Charlie Munger: Mental Models For The Rest Of Your Life
Lesson summary:
Charlie Munger, the vice chairman of Berkshire Hathaway and a successful investor, believes that the need for new thinking tools is just as important as the need for new machine tools. Munger uses mental models to observe reality and make informed decisions. He suggests that one should have a Swiss Army Knife Approach to learning and acquire multiple mental models to develop worldly wisdom. Munger also recommends making friends with the eminent dead and learning from the most successful people in various fields. The mental models he uses have helped him to be successful in the stock market, as well as in other areas of life. In this series, the Swedish Investor covers some of the most important models that Munger uses, starting with “The Swiss Army Knife Approach.” Munger also recommends inverting ideas, recognizing reality, and crushing cherished beliefs to become a successful thinker.
