All I Want to Know concerns the fictitious Seeker and his visit to the “Library of Wisdom� where he meets another fictitious character, the Librarian, along with Buffett and Munger. The Seeker learns how to make better decisions to help his children avoid doing the dumb things he has done. For instance, he learns from Buffett and Munger the best way to prevent trouble is to avoid it altogether by learning what works and what does not. This is not a book for those who like complexities or advanced math. Rather it’s for those who love efficiency, simplicity and common sense or judgment - hallmarks of Buffett & Munger.
If you can read and understand English, there is no excuse not to read this book.. More wisdom per page than any other book I have read till date. This is THE BEST BOOK I have read till date on life, Business and Investments
Hats off to Peter Bevelin for putting this wonderful book together! This book is really a crash course on life, investing and rational thinking delivered through the timeless wisdom of Charlie Munger, Warren Buffett and countless other great thinkers. If you want to make a collection of great quotes, this book would be the place to start, as it has got thousands of them. What is really appealing about the principles advocated in the book is the simplicity. The book contains guiding philosophy for life, and can be read by anyone (even those not remotely interested in investing).
I’m grateful to the author for compiling such wisdom into an engaging narration. Reading any page(s) from this book is going to help in someway or the other. Highly recommend!
Possibly the best book I will ever read in my life, it is the accumulated wisdom of two of the wisest people of our generation - Warren Buffett and Charlie Munger; and is the ultimate treatise on business, investing and life.
Honestly, there is no reason good enough for not reading this book. A fabulous gift by a teacher to a student!
Guy is broke and dumb. He wants to stop being that way. He goes to a library. In it he meets a Librarian, Warren Buffett and Charlie Munger. They talk for 200 pages to help the seeker become less dumb and broke.
Awesome book. Did a ton of notes. All the dialogues from Munger and Buffett are quotes from various places.
This book is the mix/compilation of quotes from Buffet's and Munger's speeches, letters to shareholders etc made into a story of the Seeker, who dreamed and got into imaginative library with the Librarian and Munger and Buffet.
In general, the book repeats the same content from other books (Poor Charlie Almanac, Seeking Wisdom: From Darwin to Munger) but it is worth to be read again and again: there are some new advices on investing, hiring, decision making, the philosophy of the life.
After reading this book, it is evident that you cannot go more than a few pages without a wonderful statement from Munger/Buffet, or from another visionary of the past. Although the books is filled with great bits of knowledge and the conversation-style writing provides a unique way of pulling together so many unbelievable thoughts, it was frustrating to read. Nonetheless, if you can get past the issues below, you will take away some very good knowledge that can provide a lot of value in business, investing and life in general. I don't believe it's worth a full four-stars, but it is better than three based solely on the knowledge therein.
1) It is clear that this book was not proofread carefully (or at all). The number of misspelled words or incorrect words used throughout is unacceptable in any published work. Even some of the lighter comments used as a Segway to new sections had unnecessary errors "I better take another scope of ice cream".
2) The conversation-style writing was at times both tiring and actually rude. Many comments seemed out of place and actually hindered the readability of the book.
3) There is a lot of repetition and not in the traditional way where one subject would be overly explained in a section and then the author would move onto something else. Although some of these points were worth re-iterating at multiple points throughout the book, many times the quotes seemed forced. Also, there was a lot of repetition in this book (See what I did here? Get ready for more of it).
Overall, the book is worth reading. I just could not recommend it to anyone without the caveats above.
So. Many. Typos. First, I'll say that there is a lot of good content in the book. And the author clearly has done a lot of research and categorization. The approach the author takes is to create two fictional characters - the Seeker and the Librarian - that he uses to connect excerpts and quotes from Buffet and Munger. It's kind of an Eastern approach to telling a story, one which is mildly disruptive in the best case, very disruptive here. Couple this with the thousands of typos that range from small blips to "what does this sentence even mean?" The content would be much better delivered through a Cliff Notes approach; you'd miss nothing and gain quite a bit of time back. I need to go back and find the source that recommended this...
Amazing book. I don’t think I have ever read modern books filled with so many useful ideas (maybe Nassim Taleb) then the ones by Peter Bevelin. Fantastic book!
I my opinion he puts Munger and Buffett on a bit too high of a pedestal because there are areas where they are the worst people to ask advice (Dating, Health, Fitness, real Entrepreneurship (!), Technology). Also they are pretty much polar opposites of someone like Elon Musk in that they don’t think progress but profit from status quo.
Beautiful book. Great conceptualisation on the part of the author. He has been very careful not to dilute or change in any way what Mr Buffett and Mr Munger have said over the years, but instead has added his own insight as well (through the voice of the Librarian). This is a book which talks about how to live life.
Amazing book. Every single paragraph is a wisdom to the life. It covers different aspects of the life (marriage, education, college, ...) as well as business, investment, common sense, etc. This book is not for fast reading since there is so much wisdom and knowledge that you have to seat and think about it.
Masterpiece. For those interested in Charlie Munger this book is great. The central idea is that avoiding stupidity is the easier way to greatness. Many lessons and insights. This book is even better than Seeking Wisdom, also by Peter Bevelin. Enjoyed it.
В одной книге собраны цитаты из интервью и публичных выступлений Уоррена Баффетта и его бизнес-партнера Чарли Мунгера. Автор проделал огромную работу. Он систематизировал и разбил на главные темы около двух тысяч высказываний Баффетта и Мунгера и записал их в форме разговора между ними, воображаемым человеком, который ищет мудрые советы и библиотекарем. Немного странный формат книги. Но главное, что в одном месте собраны все подходы и принципы наших любимых инвесторов
أعتقد أن الكثير من الناس يجعلون الأمور أكثر تعقيدًا مما يحتاجون إليه ، وخاصة بين الأشخاص الذين يعتقدون أنهم أذكياء جدًا ، بحيث يميلون إلى تعقيد الأشياء بشكل مفرط حتى يتمكنوا من إظهار مدى موهبتهم وذكائهم. ولكن في مطاردتهم للمفاهيم الأنيقة ، غالبًا ما يتم تشتيت انتباههم عن الحقائق البسيطة. مثلما قال «فرانسوا دو لا روشفوكولد» : "الرغبة في الظهور بمظهر ذكي غالبًا ما تمنع المرء من أن يكون كذلك". . Peter Bevelin Translated By #Maher_Razouk
This is the first book since Godel Escher Bach which made me take out pen and paper and take notes. This is also the book which I have read at the slowest pace since GEB because it has so much to think about. Highly highly recommended.
This book is a wonderful read learning from two of the greatest investors of the last century. Bevelin does an excellent job making the content digestible and fun to read.
The books� title says it all, but by reading it you will be all the more convinced. Learn what is stupid, avoid stupid, and keep it simple. If you do so, you will do just fine.
I read this following completing Poor Charlie’s Almanac last year and wanting more wisdom from Buffet and Munger. I am astounded that more of my contemporaries in the Mental Health community do not pay attention to what may be described as business psychology. What appear to be good practices for business, appear to be good practices for mental health.
Buffet and Munger repeated identify that the most important financial decision you make is in the choice of a life’s intimate partner. Choose carefully and then have low expectations. Before choosing, ensure you agree on the big points. Don’t marry someone you plan to change; Don’t keep score (Keeping score does not build relationships or organisations. ‘If you want to be happy in marriage, improve yourself as a spouse before you try to improve your spouse’s qualities as a spouse� (p 46). ‘If you want to guarantee yourself a life of misery, marry somebody with the idea of changing them� (p 124).
‘While deals often fail in practice, they never fail in projections� � ‘If a CEO is enthused about a particularly foolish acquisition, both his internal staff and his outside advisors will come up with whatever projections are needed to justify his stance� (p 96). Munger and Buffet hate master plans and reject using these in business. They prefer following general heuristics of wise undertakings and trust in their employees. ‘We have less paperwork and more trust than most places� Most people underestimate the pleasure that comes from trust� Complex bureaucratic procedure does not represent the highest form civilisation can reach. One higher form is a seamless, non-bureaucratic web of deserved trust. Not much fancy procedure, just reliable people correctly trusting one another� (p 99).
Successful companies are not all top down hierarchies, it is more of an interaction between the top and the bottom, that live in the context of the communities they inhabit. Munger gives an example of a company moving to Utah due to better ethics of the employees in regards to workers compensation. The workers in Utah did not try to game the system as they did in California.
The co-corrupting of boards and CEO’s who had the same interests, that may not have been the interests of the shareholders. ‘I’ve never seen a director who needs the money oppose an acquisition or executive compensation� (p 50). Buffet and Munger describe an inability to influence board they were members of or boards of companies that were large share holders of or both. ‘My own behavior, I most ruefully add, frequently fell short as well. Too often I was silent when management made proposals that I judged to be counter to the interests of shareholders� (p 50).
Munger and Buffet both related to God and Religion as mumbo jumbo and are dismissive of it. They seem to have been able to create their own moral foundations.
What follows are some quotes that I thought to be zingers from Buffet and Munger (unless otherwise attributed).
“It is better to try to be consistently not stupid than to be very intelligent� (p 23).
‘My wife and I were happy for twenty years. Then we met� (p 32 � Attributed to Roger Dangerfield).
‘Everything that needs to be said has already been said. But since no one was listening everything must be said again� (p 34 � Attributed to Andre Gide).
‘Real wisdom is not the knowledge of everything, but the knowledge of which things in life are necessary, which are less necessary, and which are completely unnecessary to know� (p 43 � Attributed to Rousseau).
‘More important than the will to win is the will to prepare� � ‘Predicting rain doesn’t count; building the arks does� (p 52).
‘When someone with experience proposes a deal to someone with money, too often the fellow with money ends up with the experience, and the fellow with the experience ends up with the money� (p 56).
‘Those who cannot fill your pockets will confidently fill your ears� Many helpers are apparently direct descendants of the queen in Alice in Wonderland who said “Why sometimes I’ve believed as many as six impossible things before breakfast�. Beware the glib helper who fills your head with fantasies while he fills his pockets with fees� (p 56).
‘The man who discovers how to turn lead into gold isn’t going to give you the secret for $100 a year� (p 57 � Attributed to Peter Tran).
‘Some problems are so complex that you have to be highly intelligent and well informed just to be undecided about them� (p 92 � Attributed to Laurence Peter).
‘Fools try to prove they are right. Wise men try to find when they are wrong� (p 114 - Attributed to Dickson Watts).
‘You couldn’t squeeze a dime between what they already know and what they will never learn� (p 115 � Attributed to Philip Wylie).
‘The essence of science is that it is always willing to abandon a given idea, however fundamental it may seem to be, for a better one� (p 115 � Attributed to H.L. Mencken).
‘He that would live in peace and at ease, must not speak all he knows, nor judge all he sees� (p 127 � Attributed to Benjamin Franklin).
‘The whole problem with the world is that fools and fanatics are always so certain of themselves, but wiser people are full of doubts� (p 130 � Attributed to Bertrand Russell).
‘You have to work hard to get your thinking clean to make it simple� (p 134 � Attributed to Steve Jobs).
‘No matter how great the talent of efforts, some things just take time. You can’t produce a baby in one month by getting nine women pregnant� (p 153).
This book has millions of dollars worth of wisdom if put into practice.
One of the best books I have ever read! Crash course on life, relationships, investing. mental models and rational thinking learnt from Charlie Munger and Warren Buffett. The amount of wisdom and learnings per page is mind blowing. Must read ❤️
Peter bevelin never ceases to surprise us. This book is easily one of the best books in recent times. This is good for both beginner and experts. just loved reading it.
Excellent content. Lots of highlights. Didn’t like reading it.
This is a dialogue between four characters: Munger, Buffett, Librarian, and Seeker. Munger and Buffett’s passages are made entirely of their own past quotes. There are 1,827 cited quotes. They're from annual meetings, annual reports, interviews, speaking events, and other books. The Seeker is Bevelin’s portrayal of you, the reader. You’re there to tee up topics and the next wave of quotes by asking questions. You say natural things like “By the way, what is real friendship?� and “More?�. The Librarian is anything Bevelin wants to add to the topic. Every page feels forced, but how else do you share 1,827 quotes?
This book has the most typos I’ve ever read. Averaging one every other page, maybe. If you’re skeptical, look no further than the first sentence on the book’s back cover. Second place for most typos I’ve seen is Seeking Wisdom, also by Bevelin. You write books about Buffett and Munger! Your publisher can't swing an editor, freelancer, or someone off the street to give these a once-over?
Worth the read if you know what you’re getting into. The variety and sheer collection of Buffett and Munger's advice is amazing. Just categorizing the book's quotes without added dialogue, condensing them down (many passages got repetitive), and getting rid of endless pages of block text would make this a more enjoyable read. My notes have headings like prevention, trust, temperament, etc. If the book was similar, maybe it would be easier to revisit for specific advice.
Part One: On Fatal Mistakes, Prevention, and Simplicity Part Two: On What Doesn’t Work and What Does Part Three: On What Else Doesn’t Work and What Does in Business and Investing Part Four: On Filters and Rules
The content and points contained in this book are undoubtedly great and illuminating; while someone who is familiar with Buffett's and Munger's quotes - especially one who has read books like Seeking Wisdom, Poor Charlie's Almanack and the Berkshire shareholder letters - will not find much that is new, someone who is unfamiliar will definitely find many nuggets of wisdom contained in this book.
However, I thought one should peruse the books I had mentioned above as opposed to this one. The great content of this book is marred by a very contrived dialogue structure that had a very awkward flow. Additionally, this book was especially replete with spelling errors and repetition - flaws that existed in Seeking Wisdom but were seemingly more evident here. Given the large overlap between this book and those I had mentioned, and considering the opportunity cost of time, one will do fine and not lose much by skipping this book and settling for the 3 I had mentioned.
"When someone with experience proposes a deal to someone with money, too often the fellow with money ends up with the experience and the fellow with experience ends up with the money" "If the terrain and the map disagree, follow the terrain" "Appear to interest, not to reason" "If investor think like businessman and if businessman think like an investor" "The early bird might get the worm but the 2nd mouse gets the cheese" The book is full of amazing lines like the ones mentioned above. It covers wisdom in everything from personal life to business life and everything is conveyed in a simple, easy to understand and implement in your life way. This is definitely a must read for anyone no matter an investor or not. This is one book which should be read multiple times.
Bevelin uses four characters - seeker (of wisdom), a librarian (who quotes famous thinkers), Buffett, and Munger - over the course of a 230 page dialogue to parse out many of things Buffett and Munger have said in person. There's a lot of wisdom in here, many of which I had read before, many of which I had not. The theme throughout is hinted at in the title of the book - avoid stupidity consistently and you will make good decisions. I say decisions not investments, because this is not about investing, it is about thoughtful decision-making.
One of the best books ever written about life, general wisdom and investment philosophy. This is a book that everyone should read, over and over again, every year. It teaches you the ethos of two of the wisest people that ever walked the earth - their clarity, simplicity and common sense, condensed into a dialogue-format which makes for easy reading. Highly recommended.
Would have given it 5 stars, if not for the personality-confidence-disorder of Seeker as positioned by the author. Yes, Munger and Buffett are quite wise but to position them as all-knowing gods isn’t necessary to make the point. Overall a good book with golden nuggets to learn from and a recommendation.
Such an excellent book. Sublime and profound. Peter Bevelin has gleaned all the timeless wisdom of two of the most wise men living on the planet. More than investing, the wisdom gathered in the book addresses life in larger perspective. Truly life changing. This book is a treasure trove. Thank you Mr Bevelin for writing it.