A conversation with Charlie Munger.
This was published shortly before the famous investor’s recent passing. One excerpt: “Berkshire is pretty extreme in culture. We are deeply aware of how bureaucracies tend to create their own internal dynamics so that everybody protects everybody else and nobody changes anything, ruffles any feathers. And the net result is that a lot of bureaucracies make some very stupid decisions and we try and avoid that. But the way we’ve done it, mostly, is by not having anybody around.” ~ learn more