Collection: Warren Buffett - #341 'Charlie Munger's Worldly Wisdom In One Book'


Video Link: https://youtu.be/zRn4Veb37OM


In this episode, Warren Buffett and Charlie Munger were asked could Charlie create a curriculum, or a list of reading and experiences, which he believes would lead to his concept of worldly wisdom?


In this episode, you’ll learn:

  • How Poor Charlie's Almanack was created?

  • What can you learn from Poor Charlie's Almanack?

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[Transcript]

(Source: https://buffett.cnbc.com/2005-berkshire-hathaway-annual-meeting/)

~ Please visit the site above for full video of Berkshire Hathaway Annual Meeting.

AUDIENCE MEMBER 00:00

My name is J Dwight. I’m from a small town in Maine called Wilton, Maine. My question comes more of a request.


And could Charlie Munger create a curriculum, or a list of reading and experiences, which he believes would lead to his concept of worldly wisdom? This would serve two great — three great purposes.


One, it would pass on the most valuable possession — that is your knowledge and experience — to us and to others in the future.


Two, it would preserve and enhance that wealth beyond the material riches endowed on future generations.


And three, it would begin to remedy the stunted educations of those like — Mr. Munger — are plunging along with ordinary will, with time to improve ourselves. Thank you.


CHARLIE MUNGER 00:58

Well, of course, Peter Kaufman has tried to do that in that book that he stitched together out of my old speeches plus a lot else.


And I didn’t want to do it. And he went and saw Warren, and Warren got enthusiastic. And Warren suggested this ridiculous name, “Poor Charlie’s Almanack.” (Laughter)


And between the two of them, they really got me to do it. But the whole idea of doing it is with just the motivation you’re talking about.


I think if you assimilate everything in that simple book, you will know a lot more than about 95 percent of your compatriots.


And it’s not that hard to do. So, Peter Kaufman has made it easy for you.


WARREN BUFFETT 01:43

Yeah, I couldn’t be more enthusiastic about what you suggested. And it’s been done. And it’s a sensational book. And anybody that reads it is going to learn a whole, whole lot about life.


And you’ll learn even — to get you to read it, I’ll tell you you’ll even learn something about making money. The — and it’s right next door here, they haven’t sold out.


Number 3, please?

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