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Charlie's last meeting with his fans at Wesco.

Credits go to Ben at The Inoculated Investor (http://inoculatedinvestor.blogspot.com/2...-with.html)
I have wanted to ask question 21 after reading his book, so disappointed with his answer.
Interesting quote:

Quote:In Greece, they don’t want jobs: they want to sit on their asses as the money comes in. A job is a burden; it wastes 8 hours a day. If he were running the European Union (EU) he would not have let Greece in.

Quote:The failure rate of great empires in terms of geography is 100%. Just look at Athens and Britain today—everyone has passed the baton in due course. However, there is one sense in which these empires are still with us today. What was great about ancient Greece is with us in the world today—it has just moved. You can be confident that the US will not be the most dominantand admired country in the world forever. We may have a longer run than most– we may even have a long run ahead. But, we will eventually fall from the top.

But, the US has had a huge, constructive influence on Asia. Asia is important for the future of the world and many people there have learned from the US’s experiences. Another person who has been a great instructor to the world is Lee Kwan Yew of Singapore. He helped change China. Where did Lee Kwan Yew learn his values? He was educated in England and was English speaking all of his life. As such, a lot of the culture of this room was absorbed by Singapore. If China becomes the greatest nation in the world, some of our best virtues will be a part of that country as well.

When I first started to read Charlie Munger years ago, I can't help but find there are several similarities between him and LKY. They are about the same age, have a sense of history, are realists and are polymaths. So it does not come as a total surprise that CM mentioned LKY.
(17-07-2011, 01:58 PM)touzi Wrote: [ -> ]When I first started to read Charlie Munger years ago, I can't help but find there are several similarities between him and LKY. They are about the same age, have a sense of history, are realists and are polymaths. So it does not come as a total surprise that CM mentioned LKY.

Want some more of Charlie Munger praises over LKY?
http://www.youtube.com/watch?v=pVcKkPflmT8

Charlie Munger warns there are ‘lots of troubles coming’ because of ‘too much wretched excess’
https://www.cnbc.com/2020/02/12/charlie-...xcess.html
Video recording of the 2020 Daily Journal Annual Meeting with Charlie Munger.

https://www.youtube.com/watch?v=Sb0fT1JvqV0

Only 42 views, probably Munger fans are waiting for the transcript.
http://latticeworkinvesting.com/2020/02/...ting-2020/

"Charlie: Well, that’s like asking some ordinary klutz, who’s drunk, if he can’t come up with something like Albert Einstein. It’s just too much. Lee Kuan Yew is the best nation builder that probably ever existed. And what he accomplished in Singapore considering what he started with, it was a miracle. And of course, I don’t know how to create that everywhere. I’m not sure Lee Kuan Yew could have done it if he didn’t have a bunch of fellow Chinese there. I’m not sure that any other ethnic group would have done it."

a side note, i think we're doing a great job handling the covid situation, and the world is recognizing that too. the sg brand lives strong.
CM is probably right, but those who do not understand may wrongly pass him off as a racist.

The reason that the Chinese have succeeded wherever there is a somewhat free market system -- Penang, Malacca, Jakarta, Semarang, Bangkok, Hong Kong, South Korea, Japan, Taiwan, and of course, China -- probably has less to do with physiological factors, and more a result of their values/culture/religion/etc, vis-a-vis the other ethnicities.

It should, however, be emphasised that the Chinese but wouldn't have done as well if they weren't placed in the 'right' economic environment, where their 'right ingredients' could give them an advantage.

The controlled-market experiment of China's yesteryear tells us just as much about the importance of having a conducive economic environment to allow growth.
‘Frozen’ companies are not calling Berkshire Hathaway for rescue investments, Charlie Munger says
https://www.cnbc.com/2020/04/17/frozen-c...-says.html
Charlie Munger Says Fiat Currency Going To Zero "Over 100 Years"
https://www.zerohedge.com/crypto/charlie...al-disease
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