Charlie Munger's Thoughts on Just About Everything

By Morgan Housel

Those who have attended the Berkshire Hathaway (NYSE: BRK-A) shareholder meeting know Charlie Munger as a man who chimes in with "I have nothing to add" to at least three-quarters of questions asked to his longtime business partner, Warren Buffett.
The Wesco Financial -- where Munger is chairman -- shareholder meeting is a completely different story. Free from the overwhelming spotlight cast on Buffett, Munger spends a few hours every year sharing his thoughts and opinions on, well, just about everything.
Below is a summary of my notes from Munger's three-hour meeting in Pasadena, lightly edited for clarity.

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