Inversion
Instead of asking how an investment wins, list what would guarantee it loses - fraud, leverage, obsolescence, a price that assumes perfection - and check each against the facts. Munger attacks hard problems backward, a habit he credits to the mathematician Jacobi. In practice this is the pre-mortem: assume the position is worthless in ten years and write down why.
5 books · 3 people behind it · 4 resources
Start here
- Charlie Munger: The Complete InvestorTren Griffin, 2015
- Seeking Wisdom: From Darwin to MungerPeter Bevelin, 2003
- Poor Charlie's AlmanackCharles T. Munger, Peter D. Kaufman, 2005
The people behind it 3
Each person holds a book in this entry or names it in their own tags.
Investors 1
Journalists 2
Resources 4
- The Psychology of Human Misjudgment (transcript)Charlie Munger · talk · Munger's twenty-five standard causes of human misjudgment.
- A Lesson on Elementary Worldly WisdomCharlie Munger · talk · Munger's USC talk on building a latticework of models.
- Charlie Munger's Operating SystemShane Parrish · talk · Munger's rules for a life that actually works.
- Decision JournalsShane Parrish · essay · Recording the reasoning so hindsight cannot rewrite it.
Books 5
Charles T. Munger, Peter D. Kaufman · 2005
Andrew WilkinsonCharlie MungerChristopher BloomstranFrancois RochonGuy SpierLi LuMichael MauboussinMohnish PabraiWarren BuffettBill GatesDaniel EkDrew HoustonEric JorgensonJosh WolfeMarc AndreessenMatt MullenwegMichael BatkoNathan MurphyNaval RavikantNiki ScevakPatrick CollisonRamit SethiRyan PetersonSam AltmanShane ParrishTerrance McArthurThe Barefoot InvestorTim Ferriss
