"Spend each day trying to be a little wiser than you were when you woke up."
Charlie Munger was Warren Buffett's longtime business partner and vice chairman of Berkshire Hathaway, widely regarded as one of the sharpest investing minds of the 20th century. Poor Charlie's Almanack compiles his speeches and writings on 'worldly wisdom' — a multidisciplinary mental-models approach to decision-making that shaped generations of investors.
Our in-depth summaries and reviews of his work
Charlie Munger's collected wisdom on mental models, cognitive biases, and rational investing. A masterclass in thinking clearly about money, business, and life.
Read Summary →Munger argued that no single discipline holds all the answers — the best decisions come from a latticework of mental models borrowed from psychology, economics, physics, and biology, applied together.
Munger credited voracious, wide-ranging reading as the foundation of good judgment, famously noting that he had never met a wise person who didn't read constantly.
Discipline matters as much as insight — Munger emphasized the character it takes to hold cash and do nothing rather than chase mediocre opportunities out of impatience.
"In my whole life, I have known no wise people who didn't read all the time — none, zero."— Poor Charlie's Almanack
"Spend each day trying to be a little wiser than you were when you woke up. Day by day, and at the end of the day, if you live long enough, like most people, you will get out of life what you deserve."— Poor Charlie's Almanack
"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."— Poor Charlie's Almanack
"It takes character to sit with all that cash and to do nothing. I didn't get to where I am by going after mediocre opportunities."— Poor Charlie's Almanack
Charlie Munger's collected wisdom on mental models, cognitive biases, and rational investing. A masterclass in thinking clearly about money, business, and life.
