Poor Charlie's Almanack

Charles T. Munger (1924–2023) was an investor, businessman,and former real estate attorney. He was the vice-chairman of Berkshire Hathaway, the multinational conglomerate controlled by Warren Buffett. He was chairman of Wesco Financial Corporation from 1984 to 2011. He wasalso chairman of the Daily Journal Corporation and a director of CostcoWholesale Corporation. Peter D. Kaufmanis the chairman and CEO of Glenair, Inc. He is a former director of Wesco Financial Corporation and Daily Journal Corporation. In 2005, he edited and published Poor Charlie’s Almanack, a compilation of talks given by his longtime friend Charlie Munger. He lives in California.

"This book is something of a publishing miracle—never advertised, yet year after year selling many thousands of copies from its Internet site."—Warren Buffett, CEO of Berkshire Hathaway"Charlie Munger was born before corporate speak, before business leaders minced words to obscure truths. But Charlie Munger’s words have always cut like a knife—and that sharp spirit of truth-seeking built Berkshire into what it is today. We should all aspire to such clarity."—Katherine Boyle, general partner at a16z“Poor Charlie’s Almanack is a timeless classic that will change how you approach life. There is a billion-dollar education inside this book.” —Shane Parrish, founder of Syrus Partners and Farnam Street“This book is the best way to learn from Munger and his ideas. It’s a must-read for anyone interested in thinking clearly, rationally, and effectively.”—Ana Lorena Fabrega, author, educator, and chief evangelist at Synthesis “Charlie Munger’s insights are timeless. Some of these speeches were delivered over 20 years ago, but they feel like they could have been given yesterday.”—Tyler Hogge, venture partner at Pelion“If I could only read one book to help me succeed in life and business, this is the book I’d read. Charlie’s timeless wisdom has inspired millions and will continue to resonate for generations to come.” —David Senra, creator of the Founders podcast"This book is indispensable reading that will benefit investment professionals and retail investors alike… The rerelease of Munger’s bountiful wit and wisdom is a celebration of nearly a century of success and deserves to be at the top of our reading lists.”—Ian Robertson, CFA Institute“Those who know only a little about him think Munger was a paragon of how to pick stocks—which he was. But those who knew him well consider him a moral exemplar—someone who showed how to think clearly, deal fairly and live fully. He took nothing for granted.”—Jason Zweig, Wall Street Journal“Munger’s book offers a rare look inside one of the greatest minds of our time. From avoiding a life of misery to choosing the right business partner, you’ll learn to apply ‘Mungerisms’ to every aspect of your life.”—Marcel Schwantes, INC “As instructive as Munger’s advice—which affords peeks into how he and Buffett made their implausibly profitable investment decisions—is his unapologetic skewering of the sacred principles of contemporary investing and business education, and of the behavior of the business community generally… Munger's painfully honest and occasionally indecorous views on the mainstream investing world make for entertaining reading.”—Dave Mandle, Los Angeles Review of Books

• Foreword by John B. CollisonForeword by Warren E. BuffettRebuttal by Charles T. MungerIntroduction by Peter D. KaufmanChapter 1 A Portrait of Charles T. MungerChapter 2 Remembering: The Children on CharlieChapter 3 The Munger Approach to Life, Learning, and Decision-MakingChapter 4 Eleven TalksTalk OneHarvard School Commencement SpeechTalk One Revisited Talk TwoA Lesson On Elementary, Worldly WisdomTalk Two RevisitedWorldly Wisdom, Updated: Q&A with CharlieTalk Three A Lesson On Elementary, Worldly Wisdom, RevisitedTalk Three RevisitedTalk FourPractical Thought about Practical Thought?Talk Four RevisitedTalk FiveHarvard Law School 50th Reunion AddressTalk Five RevisitedTalk SixInvestment Practices of Leading Charitable FoundationsTalk Six RevisitedTalk SevenPhilanthropy RoundtableTalk Seven RevisitedTalk EightThe Great Financial Scandal of 2003Talk Eight RevisitedTalk NineAcademic EconomicsTalk Nine RevisitedTalk TenUSC Gould School of Law Commencement AddressTalk ElevenThe Psychology of Human MisjudgmentTalk Eleven RevisitedAppendixEndnotesRecommended ReadingAcknowledgmentsIndex