Thursday, October 7, 2010

Charlie Munger on communism, botox, and goldbug jerks

As fellow billionaire Warren Buffett's sidekick, when Charlie Munger speaks, people listen.

On investing in gold: I don't have the slightest interest in gold. I like understanding what works and what doesn't in human systems. To me that's not optional; that's a moral obligation. If you're capable of understanding the world, you have a moral obligation to become rational. And I don't see how you become rational hoarding gold. Even if it works, you're a jerk.

I guess I'm a jerk, then.

In closing, here is a quote from Warren Buffett's dad, Howard Buffett.

But when you recall that one of the first moves by Lenin, Mussolini and Hitler was to outlaw individual ownership of gold, you begin to sense that there may be some connection between money, redeemable in gold, and the rare prize known as human liberty.

- Howard Buffett (Warren Buffett’s father and former U.S. Congressman)

I guess Mr. Munger thinks his partner's late dad was also a jerk.

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