A friend who is studying together in the group said: Ever since I read "Poor Charlie's Almanac", Mr. Charlie Munger has become my male idol. I have no interest in Peng Yuyan or anything else. After all, Brainy is the new sexy.

Look, on the battlefield of wisdom, 95-year-old Munger won.

Charlie Munger is a partner of the world-famous investor Warren Buffett. Compared with Buffett, Charlie Munger is more low-key.

"Poor Charlie's Almanac" contains Charlie Munger's conversations and speeches over the past 20 years. The Charlie reflected in these manuscripts is knowledgeable, focused, patient, rational, and a little bit proud. , is an investor with a thinker’s temperament and full of wisdom.

Let’s talk about the surprises this good book brings to us through the wisdom of Charlie Munger:

I didn’t understand before that patents can not only protect the economic interests of an organization , what else does it do? After all, there is such an abuse phenomenon as "applying for a patent on Kobe's shooting posture".

In an episode of the fifth season of "Qi Pa Shuo", Professor Xue Zhaofeng, as the devil, told a story to illustrate the logic behind patents.

This is the first time that I feel a strong cognitive improvement.

The general idea of ??the story is this:

The existence of patents is to tell others that I am doing this and you can go do other things, which can effectively prevent the waste of social costs.

Looking at the level of the whole society, patents are very smart and reasonable inventions.

Charlie Munger has mentioned in many speeches that he likes the Navy's system.

If a captain in the Navy works 24 hours straight, needs to go to sleep, and leaves the ship in the hands of a very capable first mate in a rough environment, and he runs the ship aground, that's obviously not the captain's fault. Wrong, but the captain's naval career was over.

This system is unfair to the captain, but it can ensure that the least number of ships will hit the rocks. This benefit far outweighs the unfair treatment of a captain.

Sometimes unfairness exists for a higher good.

A stricter system can ensure that fewer people take advantage of loopholes.

A good book, like this, can help us improve our cognition: When we can't see the truth clearly in front of us, maybe we should set our sights on a higher position.

In his speech, Charlie mentioned the "Hammer Man's Tendency" many times. The term comes from the proverb: "To a person with only a hammer, every problem looks very much like a nail."

It means that people with a single knowledge often use this knowledge to explain Of course this is wrong with all phenomena and problems because the world is complex.

Professionals with "hammer tendencies" are even more dangerous.

To avoid the "hammer tendency", you can only have various tools, that is, have interdisciplinary knowledge and form multiple thinking models in your mind.

Charlie said it was difficult, but not that difficult.

You only need to master the most basic models in each discipline, and consciously train them in daily life until you can use them skillfully.

The most basic knowledge models that Charlie believes include the principle of compound interest, the principle of permutation and combination, decision tree theory in mathematics, algebra, accounting, backup systems in engineering, breaking point theory, and statistics. Critical mass concept in physics, biology/physiology, psychology, microeconomics, etc.

Seeing this long list of truths, I can only comfort myself with Hu Shi’s words: I am afraid that the truth will be endless, and there will be further joy.

Is it difficult to obtain the truth? It’s difficult because learning is an uphill climb and you’ll always feel a little tired. But when you read about Charlie citing scriptures and using his multiple thinking models to analyze decisions in the book, these truths are full of attraction.

A good book can open a door for readers. Outside the door is a wider and more colorful world. It is there, quietly exuding charm.

Berkshire Hathaway’s brilliant achievements are inseparable from Charlie Munger. Berkshire’s investment philosophy mentioned in the book can be roughly divided into two points.

The first point is to draw a circle of competence.

Regarding investment, Charlie has three options: can invest, cannot invest, and is too difficult to understand. He carefully draws out his circle of competence, and then uses his multiple thinking model to find opportunities in industries he understands. Outstanding enterprises.

The second point is to buy the stocks of a few excellent companies and hold them for a long time without excessive trading, thereby reducing the average annual management cost to 0.1% of the total capital.

Once a target is found, Berkshire makes a big bet to buy it and hold it for the long term.

In the process of selecting excellent companies, in addition to using his amazing multiple thinking models, Charlie will also use a combination of reverse thinking and forward thinking, and check his "checklist".

A country boy once said: "If only I knew where I was going to die, I would never go there."

Charlie liked the meaning of this story. Simple wisdom: always think the other way around. It would be nice to know which methods will set you up for failure and try to avoid them.

Just as Charlie did in a speech, he prescribed four medicines for a painful life, and finally concluded: May you grow with the goal of avoiding failure every day in your long life.

In his book, Charlie recommends four basic checklists. As follows:

We can also make our own checklists, such as outing luggage lists, work checklists, behavioral guidance lists, etc.

A person's growth path is just like Berkshire's investment philosophy: find out the strengths in the circle of competence and focus on them for the long term.

Combine forward thinking with reverse thinking, develop the habit of checking the "check list", train multiple thinking models, and follow the footsteps of Charlie Munger, let us slowly expand our circle of competence.

I read Chai Jing's "Seeing" a few months ago and I didn't understand the "ideology" mentioned in the book. Unexpectedly, when I read "Poor Charlie's Almanac", I suddenly became enlightened.

Similarly, there are a lot of things in "Poor Charlie's Almanac" that I can't understand, but I'm not in a hurry. Maybe the next time I reread it, it will all be clear.

The unknown must exist, and this is the charm of knowledge. If you move forward with the unknown, you can always get the answer.