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Notes from the Final Conversation with Charlie Munger

July 04, 2011 | About:
10qk

Inoculated Investor

17 followers


I surmise that many of you have heard the unfortunate news that last Friday's event at the Pasadena Convention Center will most likely represent the last opportunity for the value investing community to have a semi-intimate conversation with Charlie Munger. Now that Wesco is a part of Berkshire Hathaway (BRK.A) (BRK.B) and given that Charlie is hoping that we will find a new cult hero, those of us who long to hear words of wisdom from Charlie will have to make the trek to Omaha for the Berkshire Annual Meeting.

For those of you who could not make it out to Pasadena this year, I was fortunate enough to attend the event and have compiled my notes. As usual, they were taken in real time without the use of a recording device. Therefore, I cannot promise that I was able to capture everything that Munger said. However, my goal with the notes is to recreate the narrative in a way that both provides context and captures the sentiment of Charlie's remarks. I apologize in advance for any errors or ommisions.

I have embedded a Scribd version of the document to this post to retain the formatting. But, I understand that many people have trouble accessing Scribd for a variety of reasons. As such, I have also created a Google Doc that can be accessed by clicking this link. However, I am also happy to email a PDF copy to anyone who contacts me at inoculatedinvestor@gmail.com.

I apologize in advance for any delay in responding. A new and exciting thing in my life is starting tomorrow and I hope you will stay tuned to my blog for details regarding this endeavor.

Thanks again for following this site and I hope you enjoy the notes.

Sincerely,

Ben Claremon

The Inoculated Investor

Conversation With Charlie Munger

About the author:

Inoculated Investor
GuruFocus - Stock Picks and Market Insight of Gurus

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Comments

Sivaram
Sivaram - 3 years ago
Thanks. You have done a great job with the transcript Ben.

Jose Vasquez
Jose Vasquez - 3 years ago
Great notes, I enjoyed also the ones you took of Berkshires last meetings (2011 and 2010). Much deeper than the short notes you can get by reading the news.

Here is also the document handed out at the meeting regarding the great parody of the recession. I admire the humor, typical Charlie and guts to say what he thinks, you will probably recognize who is Greenspan, Fuld and others:

A PARODY DESCRIBING THE CONTRIBUTIONS OF WANTMORE, TWEAKMORE, TOTALSCUM, COUNTWRONG, AND OBLIVIOUS TO THE TRAGIC “GREAT RECESSION” IN BONEHEADIA AND THE THOUGHTS OF SOME PEOPLE RELATING TO THIS DISASTER

It will be difficult to find another cult hero like Munger.

Cheers!

Juan
itserich
Itserich - 3 years ago
Do you get wood during these intimate meetings?
Rommel Acosta
Rommel Acosta - 3 years ago
Thanks Ben. Good one.

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