you are not restricted to living people when picking mentors, some of the very best people to learn from, are dead. More than 117 bilion people have ever walked this earth. (not just a one tool like hammer!) the man who is in need of a new thinking tool, but hasn’t yet acquired it, is already paying for it. You need multiple models to cope with the complex world. The models will primarily be related to investing, but also to associated subjects such as economics, entrepreneurship & career.
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We are going to cover the most important ones in this article, which was form Charlie Munger speech on the psychology of human misjudgement and other series of interviews he did. You can get all 100 models here (including cards, QUOTES, MENTAL MAPS, MEMOS, CHECKLIST, CLASSIC BOOKS) The summary will cover a total of 28 of Charlie’s mental models.Ĭharlie Munger says he has some 100 models in his head at all times, but he also says that a few of them carry most of the freight.
For example, they have allowed Munger to be a successful Chairman at a large hospital, and they have allowed him to overcome devastating personal losses. These mental models have helped Charlie Munger to conquer the stock market, but they are so diverse that they have applications within many other areas too. In this summary you’ll learn some of the most important models which Charlie Munger uses, which he has talked about publicly. How does he do it? Through observing reality and running it against his mental models. He sees the essence of everything before you can even finish the sentence. Munger, one of the most successful investors ever, is said to have the best 30-second mind in the world. At the end of the day – if you live long enough – most people get what they deserve.Ĭharles “Charlie” Munger, a longtime resident of Pasadena, California, is perhaps best known as the Vice Chairman of the world’s greatest compound interest machine: Berkshire Hathaway, Inc. Slug it out one inch at a time, day by day. Nevertheless, you build discipline by preparing for fast spurts. Systematically you get ahead, but not necessarily in fast spurts. Discharge your duties faithfully and well. Charlie Munger: Spend each day trying to be a little wiser than you were when you woke up.
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