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Taiwan,[II][k] officially the Republic of China (ROC),[I][l] is a country[27] in East Asia.[o] It is located at the junction of the East and South China Seas in the northwestern Pacific Ocean, with the People's Republic of China (PRC) to the northwest, Japan to the northeast, and the Philippines to the south. The territories controlled by the ...
Super angel. Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to protect against the risk of a contingent or uncertain loss. An entity which provides insurance is ...
Viète. de Moivre. Euler. Fourier. v. t. e. In trigonometry, trigonometric identities are equalities that involve trigonometric functions and are true for every value of the occurring variables for which both sides of the equality are defined. Geometrically, these are identities involving certain functions of one or more angles.
Google Chrome is a web browser developed by Google. It was first released in 2008 for Microsoft Windows, built with free software components from Apple WebKit and Mozilla Firefox.[16] Versions were later released for Linux, macOS, iOS, and also for Android, where it is the default browser.[17] The browser is also the main component of ChromeOS ...
- Early Life and Education
- Investment Career
- Investment Philosophy
- Wealth and Philanthropy
- Personal Life
- General and Cited Sources
- Further Reading
Charles Thomas Munger was born on January 1, 1924, in Omaha, Nebraska, to Florence "Toody" (Russell) and Alfred Case Munger, a lawyer. As a teenager, he worked at Buffett & Son, a grocery store owned by Warren Buffett's grandfather, Ernest P. Buffett. His grandfather, Thomas Charles Munger, was a state representative and later a U.S. district court...
Munger moved with his family to California, where he joined the law firm Wright & Garrett (later Musick, Peeler & Garrett). In 1962, he founded and worked as a real estate attorney at Munger, Tolles & Olson LLP. He then gave up the practice of law to concentrate on managing investments and later partnered with Otis Booth in real estate development....
"Elementary, worldly wisdom"
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. Munger, along with Buffett, was one of the main inspirations behind the book Seeking Wisdom: From Darwin to Munger. Author Peter Bevelin explained his key learnings from both Munger and Buffett in a 2007 interview: "How to think about businesses and investing, how to be...
Lollapalooza effect
Munger used the term "Lollapalooza effect" for multiple biases, tendencies or mental models acting in compound with each other at the same time in the same direction. With the Lollapalooza effect, itself a mental model, the result is often extreme, due to the confluence of the mental models, biases or tendencies acting together, greatly increasing the likelihood of acting irrationally. During a talk at Harvard in 1995 titled The Psychology of Human Misjudgment, Munger mentioned Tupperware par...
Criticism of cryptocurrencies and Robinhood
Munger was critical of cryptocurrencies, referring to Bitcoin in particular as "noxious poison". Munger also compared Robinhood to gambling, saying that its success is due to "people who know how to take advantage essentially of the gambling instincts of, not only American public, worldwide public" and further explained why he thinks individual investments without commission is tantamount to gambling. "If you cater to those gambling chips, when people have money in their pocket for the first...
At the time of his death, Munger had an estimated net worth of $2.6 billion and was ranked as the 1,182nd richest person in the world, according to Forbes. Munger was a major benefactor of the University of Michigan. In 2007, Munger made a $3 million gift to the University of Michigan Law Schoolfor lighting improvements in Hutchins Hall and the Wil...
In 1945, while studying at Caltech, Munger married Nancy Huggins, daughter of Frederick R. Huggins and Edith M. Huggins. She was a Pasadena native who had been Munger's sister's roommate at Scripps College. They had three children, Wendy Munger (a former corporate lawyer, trustee of Stanford University, and trustee of The Huntington Library), Molly...
Bevelin, Peter (2007). Seeking Wisdom: From Darwin to Munger (ISBN 1-57864-428-3)Griffin, Tren (2015). Charlie Munger: The Complete Investor. (ISBN 023117098X)Kaufman, Peter (2005, 2006 for the second edition and 2008 for the third edition). Poor Charlie's Almanack: The Wit and Wisdom of Charles T. MungerLabitan, Bud (2008). The Four Filters Invention of Warren Buffett and Charlie Munger, Acalmix (ISBN 978-0-615-24129-6)Rojas, Claudio R. (2014). "An Indeterminate Theory of Canadian Corporate Law". University of British Columbia Law Review. 47 (1): 59–128 ("The author's perspective on Berkshire Hathaway's investmen...
Smallpox was an infectious disease caused by variola virus (often called smallpox virus), which belongs to the genus Orthopoxvirus. [7] [11] The last naturally occurring case was diagnosed in October 1977, and the World Health Organization (WHO) certified the global eradication of the disease in 1980, [10] making smallpox the only human disease ...
Sir Charles Spencer Chaplin KBE (16 April 1889 – 25 December 1977) was an English comic actor, filmmaker, and composer who rose to fame in the era of silent film. He became a worldwide icon through his screen persona, the Tramp, and is considered one of the film industry's most important figures. His career spanned more than 75 years, from ...
