- Charlie Munger, Warren Buffett’s business partner, is arguably the world’s greatest living investor
- Covers the areas that Munger emphasizes in his decision making process including: the Graham value investing system, active vs. passive index investing, his concept of worldly wisdom, and the psychology of human misjudgment
- A road map for how you can think and act like one of the world’s most successful investors
Microsoft Executive Tren Griffin’s Investing Answer: Charlie Munger via Ari I. Weinberg, The Wall Street Journal
a book by Mr. Griffin, “Charlie Munger: The Complete Investor” (Columbia Business School Publishing), will be published in September.
Here are edited excerpts of a recent conversation with Mr. Griffin about investing, decision making, index funds and business:
WSJ: Why would a strategy executive at Microsoft write so much about investing?
The latest Robinhood Investors Conference is in the books, and some hedge funds made an appearance at the conference. In a panel on hedge funds moderated by Maverick Capital's Lee Ainslie, Ricky Sandler of Eminence Capital, Gaurav Kapadia of XN and Glen Kacher of Light Street discussed their own hedge funds and various aspects of Read More
TREN GRIFFIN: Writing helps you understand any topic better. It forces you to think things through from start to finish. Warren Buffett has said that if you can’t write it down, you have not thought it through. Thinking like an investor improves business performance. Capital allocation skills are essential in both business and investing.
WSJ: Which of your “Dozen Things I’ve Learned From...” posts is your favorite?
TREN GRIFFIN: Nassim Taleb, author of “Fooled by Randomness,” “The Black Swan” and “Antifragile.” I had just taken a long walk with him in downtown Seattle, so my level of apprehension about possibly getting the ideas in the post wrong was very high. And he would surely let me know if I made a mistake.
See full article here.
Charlie Munger: The Complete Investor - Description
Charlie Munger, Berkshire Hathaway's visionary vice chairman and Warren Buffett's indispensable financial partner, has outperformed market indexes again and again, and he believes any investor can do the same. His notion of "elementary, worldly wisdom"--a set of interdisciplinary mental models involving economics, business, psychology, ethics, and management--allows him to keep his emotions out of his investments and avoid the common pitfalls of bad judgment.
Munger's system has steered his investments for forty years and has guided generations of successful investors. This book presents the essential steps of Munger's investing strategy, condensed here for the first time from interviews, speeches, writings, and shareholder letters, and paired with commentary from fund managers, value investors, and business-case historians. Derived from Ben Graham's value-investing system, Munger's approach is straightforward enough that ordinary investors can apply it to their portfolios. This book is not simply about investing. It is about cultivating mental models for your whole life, but especially for your investments.