BOOK REVIEW: Poor Charlie’s Almanack by Charlie Munger

Being reading ‘POOR CHARLIE’S ALMANACk’ The book is about the wisdom of Charlie Munger the partner of Warren Buffet. Charlie is 98 years old and he is worth $2.8 Billion. Here are some of the wisdom I have received so far

“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. 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 in life and work better in education” Charlie Munger.

Charlie is encouraging us to read, imitate, and find our way. It is financially irresponsible not to constantly develop yourself through books, podcasts, or reading my newsletter. Nothing is new under the sun said king Solomon, so study the greats and make your own way prosperous from your rigorous studies. David Ogilvy the founder of the biggest advertising company in the world ‘OGILVY’ He said in his book ‘Confessions of an advertising Man’ that he is an inveterate brain picker, and that he picks the brains of those who have written the greatest adverts before him.

Invest in your personal education, it will make you smarter, and richer, and enhance your decision-making process in this world.

You can start small, like a page a day or a 30-minute podcast a day.

Don’t Be UNRELIABLE: Charlie said that the key to living a miserable life is to be unreliable, that if you’re consistently unreliable….. “ Master this one habit and you can always play the role of the hare in the fable, except that instead of being outrun by one fine turtle you will be outrun by hordes and hordes of mediocre turtles and even by some mediocre turtles on crutches” Wow! What he is saying, in essence, is that if you’re unreliable people who are not as smart, talented, or qualified as you will overtake you in life. Notice how that unreliable tailor around your house when you were growing up is still broke today with all his amazing skills. He is talented but unreliable.

Focus on the task in front of you like a Roman. Discipline is a competitive advantage in this world now. If you decide to make 10 sales calls, please do it without checking social media notifications. If you are distracted by a call or notification it will take you another 30 minutes to get to the level of focus you were before the call or notification came.

THREE BIG IDEAS

  1. Study books of those who have gone ahead of you
  2. Be reliable
  3. Remove distractions

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