Charlie Munger’s net worth is about 1.5 billion and as most people know, he’s Warren Buffett’s vice chairman at Berkshire Hathaway. As we’ve talked about on previous episodes, Munger is really a brilliant individual that’s considered a polymath. Few people know that Charlie is an investor with the Daily Journal Corporation in Los Angeles California. As a result, he does a question and answer period every year at the shareholder meeting. One of our good friends Hari Ramachandra was lucky enough to attend the Daily Journal meeting this year, and while he was there, he captured some of the best responses that Charlie gave.
In this episode, you'll learn:
· What would happen if we all bought index funds
· What the future holds for money managers
· Why it would be delusional to think you understand the future of payment systems.
· Why you need to earn the right to become rich
· Whether you should invest through a partnership or a holding company