For those of you who don’t know who Charlie Munger is, a quick google search would reveal that he is Warren Buffet’s, 93 year old, soft-spoken partner. I’ve recently started reading Poor Charlie’s Almanack, by Kaufman. It is one of the best books I’ve read to date!
Normally I’m not much of a biography reader, but this isn’t quite a biography. It’s a collection of speeches and commentary from Munger along with some passages from Buffet and some of Charlie’s other associates. It reads really well, as it is broken up in to very manageable chunks. As someone who usually only reads dense non-fiction, I thought I wouldn’t enjoy the the personal stories and anecdotes but I caught myself laughing along with many of the funnier ones.
One of my favorite accounts told by Warren was of the nature of some of his and Charlie’s conversations. Buffet said that he’d often call Charlie up to talk through possible investment opportunities and Charlie would almost always say ‘no’ and tell Warren how bad of an idea it was. On rare occasions Warren would say respectfully tell Charlie he was going to do it anyway and at that point Charlie would regularly respond ‘Can I have a percentage?’. I’m not sure why I enjoyed this passage so much, but it really summarized everything I had read about him until then.
Finally, one of my favorite things to learn about Munger has been his thought process. He has always read a lot (we both love Guns Germs and Steel). I have recently become more and more interested in how to think, and learning how the greats think rather than just what they do. It seems Munger shares a similar interest, which is why he reads so many biographies and history books.
While I have learned a lot about investing from Munger, I think the biggest take away has been his approach to learning and life in general. Next on my list is Seeking Wisdom!