Poor Charlie's Almanack: The Essential Wit and Wisdom of Charles T. Munger
A collection of speeches, talks, and insights from Charlie Munger on thinking and investing
"All I want to know is where I'm going to die so I'll never go there."
— Charles T. Munger
My Review
Munger's mental models approach is the closest thing to biological first principles thinking in the investment world. His emphasis on inversion, second-order effects, and multidisciplinary thinking directly influenced the framework. The speeches on human misjudgment are particularly relevant.
Why It Matters
Munger exemplifies the multi-model thinking that the Biology of Business framework promotes. His emphasis on learning from multiple disciplines and avoiding predictable errors aligns with biological pattern recognition.
Key Ideas
- Mental models from multiple disciplines improve decision quality
- Inversion: think about what to avoid, not just what to achieve
- Second-order thinking: consider downstream consequences
- Avoid standard stupidity rather than seeking brilliance
How It Connects to This Framework
The framework's emphasis on cross-domain patterns and avoiding systematic errors is directly influenced by Munger's mental models approach.
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The full Biology of Business book explores these concepts in depth with practical frameworks.