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The golden ratio was called the extreme and mean ratio by Euclid, and the divine proportion by Luca Pacioli, and also goes by several other names. Mathematicians have studied the golden ratio's properties since antiquity. It is the ratio of a regular pentagon's diagonal to its side and thus appears in the construction of the dodecahedron and icosahedron.
Gold is a chemical element with the symbol Au (from the Latin word aurum) and the atomic number 79. In its pure form, it is a bright, slightly orange-yellow, dense, soft, malleable, and ductile metal. Chemically, gold is a transition metal, a group 11 element, and one of the noble metals. It is one of the least reactive chemical elements ...
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.
- 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...
Barry Bonds holds the Major League Baseball home run record with 762. [a] He passed Hank Aaron, who hit 755, on August 7, 2007. The only other players to have hit 700 or more are Babe Ruth with 714, and Albert Pujols with 703. Alex Rodriguez (696), Willie Mays (660), Ken Griffey Jr. (630), Jim Thome (612), and Sammy Sosa (609) are the only ...
Bitcoin (abbreviation: BTC; sign: ) is the first decentralized cryptocurrency. Nodes in the peer-to-peer bitcoin network verify transactions through cryptography and record them in a public distributed ledger, called a blockchain, without central oversight. Consensus between nodes is achieved using a computationally intensive process based on proof of work, called mining, that guarantees the ...
Charles II (29 May 1630 – 6 February 1685)[c] was King of Scotland from 1649 until 1651 and King of England, Scotland, and Ireland from the 1660 Restoration of the monarchy until his death in 1685. Charles II was the eldest surviving child of Charles I of England, Scotland and Ireland and Henrietta Maria of France. After Charles I's ...
