I have completed almost 100 pages of the biography. Several nuggets of wisdom and learnings come through. One thing which strikes is the honesty and fairness with which charlie has always conducted his affairs.

There is an incident in the book. Guerin ( if i have not got his name wrong ) joined charlie as a partner in the munger , wheeler and Co. ( which was an investment partneship modelled after the buffet partnership ). To start with guerin was not too rich when he joined munger in this partnership.
During the course of their dealing , they accquired a chemical company ( as an aside that too is an intersting tale of how they accquired it ). some time later , guerin wanted to cash out his portion of the deal. He valued it as 200000 usd and would have been happy with it. Munger remarked that he was wrong and it was closer to 300000 usd. His remark was to the effect ‘if you think hard about it , you will agree with me because you are smart and i am right’

As you go through the book, you realise that munger has always been fair and honest in all his dealing and has never tried to cut corners. This is admirable because there are enough examples of rich people who have cut corners. But buffet and munger are people who have achieved their success with out cutting corners. To use a quote from the book , which munger uses ‘To avoid envy from other , you should deserve your success’

i have been reading this biography for the last few days. Doing it for the second time. I have always admired charlie munger for his wisdom and the perspective he brings to investing, business and life in general.

i have read and re-read his talks on – mental models : multipdiscplinary approach to investing, his talk on 24 type of human misjudgement and several others. These talks are phenomenal and has opened an entirely new way of thinking for me .

I can say that along with warren buffet, charlie munger has influenced me a lot.

A few learnings from charlie biography for me have been
– act honorably / honestly . Treat people fairly. You never know when you will meet them again
– money is means to an end. It helps you to achieve financial freedom so that you can do what you love. money should not be an end in itself
– be rational. Rationality is more important than IQ
– keep an open mind . Always be inquisite . learning is a life long process
– learn from as many disciplines as possible. As charlie say – To a man with a hammer , every problem is like a nail. Learn the key models , and try to use them to solve problems
– reading should be with a purpose in mind. It should help one in building one’s knowledge

i could go on and on. frankly enjoying myself reading this biography for the second. i am also looking forward to charlie’s new book which is coming out in may.

if anyone is interested in his speeches , let me know. would be glad to share it. not sure if i can post them here .