Friday, March 14, 2008

Curious

Just a short note since I'm stuck at the airport. The notes from "A Conversation with Charlie Munger" should be available this weekend. As part of the event, Peter Kaufman graciously provided audience members with a copy of the DVD "Curious", a PBS special which profiles some of the research being done at Caltech.

I just finished watching it and it's incredibly interesting, from a scientific viewpoint as well as from a broader viewpoint. There are people in this video that are curing cancer and trying to solve the world's energy needs. That really puts a lot of things in perspective. I may at times think of myself as a reasonably intelligent and ambitious person, but at the end of the day, I'm only endeavoring to turn piles of money into larger piles of money. When you get that call from the doctor, it won't really matter how much money you have. These people are really saving lives and changing the world, and they certainly deserve my respects. I can only hope to support their efforts by properly allocating capital towards useful human enterprise.

For more info:
http://www.thirteen.org/curious/
http://mr.caltech.edu/media/Press_Releases/PR13040.html

4 comments:

Vishal said...

Could u please tell us where the transcript is going to be made available?

Anonymous said...

Great, can hardly wait for the transcript!

Valuebull said...

Are you still planning to share the transcript? Would really appreciate it....

Bud said...

I think you might like my new self-published book. My book, "The Four Filters Invention of Warren Buffett and Charlie Munger" examines each of the basic steps they perform in framing and making an investment decision. Here is a 10 min. audio book summary: http://www.frips.com/4fsummary.mp3

Here is the review that George at valueinvestingnews.com and fatpitchfinancial.com did on my book. I hope that you can write your own impressions and post them for others to read as well.

http://www.valueinvestingnews.com/four-filters-invention-warren-buffett-ch-0

As for my own views, “The Four Filters Invention of Warren Buffett and Charlie Munger” at http://www.frips.com is designed to be the next “Intelligent Investor.” It is a small book at 98 pages, and it concentrates mainly on the sequential process outlined by Warren Buffett. How do the best “frame” their investing decisions? The Four Filters cluster around the important business variables of Products, Customer-Sustainablility, Managers, and Price/Value.

The book also strives to prove that Buffett and Munger invented a Behavioral Finance Formula composed of three qualitative steps and one quantitative step, that is underappreciated by the business and academic communities. In that respect, Buffett and Munger will have a greater long term impact on academics than the Efficient Market Hypothesis.

While my book is concentrated on Munger and Buffett’s approach to framing, this book contains the best of Graham, Carret, Fisher, Buffett and Munger. Read the summary a few times, and you will be motivated and hypnotized into thinking about ways you “frame” your important decisions. This is a subtle peek into sensible and optimal thinking within Behavioral Finance.