Notes from 'The Wealthy Barber' by David Chilton

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Chapter 1 - A Portrait of Charles T. Munger

Charlie learned that by supporting each other, the Mungers weathered the worst economic collapse in the nation’s history.

He has often stated that anyone who wants to be successful should study Physics because its concepts and formulas so beautifully demonstrate the powers of sound theory.

With Nancy’s support, he turned to outside ventures and alternative ways to generate income. However, he never forgot the sound principles taught by his grandfather: to concentrate on the task immediately in front of him and to control spending.

He sharpened his business acumen by handling the negotiations and contracts. In all cases, he left all of his profits in real estate ventures so that bigger and bigger projects became possible.