Charlie Munger: The Complete Investor

By Tren Griffin

If you have no interest in economics or investing but you do you have an interest in rationality and learning how some extraordinary people think, you will enjoy this book.

Charlie Munger is Warren Buffet's partner in world of investing. His main approach investing is having a number of mental models (in different topics such as economics, management etc.) that consist of a few pieces "elementary worldy wisdom." These are essentially very simple statements, such as "Always have a margin of safety on an investment", which seem obvious but are surprisingly hard to follow without error for long period of time given that humans fall prey to cognitive biases, our emotions, or even just plain old laziness (thinking is hard).

My key takeaway from this book is knowing that you don't have be really intelligent as just consistently not being stupid can earn you massive long term rewards.

Also Tren Griffin's twitter is top notch.

Originally posted on Facebook January 11, 2017.