Meet the Wisest Man on the Planet – Warren Buffett’s Business Partner

Charlie MungerCharles Munger – Net Worth: $1.63 B

Who is he?

  • Born January 1, 1924 in Omaha Nebraska.

    Munger grew up during the Great Depression which helped forged his mentality of valuing the dollar.

  • Graduated Harvard Law School magna cum laude.

  • Beyond his formal education, Munger is a voracious reader. 

    Image result for charlie munger reading

  • Self Made Billionaire Value Investor, lawyer, and philanthropist.

  • Vice chairman of Berkshire Hathaway, Warren Buffet’s age-old partner.

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“Avoid extremely intense ideology because it ruins your mind” – Charlie Munger

“Charlie is truly the broadest thinker I have ever encountered” – Bill Gates

IMG_20171022_191013.jpgMunger is fond of The Lollapalooza Effect. “The critical mass obtained via a combination of concentration, curiosity, perseverance, and self-criticism, applied through a prism of multidisciplinary mental models”. (Excerpt from Poor Charlie’s Almanack)

Munger’s idea of multiple mental models is an example of lateral thinking (the solving of problems by an indirect and creative approach, typically through viewing the problem in a new and unusual light.)

Munger also likes to think backwards or practice inversion while solving a problem. He picked this up from the mathematician Carl Jacobi.Image result for carl jacobi invert

A basic example of inversion is say “I want a six pack. Okay cool, using inversion, what do I not do in order to get a six pack”: eat unhealthy food, stay in bed all day, etc. Easier said then done but its an effective way to think. In the quote below you can see Munger touching to his mungerism, “invert, always invert”.Image result for munger on not being stupid

“Acquire worldly wisdom and adjust your behavior accordingly. If your new behavior gives you a little temporary unpopularity with your peer group…then to hell with them.” – Charlie Munger

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