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Blink 3 of 8 - The 5 AM Club
by Robin Sharma
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Charlie Munger summary
Tren Griffin
The Complete Investor
12 mins
Brief summary
"Charlie Munger" by Tren Griffin is a comprehensive biography of the legendary investor and Berkshire Hathaway Vice Chairman. With insights into his investment philosophy and approach to life, this book offers valuable lessons for any aspiring investor.
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Charlie Munger
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Key idea 1 of 5
Great investors like Charlie Munger and Warren Buffett dedicate lots of time to learning more.
Have you heard of Charlie Munger? He’s the legendary investor and financial partner of Warren Buffett, a household name when it comes to smart, successful investing.
But that’s not all. Munger is also vice-president of Berkshire Hathaway, where Buffett is CEO. It should come as no surprise that Munger and Buffett have guided Berkshire Hathaway more than successfully!
Berkshire Hathaway is the fifth-largest public company in the world. Its activities are broad, with interests in sectors such as insurance, finance, energy, utilities, rail freight transport, manufacturing and services. The company also is the sole owner of fast food restaurant chain Dairy Queen, clothing manufacturer Fruit of the Loom and private jet company NetJets, to name just a few.
Berkshire Hathaway also holds considerable stakes in financial services firm American Express, technology giant IBM and The Coca-Cola Company.
On the New York Stock Exchange (NYSE), Berkshire Hathaway common stock is listed with the trading symbols BRK.A and BRK.B.
In December 2014, a Berkshire Hathaway Class A share sold for over $220,000, the highest priced per-share trade on the NYSE. In 2015, the annual revenue of Berkshire Hathaway was $200 billion.
Which begs the question: how did Berkshire Hathaway become such a success?
The company’s success was built on the brilliant investing strategies and sharp minds of Munger and Buffett. For Munger, his success as an investor stems from his unwavering desire to teach himself new things. Indeed, he is the perfect example of his belief that successful investors must be learning machines.
Munger and Buffett dedicate 80 percent of their working day to reading, making acquiring tons of knowledge a key part of their work. Munger says he wasn’t born a business genius but honed his investment savvy through countless hours of reading and absorbing information daily for years.
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What is Charlie Munger about?
Charlie Munger (2015) is your guide to understanding the strategies and principles that for years have guided Warren Buffett’s financial partner, Charlie Munger, considered one of the world’s most successful investors. These blinks introduce you to the Graham value investing system that Munger uses, explain the importance of patience and courage, and show you how to make smart decisions using interdisciplinary knowledge.
Charlie Munger Review
Charlie Munger (2015) by Tren Griffin is a captivating exploration of the life and wisdom of one of the most renowned investors and thinkers of our time. Here's why this book is worth reading:
- It offers insightful lessons from Charlie Munger's unique approach to investing, decision-making, and life, providing practical wisdom for readers.
- Through in-depth analysis of Munger's speeches, writings, and interviews, the book presents a comprehensive view of his ideas and principles.
- The author's meticulous research and clear explanations make the complex concepts and ideas accessible and engaging for readers.
Best quote from Charlie Munger
His children describe him as a book with a couple of legs sticking out.
—Tren Griffin
Who should read Charlie Munger?
- New investors looking for guidance
- Readers curious how investors like Warren Buffett and Charlie Munger became so successful
- Students examining investment strategies and philosophies
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Charlie Munger FAQs
What is the main message of Charlie Munger?
The main message of Charlie Munger is the importance of developing mental models and using them to make effective decisions.
How long does it take to read Charlie Munger?
The reading time for Charlie Munger varies depending on the reader's speed, but it typically takes several hours. The summary can be read in just 15 minutes.
Is Charlie Munger a good book? Is it worth reading?
Charlie Munger is a valuable read for anyone interested in learning about the principles of successful investing and decision-making.
Who is the author of Charlie Munger?
The author of Charlie Munger is Tren Griffin.
What to read after Charlie Munger?
If you're wondering what to read next after Charlie Munger, here are some recommendations we suggest:
- Poor Charlie's Almanack by Peter D. Kaufman
- A Wealth of Common Sense by Ben Carlson
- Warren Buffett's Ground Rules by Jeremy C. Miller
- The Compound Effect by Darren Hardy
- The Algebra of Wealth by Scott Galloway
- Sapiens by Yuval Noah Harari
- The Shortest History of Economics by Andrew Leigh
- Elon Musk by Walter Isaacson
- The Snowball by Alice Schroeder
- The Intelligent Investor by Benjamin Graham and comments by Jason Zweig