About Charlie Munger
Charlie Munger is Warren Buffett's friend and business partner. He is a wise billionaire who, unfortunately for the rest of us, did not write many books. However, he did reveal something that I found missing in all the books written by multimillionaires.
Namely, he provides insights as to how to structure your mind for always thinking profitably. In other words, if you structure your mind to think correctly at all times, you will become rich.
Warren Buffett in fact admitted that Munger "rewired" his brain.
I came up with this line to summarize what I feel is the essence of his teaching: "We never stop learning because we never stop being deceived."
But how does this billionaire learn? His method is the "continuous acquisition and progressive integration of mental models into his reflexive way of thinking."
In other words, he is continually sifting through books, from a great variety of disciplines (biolography, math, politics, psychology, etc.) to find the key operating principles in each discipline. Then, he integrates those principles or mental models into his habitual way of thinking.
In other words, he's not just reading books and merely acquiring knowledge. He is significantly altering the very structure of this mind and his way of thinking, so that his mental performance is continually improved as he makes strategic decisions.
Below is an excerpt from a book about him. Email me at omnidigitalbrain@yahoo.com if you want the whole chapter. Mention "charlie munger" in the subject heading. For subscribers only.
---
"One of the most elusive, intriguing, and independent business leaders in America, the 76-year-old Munger said it was his goal to stay just below the wealth-level required to be named to the Forbes richest Americans list. It would help him stand just outside the limelight. The strategy
didn’t work.
In 1998, Munger’s fortune was calculated at more than $1.2 billion. On the richest Americans list, Munger ranked just below the family heirs to the Levi Strauss fortune. He ranked just above Michael Eisner, head of the Walt Disney Company; hotel heir William Barron Hilton, and most surprisingly, higher than Silicon Valley computer nabob Steven Jobs.
Like Warren Buffett, Munger inherited no wealth. He built his fortune on the sheer power of his will and his business acumen."
- From the book Damn Right!
Namely, he provides insights as to how to structure your mind for always thinking profitably. In other words, if you structure your mind to think correctly at all times, you will become rich.
Warren Buffett in fact admitted that Munger "rewired" his brain.
I came up with this line to summarize what I feel is the essence of his teaching: "We never stop learning because we never stop being deceived."
But how does this billionaire learn? His method is the "continuous acquisition and progressive integration of mental models into his reflexive way of thinking."
In other words, he is continually sifting through books, from a great variety of disciplines (biolography, math, politics, psychology, etc.) to find the key operating principles in each discipline. Then, he integrates those principles or mental models into his habitual way of thinking.
In other words, he's not just reading books and merely acquiring knowledge. He is significantly altering the very structure of this mind and his way of thinking, so that his mental performance is continually improved as he makes strategic decisions.
Below is an excerpt from a book about him. Email me at omnidigitalbrain@yahoo.com if you want the whole chapter. Mention "charlie munger" in the subject heading. For subscribers only.
---
"One of the most elusive, intriguing, and independent business leaders in America, the 76-year-old Munger said it was his goal to stay just below the wealth-level required to be named to the Forbes richest Americans list. It would help him stand just outside the limelight. The strategy
didn’t work.
In 1998, Munger’s fortune was calculated at more than $1.2 billion. On the richest Americans list, Munger ranked just below the family heirs to the Levi Strauss fortune. He ranked just above Michael Eisner, head of the Walt Disney Company; hotel heir William Barron Hilton, and most surprisingly, higher than Silicon Valley computer nabob Steven Jobs.
Like Warren Buffett, Munger inherited no wealth. He built his fortune on the sheer power of his will and his business acumen."
- From the book Damn Right!
posted by Super Peter at 9:52 AM
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