David Senra on LinkedIn: Charlie Munger’s formula: “There is an old two-part rule that often…
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David Senra on LinkedIn: Charlie Munger’s formula: “There is an old two-part rule that often…
think the reason why we got into such idiocy in investment management is best illustrated by a story that I tell about the guy who sold fishing tackle. I asked him, "My God, they're purple and green. Do fish really take these lures?" And he said, "Mister, I don't sell to fish."
Charlie Munger • A Lesson On Elementary, Worldly Wisdom As It Relates To Investment Management & Business – Charles Munger, USC Business School, 1994
Charlie Munger, Warren Buffett’s partner and vice chairman of Berkshire Hathaway, stresses the importance of having a broad theoretical toolbox – not to be a good academic, but to have a good, pragmatic grip on reality. He regularly explains to students which mental models have proven most useful to help him understand markets and human behaviour.
... See moreSönke Ahrens • How to Take Smart Notes: One Simple Technique to Boost Writing, Learning and Thinking – for Students, Academics and Nonfiction Book Writers
The best mental models I have found came through evolution, game theory, and Charlie Munger. Charlie Munger is Warren Buffett’s partner.
Tim Ferriss • The Almanack of Naval Ravikant: A Guide to Wealth and Happiness
Markets:The model I like—to sort of simplify the notion of what goes on in a market for common stocks—is the pari-mutuel system at the racetrack. If you stop to think about it, a pari-mutuel system is a market. Everybody goes there and bets and the odds change based on what's bet. That's what happens in the stock market. Any damn ... See more