This post will focus on some of the key take-aways from Charlie Munger’s book:Poor Charlie’s Almanack: The Wit and Wisdom of Charles T. Munger, Expanded Third Edition.
- There are several instances that Charlie recalls involving how his family was able to get through hard times by helping each other. E.g. his grandfather sent his son-in-law to pharmacy school and helped him purchase a well-located pharmacy that hd gone bankrupt as a result of the depression. Charlie recalls: “by supporting each other, the Mungers weathered the worst economic collapse in the nation’s history.”
- Deeper meaning: help others and your life will improve too. Karma comes back, why not help others?
- During university, Charlie took a physics course and was fascinated by how Physicists approached problems. “Physics-like problem solving was to become a passion for Charlie and is a skill he considers helpful in framing the problems of life”
- Deeper meaning: a vast amount of knowledge allows you to make connections you would otherwise make. Putting ahead of you peers and colleagues.
- As a successful lawyer, Charlie opened his own practice and his motto was:
“It’s the work on your desk…. It’s the work on your desk. Do well with what you already have and more will come in.” He learnt this from his
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