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WOW!
I don’t remember where I first heard of this book, but Mr Munger’s recent passing brought it back to light. So like so many great books that go out of print, never to be published again, I scoured the internet looking for a copy only to discover that there was a recent 3rd Edition, available on Amazon as New Hardcover.I’m so far only on page 122 of 521 pages and all I can say is; WOW!
Top reviews from Canada
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Reviewed in Canada on April 8, 2024
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Reviewed in Canada on January 3, 2024
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I don’t remember where I first heard of this book, but Mr Munger’s recent passing brought it back to light. So like so many great books that go out of print, never to be published again, I scoured the internet looking for a copy only to discover that there was a recent 3rd Edition, available on Amazon as New Hardcover.
I’m so far only on page 122 of 521 pages and all I can say is; WOW!
I’m so far only on page 122 of 521 pages and all I can say is; WOW!
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Reviewed in Canada on August 9, 2023
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Reviewed in Canada on May 25, 2018
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Top reviews from other countries
MoBarbs
Munger is brilliant and his book is practically helpful, super useful
Reviewed in the United States on March 7, 2023Verified Purchase
MoBarbs
Reviewed in the United States on March 7, 2023
Why is it so helpful? He proves that he and Warren have been successful in large part from avoiding mistakes.
More specifically, the human mind has some consistent limitations and it tries its best to function in a complex world, but doesn't do a perfect job. The best antidote we have is a "latticework" of mental models – to use Munger's term. These are like mental checklists that help you self-correct before making misjudgments.
The last chapter is one of his popular talks about the Psychology of Human Misjudgment, where he lists out the 25 cognitive biases that we're all susceptible to. He gives a short, pithy definition with examples. Elon Musk also talked about the important of learning these biases in a tweet with "TitleMax" cognitive biases (look it up).
As an example (see screenshot to this review), "One corollary of Inconsistency-Avoidance – Tendency is that a person making big sacrifices in the course of assuming a new identity will intensify his devotion to the new identity. After all, it would be quite inconsistent behavior to make a large sacrifice for something that was no good."
That's super useful, since you can see that making sacrifices for new identities that you want to adopt is more intense if it has sacrifices associated with it (i.e., fitness, wealth, role as father/mother, leader, etc.) Thanks to Charlie I'm doing all I can to internalize these.
IMPORTANT: TO SUPPLEMENT AND APPLY MUNGER'S IDEAS, DON'T IGNORE THIS. This sounds technical, but please don't ignore this. Look up "The Cognitive Bias Codex" – which is a radial dendrogram that shows all the biases and makes it digest-able.
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LUIS ALBERTO JONES DUQUE
Great book!
Reviewed in Mexico on May 9, 2022Verified Purchase
Carlos
Nuevo a estrenar.
Reviewed in Spain on March 31, 2024Verified Purchase
DR
Excellent!!!
Reviewed in Germany on July 15, 2023Verified Purchase
Luisa
Wisdom
Reviewed in Italy on June 10, 2023Verified Purchase
