I read a few years ago the Poor Charlie’s Almanack and found it to be a really great book for many areas in life. It’s also a long and heavy book so you might wish to get it it to your Kindle. Charles Munger is a brilliant thinker and it’s no surprise that the book is full of practical wisdom.
Some of the points I took and used many times:
Incentives – He talks about the incentives and how they are in the root of many systems. One of the more powerful statements is: “If you wish to see what people will do – look at their incentives”. It holds true both to people and to teams & companies.
Bias – How the human mind is closing itself after it ‘knows’ something. That might be really hard when you want to change your thoughts on a topic. You should embrace people who think differently and aren’t agree with you on every topic. It’s not easy but rewarding and will improve your decisions. Continue reading