The Profile Dossier: Charlie Munger, the Master of Mental Models

Legendary investor Charlie Munger believes that the avoidance of stupidity is more important than the pursuit of excellence. “You have a moral duty to make yourself as un-ignorant and un-stupid as you can,” he says. Munger, often referred to as Warren Buffett’s right-hand man, is the vice chairman of Berkshire Hathaway. He’s known for his sharp, multidisciplinary approach that he uses to solve complex problems. To avoid ignorance and stupidity, Munger is famous for knitting together ideas from a variety of disciplines to create what he calls a “latticework of mental models.” Mental models refer to the frameworks that help us simplify and understand the world. They also help us clarify our thinking and make better decisions. (I’ve written previously about a mental model called Hanlon’s Razor.) “You’ve got to have models in your head,” Munger says. “You may have noticed students who just try to remember and pound back what is remembered. Well, they fail in school and in life. You’ve got

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