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The Years of Lyndon Johnson: The Path to Power by Robert Caro (1982). Munger allegedly recommended this book at the 2004 Wesco annual meeting. While making any investment capital is assigned, allocating capital and assets intelligently is a must.
See’s has thus been able to distribute huge sums that have helped Berkshire buy other businesses that, in turn, have themselves produced large distributable profits. (Envision rabbits breeding.)
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Fixable but unfixed bad performance is bad character and tends to create more of it, causing more damage to the excuse giver with each tolerated instance.” Charlie Munger was the long-serving vice-chairman of Berkshire Hathaway. This book brings together his investing thoughts beyond his famous statement "I have nothing to add." [1] [2] The Language Instinct: How the Mind Creates Language by Steven Pinker (1994). Munger recommended the book in this transcript. The " Lollapalooza Effect" is Munger's term for the confluence of multiple biases; according to Munger, the tendency toward extremism results from such confluences. [7] These biases often occur at either conscious or subconscious level, and at both microeconomic and macroeconomic scales. The Need for More Multidisciplinary Skills from Professionals: Educational Implications Harvard Law School Class of 1948, April 24, 1998
Hall, Jason (2015-01-31). "Charlie Munger: 5 Quotes Show Why Warren Buffett's No. 2 is More Important Than You Think -". The Motley Fool . Retrieved 2019-02-18. If you put it down feeling as if you haven't learned enough, blame yourself, not the author. Better InvestingIt's extremely rare (and generous!) to read a book written by successful businessman with his life&business decision-making framework openly laid out before reader's eyes. Even rarer still is to see that author is also a pure intellectual, striving for science-like clarity and validity of his ideas.