Poor Charlie’s Almanack

Poor Charlie’s Almanack is a book by Charles T. Munger; edited by Peter D. Kaufman, published in 2018. This Waffle podcast explores the book across 5 episodes.

Why does Munger treat wealth as a means to independence, and how do reliability, learning from others, and avoiding predictable mistakes support that goal? How can an investor use mental models to distinguish a great business from a great investment—and decide when the odds justify a substantial commitment? What does Munger’s Coca-Cola thought experiment reveal about combining economics and psychology to produce extraordinary results, and what limits does he acknowledge in persuasion and teaching? Why do capable professionals sincerely make harmful decisions, and how can better incentives, multidisciplinary training, and deliberate decision routines improve their judgment? How do reciprocity, fear of loss, social proof, and obedience to authority combine to derail judgment—and what safeguards can interrupt them before mistakes become catastrophes?

These episodes are AI-generated adaptations grounded in the book. Listen to the first episode here and continue the series in the Waffle app.