We’re often told that to succeed, we need to specialize. To become an expert in one narrow domain and dig as deep as we can.

But what if the key to truly profound insight lies in the opposite direction?

This week on Code and Council, we explore the life and mind of a man who was the living embodiment of that counterintuitive idea: the late, great Charlie Munger

.

Many know Munger as Warren Buffett’s indispensable partner—the “abominable no-man” and intellectual architect of modern Berkshire Hathaway. But his true legacy is a revolutionary doctrine for rational thinking that transcends the world of investing.

In this deep-dive episode, we unpack the Munger Doctrine, drawing from his speeches, writings, and his final, remarkably candid interview. We explore:

* The "Lattework of Mental Models": How Munger drew on the big ideas from psychology, physics, biology, and history to make better decisions than the siloed experts.

* The Great Philosophical Shift: How he single-handedly convinced Warren Buffett to abandon "cigar-butt" investing and instead focus on buying "wonderful businesses at fair prices". This was the pivotal change that made Berkshire the compounding machine it is today.

* A Masterclass in Applied Psychology: We break down his iconic investments, from the brand power of See's Candies and the "Lollapalooza Effect" of

Coca-Cola to his contrarian, crisis-era bets on banks like

Wells Fargo.

* Betting on Genius and Humility: The story of his "venture capital" style bet on Chinese EV maker BYD, which was a wager on a single, irreplaceable founder , and the instructive mistake he made with

Alibaba—a lesson in his own fallibility.

* The Apex Investment: A detailed look at why he called Costco the "ultimate wonderful business" and held its stock with unwavering conviction for 26 years, even when Buffett sold.

* A Philosophy for Life: Beyond the billions, we delve into his personal philosophy of "soldiering through" hardship, the moral duty to become wiser every day, and why avoiding stupidity is more important than seeking brilliance.

This episode is more than a recap of a legendary investor's career. It’s an exploration of a timeless framework for clear thinking and effective action. It’s about learning to see the world not as a collection of separate subjects, but as a complex, interconnected system.

Join us for a journey into one of the sharpest minds of the last century.Background Music:https://www.youtube.com/watch?v=Q6CRmIXcrxw&list=PLfP6i5T0-DkIA0Bny2MV8lEF2rTI2TzdF&index=5Sources PoorCharliesAlmanackGemini 2.5 Pro bnh.bank

Here's to Your Wealth – The Life and Legacy of Charlie Munger, Investing Maverick

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youtube.com

Charlie Munger: Chinese Automobile Manufacturer BYD - YouTube

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financemagnates.com

Charlie Munger's Final Stock Portfolio Unveiled

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timeline.co

Six Lessons on Investing from Charlie Munger - Timeline

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cabotwealth.com

Remembering Charlie Munger, Investing Legend - Cabot Wealth Network

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reddit.com

Was Charlie Munger Really That Good of An Investor? : r/ValueInvesting - Reddit

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leelynsmith.com

Charlie Munger's timeless lessons for investors - Leelyn Smith

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silverlightinvest.com

Charlie Munger's Most Important Investing Lesson - Silverlight Asset Management, LLC

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stockcircle.com

Charlie Munger: 2 Wells Fargo transactions (Daily Journal / WFC) - Stockcircle

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247wallst.com

Costco Stock, a Long-Time Charlie Munger Favorite, is Worth Buying in Bulk After Earnings

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247wallst.com

The Late Billionaire Charlie Munger's 'Other' Firm Has 97% of Its Investments in These 3 Stocks

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reddit.com

Charlie Munger often praises Costco, what's a fair valuation for the stock? - Reddit

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financhill.com

Why Did Charlie Munger Love Costco - Financhill

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sn.einvestingforbeginners.com

Nuggets: The Extraordinary Life of Charlie Munger

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sbo.financial

Buffett's sweetest acquisition: A financial teardown of See's Candies | SBO

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sees.com

The Extended Family - See's Candies

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fs.blog

Turning $2 Million Into $2 Trillion - Farnam Street

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investopedia.com

Charlie Munger: Life, Berkshire Hathaway, Investments - Investopedia

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wealthyretirement.com

Charlie Munger and One of the Best Investments of All Time

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quartr.com

Tasting Quality: Berkshire's Defining Bet on See's Candies - Quartr

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en.wikipedia.org

Wesco Financial - Wikipedia

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granitefirm.com

Key points from Munger Wesco's 24 years of shareholder meetings - Andy Lin's Long-term Stock Investment Blog

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pipeline.capital

Person of the month: Charlie Munger - Pipeline Capital

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nik.art

Charlie Munger's “How To Start Coca Cola in 1884” Thought Experiment | nik.art

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fool.com

Charlie Munger's Investment Strategy | The Motley Fool

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morningstar.com.au

Charlie Munger: What makes him a great investor - Morningstar Australia

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marketrebellion.com

Charlie Munger's Top 4 “All-In” Stocks — Munger's Final Investments - Market Rebellion

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investorplace.com

In Memory of a Legend: 7 Stocks That Charlie Munger Loved | InvestorPlace

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nasdaq.com

Meet BYD Chief Wang Chuanfu, Who Charlie Munger Said Is 'Better At Actually Making Things' Than Tesla CEO Elon Musk | Nasdaq

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moomoo.com

An Overview of Charlie Munger's Classic Investment Cases - moomoo Community

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medium.com

Charlie Munger On How To Build a $2 Trillion Startup | by Dan Shipper | Medium

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barchart.com

Which Was Charlie Munger's Best Bet: Berkshire Hathaway Or Costco? - Barchart.com

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youtube.com

Charlie Munger: Berkshire's Investment in the Coca-Cola Stock - YouTube

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nasdaq.com

Which Was Charlie Munger's Best Bet: Berkshire Hathaway or Costco? - Nasdaq

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youtube.com

Charlie Munger and Costco: A look at why he was a big fan of the giant retailer - YouTube

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financhill.com

How Costco Became Charlie Munger's $100 Million Personal Bet - Financhill

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hedgefundalpha.com

Charlie Munger Portfolio Performance: Analyzing Strategies For His Success

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hedgefundalpha.com

Charlie Munger And The Power Of Costco - Hedge Fund Alpha

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en.wikipedia.org

Charlie Munger - Wikipedia

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dailyjournal.com

Charles T. Munger, 1924 - 2023 - Daily Journal

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