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InvestingThe Last Liberal Art, Second Edition$
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Robert Hagstrom

Print publication date: 2013

Print ISBN-13: 9780231160100

Published to Columbia Scholarship Online: November 2015

DOI: 10.7312/columbia/9780231160100.001.0001

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PRINTED FROM COLUMBIA SCHOLARSHIP ONLINE (www.columbia.universitypressscholarship.com). (c) Copyright University of Minnesota Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in CUPSO for personal use.date: 28 September 2021

A Latticework of Mental Models

A Latticework of Mental Models

(p.1) 1 A Latticework of Mental Models

Robert G. Hagstrom

Columbia University Press

This book examines how a latticework of mental models can contribute to long-term investment success. Introduced by Charles Munger, vice chairman of Berkshire Hathaway, the latticework of mental models concept lies at the heart of the investing philosophy presented in this book: developing the ability to think of finance and investing as one piece of a unified whole, one segment of a body of knowledge. This introductory chapter also looks at Benjamin Franklin's “habits of mind,” which it considers to be the key to achieving Munger's “worldly wisdom.” Finally, it discusses Edward Thorndike's theory of learning and its relation to a contemporary theory in cognitive science called connectionism. In particular, it explores the importance of connectionism in the development of artificial neural networks and how they can be applied in the investment world.

Keywords:   latticework of mental models, investment, Charles Munger, investing, Benjamin Franklin, habits of mind, Edward Thorndike, theory of learning, connectionism, artificial neural networks

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