Munger had invested in a Caterpillar tractor dealership and saw how it gobbled up money, which sat in the yard in the form of slow-selling tractors…

I am a biography nut myself. And I think when you’re trying to teach the great concepts that work, it helps to tie them into the lives and personalities of he people who developed them. I think you learn economics better if you make Adam Smith your friend. That sounds funny, making friends among the eminent dead, but if you go through life making friends with the eminent dead who had the right ideas, I think it will work better in life and work better in education. It’s way better than just being given the basic concepts.” 139 Consequently, the list of Charlie Munger book recommendations is culled from an array of genres, ranging from finance to biographies to physics.

Books recommended by Charlie Munger:

See’s has thus been able to distribute huge sums that have helped Berkshire buy other businesses that, in turn, have themselves produced large distributable profits. (Envision rabbits breeding.) Andy Grove led chipmaker Intel through massive, industry-wide change that threatened the company. In his book Only the Paranoid Survive, he examines the strategies he used during this crisis, suggesting that other managers can use them in similar situations. Models of My Life Subtitle: How Steve Ross Rode the Light Fantastic from Undertaker to Creator of the Largest Media Conglomerate in the World Benjamin Franklin has many biographies, but Munger enjoyed this one enough to recommend it. The book contains a wide selection of Franklin’s autobiographical writings, many of which were out of print for an extended period. Additionally, you’ll find several letters Franklin wrote that were never published before this book was released. Judgement in Managerial Decision Making

All of the books listed below are organized by their date of first publication. The Blind Watchmaker People calculate too much and think too little," Munger says. "Part of [having uncommon sense] is being able to tune out folly, as opposed to recognizing wisdom. If you bat away many things, you don't clutter yourself." While making any investment capital is assigned, allocating capital and assets intelligently is a must. Griffin offers an elegantly unified theory of Munger's ideas, organized in a coherent framework from a generous sampling of his scattered remarks in various forums over many years. Intelligent, thoughtful, helpful—and a delight to read. Lawrence Cunningham, author of Berkshire Beyond Buffett: The Enduring Value of Values In the places like The The Dow Chemical Company ( NYSE:DOW ) Company ( NYSE:DOW ) with complex chemical process, with 1000 PhDs, it is still hard to not be commoditized. Posco was able to do so.” — Charlie Munger Daily Journal 2015 Meeting [FULL NOTES]Faraday, Maxwell, and the Electromagnetic Field: How Two Men Revolutionized Physics by Nancy Forbes and Basil Mahon (2014): Munger recommended this book in a 2014 appearance on CNBC, as relayed by Business Insider.

From humble beginnings, Charlie Munger has become one of the financial world’s most recognisable figures over past five decades. And it all started on January 1, 1924 when Charles Thomas Munger was born in Omaha, Nebraska. It is not given to human beings to have such talent that they can just know everything about everything all the time. However, it is given to human beings who work hard at it. Who look and sift the world for a mispriced bet – that they can occasionally find one.” This book is a collection of Munger's and Buffet's quotes (probably even citing Buffet more often than Munger), which the author uses to explain their life philosophy and the principles of value investing. Munger wanted to own a business that did not require continual investment, and spat out more cash than it consumed…Munger was always asking people, “What’s the best business you’ve ever heard of?” Thinking that what is good for you is good for the wider civilization, and rationalizing foolish or evil conduct, based on your subconscious tendency to serve yourself, is a terrible way to think.”

How to Vote

Google’s had such an extreme cultural impact that the phrase “Google it” is now synonymous with “look it up.” But how did Google become the behemoth it is today? In this book, Steven Levy takes readers inside the company to highlight its history and operations. The Club Let me use a little inversion now. What will really fail in life? What do we want to avoid? Some answers are easy. For example, sloth and unreliability will fail.” 429 On derivatives: “The system is almost insanely irresponsible.” “I’ll be amazed if we don’t have some kind of significant [derivatives-related} blowup in the next five to ten years.” The safest way to try to get what you want is to try to deserve what you want. It is such a simple idea. It is the golden rule. You want to deliver to the world what you would buy if you were on the other end.” I am not entitled to have an opinion unless I can state the arguments against my position better than the people who are in opposition. I think that I am qualified to speak only when I have reached that state.”