market folly

If you haven't noticed before, we've compiled a list of books recommended by top investors like Seth Klarman, Warren Buffett and many others on the right sidebar of the website.  This time around we'll look at picks from Charlie Munger, Warren Buffett's business partner at Berkshire Hathaway.

One quote from Munger always sticks out: "In my whole life, I have known no wise people who didn't read all the time - none, zero."  With that in mind, here's some of Charlie Munger's favorite books:


Charlie Munger's Recommended Reading List

  Influence: The Psychology of Persuasion by Robert Cialdini
Probably the most frequent recommendation from Munger

   The Warren Buffett Portfolio: Mastering the Power of the Focus Investment Strategy by Robert Hagstrom
Has actually been recommended by both Munger & Warren Buffett

   Getting to Yes: Negotiating Agreement Without Giving In 
by Roger Fisher & William Ury
Learn how to negotiate and resolve conflict

   Judgment in Managerial Decision Making by Max Bazerman
Learn how to recognize and overcome your biases

   Getting It Done: How to Lead When You're Not In Charge by Roger Fisher
You need an edge in order to reach solutions and effectively work with others

  Deep Simplicity: Bringing Order to Chaos and Complexity by John Gribbin
A look at the study of complex systems

  Only the Paranoid Survive: How to Exploit the Crisis Points That Challenge Every Company by Andrew Grove
Reveals his strategy at Intel

  Andrew Carnegie by Joseph Frazier Wall
Biography of an industrialist genius, philanthropist, and enigma

  Titan: The Life of John D. Rockefeller by Ron Chernow
Story of history's first billionaire

  In The Plex: How Google Thinks, Works, and Shapes Our Lives
by Steven Levy
Recommended at the 2011 Berkshire Hathaway annual meeting

  Barbarians at the Gate: The Fall of RJR Nabisco 
by Bryan Burrough & John Helyar
"One of the finest, most compelling accounts of what happened to corporate America and Wall Street in the 1980's" ~ New York Times Book Review

  Hard Drive: Bill Gates and the Making of the Microsoft Empire
by James Wallace & Jim Erickson
The title says it all

  Conspiracy of Fools: A True Story by Kurt Eichenwald
The mind-boggling story of Enron

  Master of the Game  by Connie Bruck
Biography of a media mogul

  Models of My Life by Herbert Simon
Autobiography of a Nobel laureate looking at whether what he learned as a scientist helps explain other aspects of life

  Fiasco: The Inside Story of a Wall Street Trader by Frank Partnoy
A fascinating (and kind of crazy) look at the derivatives trading industry

  The Wealth and Poverty of Nations by David Landes
Why some nations achieve success and others don't


This isn't a comprehensive list (after all, Munger reads a ton).  But we've tried to focus on the most relevant business/finance books as a good starting point.


Books About Charlie Munger

And if you want to read up on Munger himself, there are a few great books in that regard as well.  Be sure to check out:

Poor Charlie's Almanack Edited by Peter Kaufman

Seeking Wisdom: From Darwin to Munger by Peter Bevelin

Charlie Munger: The Complete Investor by Tren Griffin

Damn Right: Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger
by Janet Lowe



And if you still want even more reading material, head to Seth Klarman's favorite books and Warren Buffett's recommended reading list.  Or, simply check out the right sidebar on the website for picks from other top investors.