MICHEL PIREU: Life hacks and money knacks from an ingenious investor
Berkshire Hathaway chair Charles Munger shares his tips for achieving wealth and happiness
Charles Thomas Munger (born January 1 1924) is an American investor, businessman and philanthropist perhaps best known as vice-chair of Berkshire Hathaway. He is also known as a font of no-nonsense, earthy wisdom when it comes to investing, as illustrated below. On money management “It’s natural that you’d have more brains going into money management. There are so many huge incomes in money management and investment banking — it’s like ants to sugar. There are huge incentives for a man to take up money management as opposed to, say, physics, and it’s a lot easier. “I think it’s inevitable but terrible — a disaster for the wider civilisation. That I profited from being shrewd with money is not by itself satisfying to me. To atone, I teach and try to set an example. I would hate it if the example of my life caused people to pursue the passive ownership of pieces of paper. “I think lives so spent are disastrous lives. I think it’s a better career if you help build something. I wish I’d...
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