Poor Charlie’s Almanack (Charlie Munger)

Why it’s in the re-read hall of fame

• A reminder that good judgment is mostly discipline + avoiding obvious errors.
• The value of a latticework of mental models.

Notes (draft)

• Incentives are a superpower (and a foot-gun).
• Invert: “What would guarantee failure?”
• Avoid big mistakes; let time do the heavy lifting.

Questions I’m still thinking about

• What incentive structures create durable cultures?
• Which models do I routinely underweight?