors and entrepreneurs seeking to absorb the enduring wit and wisdom of one of the great minds of the 20th and 21st centuries. Poor Charlie’s Almanack draws on Munger’s encyclopedic knowledge of business, finance, history, philosophy, physics, and ethics—and more besides—to introduce the latticework of mental models that underpin his rational and rigorous approach to life, learning, and decision-making. Delivered with Munger’s characteristic sharp wit and rhetorical flair, it is an essential volume for any reader seeking to go to bed a little wiser than when they woke up.

Charles T. Munger (1924–2023) was an investor, businessman, and former real estate attorney. He was the vice-chairman of Berkshire Hathaway, the multinational conglomerate controlled by Warren Buffett. He was chairman of Wesco Financial Corporation from 1984 to 2011. He was also chairman of the Daily Journal Corporation and a director of Costco Wholesale Corporation. Peter D. Kaufman is the chairman and CEO of Glenair, Inc. He is a former director of Wesco Financial Corporation and Daily Journal Corporation. In 2005, he edited and published Poor Charlie’s Almanack, a compilation of talks given by his longtime friend Charlie Munger. He lives in California.

Foreword by John B. Collison Foreword by Warren E. Buffett Rebuttal by Charles T. Munger Introduction by Peter D. Kaufman Chapter 1 A Portrait of Charles T. Munger Chapter 2 Remembering: The Children on Charlie Chapter 3 The Munger Approach to Life, Learning, and Decision-Making Chapter 4 Eleven Talks Talk One Harvard School Commencement Speech Talk One Revisited Talk Two A Lesson On Elementary, Worldly Wisdom Talk Two Revisited Worldly Wisdom, Updated: Q&A with Charlie Talk Three  A Lesson On Elementary, Worldly Wisdom, Revisited Talk Three Revisited Talk Four Practical Thought about Practical Thought? Talk Four Revisited Talk Five Harvard Law School 50th Reunion Address Talk Five Revisited Talk Six Investment Practices of Leading Charitable Foundations Talk Six Revisited Talk Seven Philanthropy Roundtable Talk Seven Revisited Talk Eight The Great Financial Scandal of 2003 Talk Eight Revisited Talk Nine Academic Economics Talk Nine Revisited Talk Ten USC Gould School of Law Commencement Address Talk Eleven The Psychology of Human Misjudgment Talk Eleven Revisited Appendix Endnotes Recommended Reading Acknowledgments Index