For the uninitiated, there is a new book about Charlie Munger (Bershire Hathaway’s Vice Chairman) titled Charlie Munger: The Complete Investor. The text concisely details the principles of value investing, and explores Munger’s process. It may be repetitive if you have followed his career or read Poor Charlie’s Almanack: The Wit and Wisdom of Charles T. Munger. But otherwise I would highly recommend it as an introduction to this great investor.
“I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than they were when they got up, and boy, does that help, particularly when you have a long run ahead of you…. So if civilization can progress only with an advanced method of invention, you can progress only when you learn the method of learning. Nothing has served me better in my long life than continuous learning. I went through life constantly practicing (because if you don’t practice, you lose it) the multi-disciplinary approach and I can’t tell you what that’s done for me. It’s made life more fun, it’s made me more constructive, it’s made me more helpful to others, and it’s made me enormously rich. You name it, that attitude really helps.”