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[1] [2] The concept was developed by Warren Buffett and Charlie Munger as what they call a mental model, a codified form of business acumen, concerning the investment strategy of limiting one's financial investments in areas where an individual may have limited understanding or experience, while concentrating in areas where one has the greatest ...
In multiple speeches, and in the 2005 book Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger, "worldly wisdom" consists of a set of mental models framed as a latticework to help solve critical business problems. [6] Munger (far right) and Warren Buffett (second from the left) in March 1998.
The term mental model is believed to have originated with Kenneth Craik in his 1943 book The Nature of Explanation. [1] [2] Georges-Henri Luquet in Le dessin enfantin (Children's drawings), published in 1927 by Alcan, Paris, argued that children construct internal models, a view that influenced, among others, child psychologist Jean Piaget.
In chapter three of "Charlie Munger (Trades, Portfolio): The Complete Investor", author Tren Griffin introduces readers to what is called the "lattice of mental models" that lead to worldly wisdom.
Charlie Munger, Berkshire Hathaway's vice chairman and Warren Buffett's right-hand man for decades, died Tuesday at the age of 99. ... One of those famed mental models is a phenomenon Munger ...
Charlie Munger, vice chairman of Berkshire Hathaway (BRK-A, BRK-B) and a legend of the investing world, died on Nov. 28 at the age of 99. To commemorate Munger's monumental legacy, we’ve ...
Poor Charlie's Almanack is a collection of speeches and talks by Charlie Munger, compiled by Peter D. Kaufman. First published in 2005 (ISBN 1-57864-303-1), it was released in an expanded edition (ISBN 1-578-64501-8) three years later. It was republished in 2023 by Stripe Press, shortly before Munger's death.
Munger's book, Poor Charlie's Almanack, collects his speeches and If you know Berkshire Hathaway (NYS: BRK.B) , then you probably know its vice chairman, Charlie Munger -- Buffett's right-hand man.