Poor Charlie's Almanack

[Guest longinvestor]

I wonder how rich Munger would have been if he never met Buffett? Still well off, I'm sure but not any where close to where he is now.

 

I wonder how rich would I be if I was the one introduced to Buffet back then and we hit it off? Much richer for sure. LOL

Back then, if I was introduced to Buffett and somehow became his partner(how/why in the hell, don't know), investors would certainly not have become as rich as they are now, ha!

[Crip1]

I wonder how rich Munger would have been if he never met Buffett? Still well off, I'm sure but not any where close to where he is now.

 

 

Your point is valid, kinda, but I think we are all victims/beneficiaries of circumstance to a certain point. How successful would Lennon have been had he not met McCartney and vice-versa. Same for Jagger-Richards, etc.

 

 

-Crip

[InspireByReason]

I'm actually finishing it up right now it's a really good book for general business wisdom and ways of going through life with a candle to guide you when it's dark. I highly recommend it. It was a nice break from all the accounting books ;)

[John Hjorth]

I wonder how rich Munger would have been if he never met Buffett? Still well off, I'm sure but not any where close to where he is now.

 

I wonder how rich would I be if I was the one introduced to Buffet back then and we hit it off? Much richer for sure. LOL

Back then, if I was introduced to Buffett and somehow became his partner(how/why in the hell, don't know), investors would certainly not have become as rich as they are now, ha!

 

I just received this book today, after ordering it at a Danish book store about a couple of weeks ago. Somehow - right now - I don't feel richer.... - After carefully analyzing the whole situation of why I feel so, I finally found the answer : I got the book in Mandarin Chinese version .... [ : - / ] - Back it goes.

[kiwing100]

Soft copy here

https://www.stripe.press/poor-charlies-almanack/book?progress=0.00
 

[kiwing100]

Today, we’re releasing a conversation between John Collison and Charlie Munger. We've had this interview with Charlie scheduled to air for a while, coinciding with Stripe Press's launch of the amazing reprint of Poor Charlie's Almanack, which is released today.

We were all stunned last week when we heard the news of Charlie's passing, but having consulted with those close to him, everyone agreed that he'd want us to release this interview. I'm thankful to be able to learn from him just one more time in this interview. Please enjoy, and may Charlie Rest in Peace.

 

https://podcasts.google.com/feed/aHR0cHM6Ly9pbnZlc3RsaWtldGhlYmVzdC5saWJzeW4uY29tL3Jzcw/episode/NTNjNjY5ZTQtOTJiYS0xMWVlLTg0NjQtMzNkZTIzOWQxODBk?sa=X&ved=0CAgQuIEEahgKEwjIm8je2_qCAxUAAAAAHQAAAAAQ4gM

[Charlie]

kiwing100  

 

Great interview!!! Thank you for sharing!!!

 

 

Cheers!

 

[pricingpower]

The Rebuttal to the Foreward is very Munger, it's great.  Love how Stripe made the free web release of the third edition have an integrated audiobook defaulting to 1.5x speed too.

 

https://www.stripe.press/poor-charlies-almanack/forewords#charles-t-munger

[KCLarkin]

Other than the Collison foreward, there is no new content in this edition, correct?

 

"This abridged edition features a new foreword by Stripe cofounder and president John Collison."

[Xerxes]

 

I never read this out of print book. Naturally I was trying to find the print of the new edition on Amazon.
 

There are some “notebook” version. 

so be careful. 

[Spooky]

Any new content in this book since the last version?

[gfp]

7 minutes ago, Spooky said:

Any new content in this book since the last version?

 

I think just the foreword by Collison, but the entire book is available for free and even has a clever "Berkshire Mode" that looks like their W.E.B. site.

https://www.stripe.press/poor-charlies-almanack/cover

[Gamecock-YT]

Wonder what the price of the autographed first edition has appreciated in price the past month?

[John Hjorth]

I preordered this book back on August 17^th 2023, I've never owned any of the past editions, nor read any of them. Got it delivered about a week ago from today.  I put it in my bag for reading purposes in waiting positions and while under public transportation.

 

This part on p. 37 in the printed book really hit me like a cub over my head while reading in it today.

 

It's in the last part of Chapter 1 in Berkshire version, ref. @gfp above. So the below is from the last part of Chapter 1, and to me - in a away - this concept of "making friends with the eminent dead" will likely become the legacy and fate destiny of Mr. Munger himself in relation to a lot of people in the World Wide investment commmunity.

 

"Charlie’s affinity for Benjamin Franklin’s expansive career in government, business, finance, and industry can be found in his many speeches and whenever he holds an audience, large or small. At the 75th anniversary of See’s Candies, Charlie said:

“I am a biography nut myself. And I think when you’re trying to teach the great concepts that work, it helps to tie them into the lives and personalities of the people who developed them. I think you learn economics better if you make Adam Smith your friend. That sounds funny, making friends among the “eminent dead,” but if you go through life making friends with the eminent dead who had the right ideas, I think it will work better for you in life and work better in education. It’s way better than just giving the basic concepts. ”

Edited December 12, 2023 by John Hjorth

[schin]

7 hours ago, John Hjorth said:

That sounds funny, making friends among the “eminent dead,” but if you go through life making friends with the eminent dead who had the right ideas, I think it will work better for you in life and work better in education. It’s way better than just giving the basic concepts. ”

 

I think "who had the right ideas" is the key phrase here.  There will be cases where you want to learn what not to do... from Hilter, Mussolini, Mao, etc...but, figuring out the right ideas in the sea of noise is the hard part.

[John Hjorth]

5 hours ago, schin said:

 

I think "who had the right ideas" is the key phrase here.  There will be cases where you want to learn what not to do... from Hilter, Mussolini, Mao, etc...but, figuring out the right ideas in the sea of noise is the hard part.

 

Yes, @schin,

 

While that appears in a way almost a tautology to me, it's right, where first part is the thought process about the question "Worthy to keep and preserve [,based on moral grounds and / or whatever], or not?", like in a sorting process. [ditch, dump, drop or leave vs keep and preserve].

Edited December 13, 2023 by John Hjorth

[Suri22]

this is one book that has timeless wisdom about psychology of investing