This book is about the fictitious Seeker, who has known a lot of misery, and his visit to the “Library of Wisdom” where he meets another fictitious character – the Librarian- along with Warren Buffett and Charles 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. They do so in the spirit of the anonymous man who said: “All I want to know is where I’m going to die so I’ll never go there.”
Additionally, the book provides examples of pure folly and some lessons on how to make fewer dumb mistakes than other people. And then how to fix mistakes faster, should you make them. The major lesson is “ignorance removal” and the notion that decision-making is not aobut making brilliant decision, but avoiding terrible ones.
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 and Munger. Like Einstein, both have a remarkable ability to eliminate folly and superficiality and get directly to the heart of things.
As with Poor Charlie’s Almanack, Seeking Wisdom and The Most Important Thing, net proceeds from sales of A Few Lessons for Investors and Managers will be donated to charitable, non-profit organizations.
This is also the time of year that I like to go back and re-read the 2007 and 2009 interviews with Peter Bevelin. In the 2009 interview, he briefly mentioned ideas for the book above. So given that he's been compiling this work for some time, I'm especially excited to read the new book. Here's the 2009 excerpt:
I have been reading a lot about the ancients and their wisdom lately. On and off I write on a memo for my children and myself. I call it “THE WISDOM SEEKER: Uncommon Sense from the Ancients to Munger.” It is about a man who wants to become wiser and visits a place I call “The Library of Wisdom.” In the library he meets and learns from wise people like Cicero, Newton, Einstein, Munger, etc. Reading ancient history has reinforced the notion that people’s behavior stays the same. As the saying goes - "Plus ça change, plus c'est la même chose" or the more things change, the more they stay the same - just different actors.A Dozen Things learned from Steve Anderson About Business and Investing (LINK)
Warren Buffett’s Former Heir-Apparent Resurfaces as Activist Investor [H/T Linc] (LINK)
Michael Lewis: ‘Moneyball’ Prequel Arrives December 2016 [H/T Linc] (LINK)
David Hume, the Skeptical Stoic (LINK)