Charlie Munger: "I Got Rich When I Understood This" (Mental Models)

Charlie Munger: "I Got Rich When I Understood This" (Mental Models)

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Billionaire investor Charlie Munger has said on countless occasions he got rich when he finally understood the power of what are referred to as mental models. I have gone through hundreds of hours of Charlie Munger’s interviews and writings to identify the 6 most important mental models that will change your life. Munger is one of the most celebrated investors in the world. As the Vice President of Berkshire Hathaway and Warren Buffett’s right hand man, he has become one of the richest people in the world. But how exactly did he do it? In this video, we are going to discuss the mental models Charlie Munger uses that he attributes to his success. A mental model is how we understand the world. They shape the way we think and understand the world and also how we shape the connections and opportunities we see. Our brains simply cannot remember every single detail of the world, so we use mental models to simplify complex ideas into understandable chunks. Ultimately, helping us make better, and more profitable, decisions.