Charlie Munger’s Reading List: “Wise People Read”!
Charlie Munger is one of the world’s smartest investors. For over 40 years, he has been Warren Buffett’s partner and right-hand man. Together, they have built Warren’s company, Berkshire Hathaway, into a $700 billion enterprise. Apart from building a successful business with his friend, Charlie Munger has also invested in several other businesses.
Warren Buffett has always said that Charlie Munger gave him valuable investment advice that contributed to his success. Charlie doesn’t only reserve his nuggets of wisdom for his friends. He shares it freely with everyone who cares to listen. This is why people are always eager to know what’s on Charlie Munger’s reading list for each season.
For the past 80 years, Charlie Munger has gathered an incredible wealth of wisdom that has earned him the respect of the world’s most influential people. Bill Gates says that he’s the broadest thinker he has ever come across, while Indian millionaire Mohnish Pabrai rates him to be more intelligent than Warren Buffett himself.
Charlie Munger’s wisdom didn’t just grow overnight. It came from years of reading avidly about money, investment, and wealth creation. In this article, we want to review some books on Charlie Munger’s reading list, which will be of interest to anybody eager to acquire additional knowledge about financial matters and solid investments. And those of us, who simply don’t have the time to read a big pile of books, can refer to Blinkist, the knowledge App, for some of the titles on this list and other instrumental reading.
Charlie Munger’s Book Recommendations
Below are 10 books on Charlie Munger’s reading list that make for a fascinating read. Their themes range from investment to business management and all-around financial literacy. Let’s delve in!
1. The Warren Buffett Portfolio by Robert G. Hamstrom
It’s a no-brainer, Warren Buffett must be a recurring name when you compile any list of Charlie Munger’s recommended books. This book analyzes Warren Buffett’s investment portfolio and the key principles that guide his investment decisions. The book explains how and why Warren Buffett focuses on buying devalued companies with strong competitive advantages. It also outlines the strategies he uses to evaluate these companies.
2. The Wealth and Poverty of Nations by David Landes
In this book, David Landes tries to explain why a nation is either poor or rich. He uses a historical perspective to explore the different factors that have boosted or stagnated the economies of different countries. He argues that every rich nation used to be poor until it created marketable economies that transitioned it to a rich country. Poor nations, on the other hand, are nations that failed to take this initiative.
3. The Tao of Charlie Munger by David Clark
Out of all the books on Charlie Munger’s reading list, this one will give you a valuable insight into his mind. In this book, David Clark compiles all of Charlie Munger’s philosophies and investment approaches. It explores Charlie’s key principles for success, which include rational thinking, continuous learning, and ethical behavior.
4. F.I.A.S.C.O: The Inside Story of a Wall Street Trader by Frank Partnoy
F.I.A.S.C.O provides an insider view of the intense, high-stakes world of Wall Street. In this memoir, Partnoy shares his experience as a derivatives trader who faced intense pressure to deliver results at all costs. He exposes the risks, unethical practices, and the culture of greed and recklessness that characterize Wall Street.
5. Seeking Wisdom: From Darwin to Munger by Peter Bevelin
- 22 min reading time
- audio version available
Wanting to know which books are on Charlie Munger’s reading list probably means that you aim to be as smart as Charlie. Well, if that’s the case, then you should absolutely read this book. Seeking Wisdom explores the principles of rational thinking and decision-making by referring to some of the world’s most eminent thinkers. .
6. Charlie Munger: The Complete Investor by Trenholme J. Griffin
This is another of Charlie Munger’s recommended books that breaks down his approach to investment. This book emphasizes Charlie Munger’s philosophies in a simple and straightforward pattern, so that newbie investors can apply them.
7. The Greatest Trade Ever by Gregory Zuckermann
In this book, Gregory Zuckermann flashes his headlamp on the investors who predicted the 2018 financial crisis. He emphasizes mainly the business strategies, which John Paulson used to make billions of dollars, by betting against the subprime mortgage market.
8. Models of My Life by Herbert A. Simon
In this autobiography, Herbert Simon introspects his career as a scientist and tries to use the knowledge he acquired to explain other aspects of his life. The Nobel laureate also shares his philosophy on education, politics, and science.
9. How the Scots Invented the Modern World by Arthur Herman
In this interesting book, Arthur Herman argues that Scotland played an indispensable role in shaping the modern world. He highlights the works and exploits of many notable Scots and how they impacted the world.
10. Influence: The Psychology of Persuasion by Robert Cialdini
- 33 min reading time
- audio version available
Another top title on Charlie Munger’s reading list is “Influence: The Psychology of Persuasion.” It teaches the psychological aspect of getting people to say yes, and how to apply this in business. The author expatiates on 6 key principles of influence, namely, commitment and consistency, reciprocity, liking, scarcity, authority, and social proof.
What to Read Next? Following on From Charlie Munger’s Book List
After exploring these books on Charlie Munger’s reading list, you may also want to read some books he authored. Some of his books include:
- Poor Charlie’s Almanack: The Wits and Wisdom of Charlie T. Munger
- The Psychology of Human Misjudgment
- On Success
- Worldly Wisdom
All of these books, alongside the one listed on Charlie Munger’s reading list, will sharpen your mind and give you insights that will make you a smarter investor. They will also give you a clearer understanding of human psychology and the means of building better relationships with people.
If you’re looking to acquire Charlie Munger’s kind of wisdom, in fun and easy bite-sized units, you can refer to the Blinkist list of Charlie Munger’s recommended books. With Blinkist, you will be able to absorb the key ideas of these books within a few minutes.
By the way: as a Blinkist user, you can also add any titles that you feel should be blinked to the wishlist or upvote some books that others have already added.
Blinkist: Powerful Ideas Can Come In Small Doses
Blinkist has broken down some of the most voluminous books into small doses. So, if you’re unable to sit for long hours reading, these handy summaries and 15-minute podcasts are ideal for you. Now, you can just listen and acquire priceless knowledge on the go.