Peter Kaufman (ed.), Charlie Munger

Poor Charlie's Almanack

1. IDEA 1

   Latticework of mental models

   Learn the big ideas from many disciplines and use them together. A person with one tool sees every problem as a nail.

2. IDEA 2

   Invert, always invert

   Ask what would cause failure and avoid it. Solving problems backwards often works better.

3. IDEA 3

   Incentives drive behaviour

   Never underestimate the power of incentives. Show me the incentive and I'll show you the outcome.

All 6 ideas from Poor Charlie's Almanack →