I have bought and read nearly every book about Charlie Munger. My conclusion is that 'have a checklist of mental models' is how he says he does what he does. He reasons a lot by analogy to things he's seen or read before, or to ideas in other fields. This does not mean it is the core of his expertise.
The second nuance is that checklisting works better in 'wicked' fields of expertise (I'm using the definition from Hogarth et all, 2015 https://journals.sagepub.com/doi/10.1177/0963721415591878). Stockpicking is one of those. If you are attempting to gain expertise in a field that isn't wicked, well ... good luck improving by having a checklist of mental models.
I've read multiple biographies of Buffett, I've read criticisms of his approach, and I've read Hagstrom's book on Focused Portfolios (which Munger said was the most representative of what they were doing).
I have attempted to emulate Buffett in the past. It is difficult. Hagstrom failed as well, rather publicly, with his mutual funds.
I've begun to see Buffett not as a stock picker, as he hasn't really done such plays over the past decade or so. Rather, he is a capital allocator in the true sense of the word: he buys companies with high FCF, and reinvests the FCF in either stock if he finds an underpriced opportunity, or ownership of private companies if he does not. In the previous decade, he has mostly done the latter, as it has become more and more difficult to generate alpha in the former. He has also been willing to enter into advantageous contracts (warrants, etc) in times of economic turmoil.
I have demonstrated some understanding of the topic.
Now my question to you is this: are you as well read on this as I am? If so, point me to a chapter in one of the biographies and I will self correct.
This is really a very poor and missguided assertion. It's as if the only person worth learning from with regards to how to invest is Warren Buffer, because all those poor miserable bastards who are 1% as successful as Warren Buffet, with their pathetically underperforming $1.2 billion fortunes, certainly can't teach you nothing that will help you improve yourself as an investor. No, no. Either you learn from the guy with a $120B fortune or you are better off doing something else like sitting on your ass browsing Instagram or reading drivel posted on a blog.