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No. of Recommendations: 57
While at the Berkshire annual meeting, I picked up the “Expanded Second Edition” of “Poor Charlie's Almanack”. While purchasing the book, I perused through and recognized that much of the book was the same as the first edition. However, being a Buffett/Munger “nut”, I figured I had to get the book.

I just had a chance to more closely compare the two editions. I thought I'd report on what I found new/different with the second edition. Largely there were three significant additions. First, there is a new 12-page section titled “Praising Old Age”. This could more-or-less be viewed as an additional talk by Charlie. The section was inspired by the written work of Roman author, orator, and politician, Marcus Cicero. Of all things, it was translated from Latin to English originally by Benjamin Franklin! Charlie states that he practically went into orbit upon seeing a work by Cicero that he could not recall ever having heard of (until friends gave it to him in early 2006), full of praise for old age.

The “Praising Old Age” section is worth the $50 book cost for those of us that travel half-way across the United States to hear Warren and Charlie in person. Cicero, Franklin and Munger obviously all come from the same tree. They all believed in self-improvement to their last breath. The section concludes with a 2005 picture of Charlie fishing on the Sacramento River with a Charlie quote, “The best Armour of Old Age is a well-spent life preceding it.”

The second significant addition is Charlie “revisiting” the ten talks at the end of the book. For most of the talks, Charlie provided current reflections and updates on his talks upon re-reading them. New supporting books and references were occasionally supplied. In several cases you could see how timeless the talks are, because 5-20 years after giving them, Charlie stated he would not change a word.

However, the changes to “Talk Ten” is the third significant addition to the second edition. This is by the far the longest “talk”, consisting of 57 no-picture pages. The title of the talk is “The Psychology of Human Misjudgment”. The subtitle is “Selections from three of Charlie's talks, combined into one talk never made, after revisions by Charlie in 2005 that included considerable new material.” More than any other field, I think Charlie has been fascinated by practical psychology. I was once told by Robert Cialdini that Charlie asked Cialdini to “ghost write” a book on the subject with him. Cialdini stated he politely declined (and offered to help Charlie find other another author), but as far as Cialdini knew nothing came of it. I think we're now getting that book in this second edition.

Finally, sprinkled through out the second edition, you'll find additional quotations, many of which are Warren Buffett's. Also, some of the pictures were changed, but not in a way that changed what was originally conveyed.

In reviewing the two editions, I was once again struck by a couple of things. First, the book is just beautiful. I don't know the editor Peter Kaufman very well (I met him for the first time at the recent Wesco meeting), but I know he is the CEO of an electrical connectors company. He is obviously multi-talented to be able to also compile such an attractive book. Second, the book makes many, many references to great books and people in history. When I read Robert Hagstrom's book “Latticework” some years ago, I was intrigued when he mentioned the Great Books Program at St. John's College (New Mexico) where undergrads were taught in a multi-disciplinary way by reading and discussing great books. Similarly, you'd be a very wise man if you read all the books referenced in Poor Charlie's Almanack.

Poor Charlie's Almanack is one of those books that's a must re-read every couple of years. My suggestion is if you're going to re-read it, you might as well go ahead and read the second edition—it'll make it just that much more fun.

RoughlyRight
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When I read Robert Hagstrom's book “Latticework” some years ago, I was intrigued when he mentioned the Great Books Program at St. John's College (New Mexico) where undergrads were taught in a multi-disciplinary way by reading and discussing great books.

St John's College is located in Annapolis, MD. The Santa Fe Institute, which Hagstrom also refers to in Latticework, is based in Santa Fe, NM.

AlexD
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Would someone please save me some time and post information on how to obtain this book?

Thanks and regards,
RL
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You can order the second edition herehttp://www.poorcharliesalmanack.com/index.html
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St John's College is located in Annapolis, MD.

St. John's College also has a Santa Fe, New Mexico, campus.

http://www.stjohnscollege.edu/asp/home.aspx
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I purchased a signed copy of book thru that web site figuring the proceeds would benefit one of Charlies charities.(As opposed to buying the book at the Berkie Bookseller and having Charlie sign it at Wesco for considerablly less money)
Book #1 arrrived signed but ruined by the rain as it was not wrapped in plastic ala amazon.
Book # 2 just arrived dry but unsigned.

Rather frustrating as you might imagine...
Ish
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St John's College is located in Annapolis, MD.

St. John's College also has a Santa Fe, New Mexico, campus.

http://www.stjohnscollege.edu/asp/home.aspx


TaoFelix,

Very interesting, I wasn't aware of that. What a great place to study the Great Books!

Thanks,

AlexD
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What the **** was Cialdini thinking????????
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<<
I purchased a signed copy of book thru that web site figuring the proceeds would benefit one of Charlies charities.(
>>

Is that really hand-signed by Charlie? or by signature stamp?
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Is that really hand-signed by Charlie? or by signature stamp?

My first edition was hand-signed in black marker: "Charlie Munger".

N2it
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I am another sucker that purchased the second edition. So far I have read the old age thing and Talk Three again. Both were signed by Charlie at the Wesco meeting where I bought them. He looked a lot better to me this year, and even joked around with me a little.
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I purchased a signed copy of book thru that web site figuring the proceeds would benefit one of Charlies charities.(As opposed to buying the book at the Berkie Bookseller and having Charlie sign it at Wesco for considerablly less money)
Book #1 arrrived signed but ruined by the rain as it was not wrapped in plastic ala amazon.
Book # 2 just arrived dry but unsigned.

Rather frustrating as you might imagine...
Ish


As a result of this post I was contacted by a senior member of the "Poor Charlies" organization. They have graciously offered to correct the situation to my complete satisfaction.
This is very much a first class group of people and I would highly reccomend the site.
Cheers
Ish

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While I haven't seen the second edition of Charlie's Almanac, if Franklin is credited with having translated Cicero's "Cato Major, or His Discourse on Old Age," that would be incorrect. The translation was actually done by James Logan, a classicist (who had come over to Pennsylvania as secretary to William Penn). Franklin published it in 1744 and considered it among his finest printings. The original may be seen at the Library Company of Philadelphia, www.librarycompany.org.

Your humble servant, &c.

car2sh
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While I haven't seen the second edition of Charlie's Almanac, if Franklin is credited with having translated Cicero's "Cato Major, or His Discourse on Old Age," that would be incorrect. The translation was actually done by James Logan, a classicist (who had come over to Pennsylvania as secretary to William Penn). Franklin published it in 1744 and considered it among his finest printings. The original may be seen at the Library Company of Philadelphia, www.librarycompany.org.

Your humble servant, &c.

car2sh



I believe any misrepresentation is my error. Poor Charlie's Almanack states, "In 1744, Ben Franklin was still a relatively unknown tradesman engaged in printing in Philadelphia. At that time, he published, as a non-commercial labor of love, a book containing the first American translation from Latin into English of Cicero's de Senectute. Cicero had written this work, praising old age, in roughly the sixtieth year of his life.

I first heard of this book in 2006 when I received from my friends, Angus and Lucy McBain, an exact reprint of Franklin's 1744 translation.”

RR



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RR: "Poor Charlie's Almanack states, 'In 1744, Ben Franklin was still a relatively unknown tradesman engaged in printing in Philadelphia.'"

"relatively unknown" is a relative term. Among many other accomlishments, Franklin had already founded the Library Compnay, in 1731, and the American Philosophical Society, in 1743.
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