tag:blogger.com,1999:blog-143428002011-12-14T19:11:09.153-08:00To embrace worldly wisdom through Charlie T. Munger Latticework model theory. This blog is to discuss about any subject where we can draw multiple models from multiple disciplines. We must have a tool kit, so we eliminate the problem of " To a men with a hammer, every problem looks like a nail"Average Joehttp://www.blogger.com/profile/04302101662586276422noreply@blogger.comBlogger81100tag:blogger.com,1999:blog-14342800.post-1158535121585440922006-09-17T16:18:00.000-07:002006-09-17T16:18:41.596-07:00

Today, I was watching a video of Warren Buffett, on that video there is a small interview with Charlie Munger. Charlie mentioned the following German saying: “You get OLD too soon & SMARTER too late”.This thought is just extremely powerful in life. If you can find people that get you smarter sooner, then your life should improve big time. In my personal experience, I think this is true; in fact I

Average Joehttp://www.blogger.com/profile/04302101662586276422noreply@blogger.com0tag:blogger.com,1999:blog-14342800.post-1157864124084715172006-09-09T21:54:00.000-07:002006-09-09T21:55:24.100-07:00

While doing valuation work it is always interesting that most of the people start thinking about future growth. The assumption of growth is interesting, because it assumes that you can look at the future very clearly. There are also people that "assume" low growth rates into their calculations, and believed that they are being conservative.The problem with the above is that Im inclined to think

Average Joehttp://www.blogger.com/profile/04302101662586276422noreply@blogger.com0tag:blogger.com,1999:blog-14342800.post-1124045810538965262005-08-14T11:55:00.000-07:002005-08-14T11:58:48.666-07:00

I recently bought Poor Charlie’s Almanack, which is a review of Charlie Munger life. The book is structure similarly as Poor Richard’s Almanack by Ben Franklin. For those interested in the understanding Charlie’s multidisciplinary approach, I highly recommend to buy a copy.In the book, there is a speech given in July 20, 1996. The name of the speech was Practical Thought about Practical Thought?

Average Joehttp://www.blogger.com/profile/04302101662586276422noreply@blogger.com1tag:blogger.com,1999:blog-14342800.post-1121635355867238732005-07-17T14:16:00.000-07:002005-07-17T14:33:46.336-07:00

I just finished to read a new book called "Freakonomics" by Steven Levitt & Stephen Dubner. Levitt is not the typical economist, he looks at the world in a different way; he uses economics to explain human behavior. The book was written based on few fundamental ideas, I would mentioned two:a) Incentives are the cornerstone of modern lifeb) The conventional wisdom is often wrong (But not always!)

Average Joehttp://www.blogger.com/profile/04302101662586276422noreply@blogger.com0tag:blogger.com,1999:blog-14342800.post-1121051907196214542005-07-10T19:43:00.000-07:002005-07-11T09:01:59.970-07:00

Albert Einstein is alleged to have called compound interest one of the most powerful forces in the universe. Charlie Munger considered compound interest as one of the key models in our tool kit.I found an interesting blog from Michael Moe, posted in May 2005 (ThinkEquity Blog) about compound interest. Below is a portion of his post..."...we can benefit from the magic of compounding identifying

Average Joehttp://www.blogger.com/profile/04302101662586276422noreply@blogger.com0tag:blogger.com,1999:blog-14342800.post-1121032562933661012005-07-10T14:40:00.000-07:002005-07-10T19:14:09.443-07:00

Last Annual Shareholders Meeting at Berkshire Hathaway, CEO Warren Buffett did mentioned about him being worry of Nuclear and Bio threat. He also mentioned that he's been working diligently to reduce the exposure in all Berkshire Insurance subsidiaries. During the meeting he did recommended a video produced by the Nuclear Threat Initiative (NTI). Warren called it "a fictional but not fanciful"

Average Joehttp://www.blogger.com/profile/04302101662586276422noreply@blogger.com0tag:blogger.com,1999:blog-14342800.post-1120955071206350322005-07-09T17:08:00.000-07:002005-07-10T14:57:34.873-07:00

For those who are not familiar with Charlie Munger's Worldly Wisdom, I attached below link to a speech given by him at the USC Business School (1994)...http://www.paladinvest.com/pifiles/MungersWorldlyWisdom.htmJust a final quote from Charlie T. Munger: " Acquire Worldly Wisdom and adjust your behavior accordingly. If your new behavior gives you a little temporary unpopularity with you peer group

Average Joehttp://www.blogger.com/profile/04302101662586276422noreply@blogger.com0tag:blogger.com,1999:blog-14342800.post-1120953444383451532005-07-09T16:41:00.000-07:002005-07-10T14:57:11.016-07:00

Today was the day that I finally understood Charlie Munger's words about why he wanted to get rich. His answer was "independence"!.At age 22, I got the opportunity of an explosive growth career... My career growth was not due to high IQ or because "my uncle" helped me to escalate the corporate ladder. Neither it was because of a stike of luck or any fortune teller wisdom. Today, I finally

Average Joehttp://www.blogger.com/profile/04302101662586276422noreply@blogger.com0