The favourite mental models and timeless lessons from Charlie Munger on how to build worldly wisdom.Charlie Munger was the business partner of Warren Buffet and the cofounder of Berkshire Hathaway. The most successful investing company in history. He was obsessed with how ot make better decisions.His book is full of ways to help you be less wrong and how to find an edge where you can perform at your best and minimise risk of losing. From the inversion principle to understanding opportunity cost and your own circle of competence. He has a no nonsense strategy and likeable charm that just oozes credibility and makes you wish you'd spent time working and learning from him.- - -About Wiser Pod 📚Nico and Sam set out to read the world's best books, from philosophy to sci-fi, economics to who knows what.Sam Webster Harris👋 LinkedIn - Sam Harris🧠 Psychology Pod - Growth Mindset Psychology🚀 New Pod - How to Change the WorldNicolas Vereecke👋 LinkedIn - Nico Vereecke🤖 AI world domination - Evil Plan Inc- - -How to Change the World: The History and Future of InnovationSPOTIFY - ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://open.spotify.com/show/1Fj3eFjEoAEKF5lWQxPJyT⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠APPLE - ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://podcasts.apple.com/us/podcast/how-to-change-the-world-the-history-of-innovation/id1815282649⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠YOUTUBE - ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.youtube.com/@HowToChangeTheWorldPodcast⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠---Chapters00:00 Poor Charlie's Almanac02:58 Interdisciplinary Thinking05:44 Understanding Circle of Competence06:54 Opportunity Costs in Decision Making07:49 The Inversion Principle10:43 Cognitive Biases Overview11:51 Confirmation Bias and Clear Thinking13:38 Authority Bias and Independent Thought15:30 Social Proof and Individuality16:55 Arguing Against Your Own Beliefs17:37 Critiquing Charlie's Rationality18:10 Lack of Emotion and suspension of belief19:29 Binary thinking and fixed mindset24:35 The Art of Rational Decision Making25:48 First Principles Thinking27:35 Probabilistic Thinking and Risks29:11 The Margin of Safety30:25 Chauffeur Knowledge vs. True Understanding32:40 Applying Mental Models in Real Life33:27 Sharing Wisdom and Building Community34:51 Conclusions Hosted on Acast. See acast.com/privacy for more information.

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