February 5, 2012

How One of My Family Members Used Shares of U.S. Bancorp to Build Substantial Wealth

U.S. Bancorp Stock

A member of my close family has been using a technique to build substantial wealth that doesn't require a high income or any specialized knowledge, extra work, or effort.  I was so impressed by the way he implemented this program, I thought I would share it with my other family and friends (as well as anyone else who reads my blog) without giving away who it is. Each month, he has a house payment of approximately $1,500, payable to U.S. Bank.  He decided that instead of making an extra $300 … [Read more...]

The Psychology of Human Misjudgment by Charlie Munger

Charles Munger, Vice Chairman of Berkshire Hathaway

By Charlie Munger (Warren Buffett’s partner at Berkshire Hathaway) Speech at Harvard Law School (1995) Transcription of The Psychology of Human Misjudgment, comments [in brackets] by Whitney Tilson.  Note from Joshua Kennon: I've written a lot about Charlie Munger over the years, especially the influence he has had on my life and how we run my companies by using our own mental models.  This is one of the best speeches Munger ever gave ... which may be why my family owns about a dozen … [Read more...]