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Poor Charlie's Almanack. It's a compilation of talks and essays from Charlie Munger, Warren Buffet's business partner. This book has single-handedly changed my

Poor Charlie's Almanack. It's a compilation of talks and essays from Charlie Munger, Warren Buffet's business partner. This book has single-handedly changed my invest strategies and mindset. Instead of trying to buy low and sell high, Berkshire Hathaway holds a large cash position, until they find something they consider to be a sure bet, take a large stake and hold. I now have the quote "Be right and hold tight" written at my work table.

MarkMc 9y ago
Poor Charlie's Almanack is a fine book, but as it's just a collection of speeches and short stories the content is somewhat unstructured. I prefer "Seeking Wisdom from Darwin To Munger" by Peter Bevelin: https://www.amazon.com/Seeking-Wisdom-Darwin-Munger-3rd/dp/1578644283 https://www.amazon.com/Seeking-Wisdom-Darwin-Munger-3rd/dp/1...
- supershobu 9y ago
  This is one of the most powerful books I have read.
  - makerleader 9y ago
    This is the best "reference" book out there in my opinion. My algorithm for making decisions now boils down to: Filling out this: https://www.farnamstreetblog.com/2014/02/decision-journal/ https://www.farnamstreetblog.com/2014/02/decision-journal/ and referencing applicable models from Seeking Wisdom and https://www.farnamstreetblog.com/mental-models/ https://www.farnamstreetblog.com/mental-models/