“To a man with only a hammer, every problem tends to look pretty much like a nail.” -Proverb
1: B. F. Skinner was a renowned Harvard psychology professor.
He “may have been the best-known psychology professor in the world,” Charlie Munger writes in Poor Charlie’s Almanack: The Wit and Wisdom of Charlie Munger.
The reason for his reputation? He proved that “incentives are superpowers” by conducting experiments using … continue reading
1: “I had a friend who carried a thick stack of linen-based cards,” Charlie Munger writes in Poor Charlie’s Almanack. Before his death at 99 in 2023, Charlie was Vice Chairman of Berkshire Hathaway and Warren Buffett‘s business partner.
“When somebody would make a comment that reflected self-pity, he would slowly and portentously pull out his huge stack of cards, take the top one, and hand it to … continue reading
1: Salomon Brothers CEO John Gutfreund was about to get fired.
The year was 1991. A major scandal had rocked the prestigious Wall Street investment bank.
And, it was all so unnecessary, Charlie Munger writes in Poor Charlie’s Almanack.
Charlie should know. He had a front-row seat to all the action as Vice Chairman of Berkshire Hathaway, then Salomon’s largest shareholder.
2: The scandal happened when Salomon’s traders submitted … continue reading
1: What happens when you make it easy for people to cheat?
Charlie Munger had a friend who owned a manufacturing business in Texas.
“He was in a low-margin, tough business,” Charlie writes in Poor Charlie’s Almanack. Charlie, who died in 2023, was Warren Buffett‘s business partner and the former Vice Chairman of Berkshire Hathaway, the first non-technology firm in the U.S. to reach a market capitalization … continue reading
1: Something significant occurred 350 years ago.
When the English arrived in America, they settled in “clumps,” the historian David Hackett Fischer writes in Albion’s Seed, as referenced by David Brooks in his book How to Know a Person.
“People from eastern England tended to settle in New England,” David writes, “people from southern England went to Virginia, people from the English Midlands went to Pennsylvania, and the … continue reading
1: Getting better at getting better is what RiseWithDrew is all about.
Monday through Thursday, we explore ideas from authors, thought leaders, and exemplary organizations.
On Fridays, to begin 2025, I will share some of the wit and wisdom of the late, great Charlie Munger, Warren Buffett‘s business partner and former Vice Chairman of Berkshire Hathaway, who passed away in 2023 at the age of 99.
Charlie developed … continue reading
1: Getting better at getting better is what RiseWithDrew is all about.
Monday through Thursday, we explore ideas from authors, thought leaders, and exemplary organizations. On Friday, I share something about myself or what we are working on at PCI.
This Friday, we continue our search for wisdom as we push to end 2024 on a strong note and start 2025 with a bang.
So, what does our dog … continue reading
