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Charlie Munger is Warren Buffett’s long-time partner at Berkshire Hathaway. Content to being the lesser known of the two, Munger is no less impressive. Bill Gates says that Charlie Munger “is truly the broadest thinker I have ever encountered.” Of their 50-year partnership, Buffett “couldn’t be more grateful” for their friendship and says Munger fits the profile of the ideal partner who is “both smarter and wiser.”
Poor Charlie’s Almanack is a collection of Charlie Munger’s best advice given over 30 years, in the form of 11 speeches given as commencement addresses and roundtable talks. These talks overlap significantly in content but can be slightly disorganized in theme, so in this summary we’ve synthesized the most important topics and overhauled the organization to discuss each topic coherently.
Munger’s original speeches are well worth reading for his amusing language. You’ll find gentle wit and amusing quips like “if you mix raisins with turds, and you’ve still got turds” (when talking about how immoral managers can sink good companies).
Poor Charlie’s Almanack quotes extensively from other people. Any quotes without attribution are from Charlie Munger.