“At Harvard Business School, the great quantitative thing that bonds the first-year class together is what they call decision tree theory. All they do is take high school algebra and apply it to real-life problems. And the students love it. They’re amazed to find that high school algebra works in life.”
Charlie Munger
Poor Charlie’s Almanack (Primary source)
In the tradition of Benjamin Franklin’s own almanack, Poor Charlie’s Almanack stands as a remarkable distillation of one man’s lifelong pursuit of what he termed elementary worldly wisdom. Compiled with evident devotion by Peter Kaufman and first published in 2005, this volume represents the most comprehensive gathering of Charles Munger’s speeches, insights, and philosophical observations spanning two decades of public discourse.
More about “Poor Charlie’s Almanack” →
“In my whole life, I have known no wise people (over a broad subject matter) who didn’t read all the time—none, zero. You’d be amazed how much Warren reads—and at how much I read. My children laugh at me. They think I’m a book with a couple of legs sticking out.”
— Charlie Munger Primary source“So you have to figure out what your own aptitudes are. If you play games where other people have the aptitudes and you don’t, you’re going to lose. And that’s as close to certain as any prediction you can make. You have to figure out where you’ve got an edge. And you’ve got to play within your own circle of competence.”
— Charlie Munger Primary source“I think a life properly lived is just learn, learn, learn all the time.”
— Charlie Munger Primary source“Invert, always invert”
— Charlie Munger Primary sourceMore quotes by Charlie Munger →
“The most difficult thing is the decision to act. The rest is merely tenacity. The fears are paper tigers. You can do anything you decide to do. You can act to change and control your life and the procedure. The process is its own reward.”
— Amelia Earhart Disputed“Technical people love to discuss technical problems with technical people who might have an opinion or a suggestion that could be useful.”
— Richard Feynman Primary source“Let every new year find you a better man.”
— Benjamin Franklin Primary source“Love, genuine passionate love, was his for the first time.”
— Jack London Primary source