This article came from motley fool . . and a link at
the bottom leads to a second article continueing
from the first.
http://www.fool.com/investing/general/2011/07/02/charlie-mungers-thoughts-on-the-world-part-1.aspx
"Most of you know exactly what I think about every subject, but you still come anyway. It's a damn cult."
So began this year's annual meeting with Berkshire Hathaway's (NYSE: BRK-B ) 87-year-old vice-chairman Charlie Munger in Los Angeles. It was, sadly, the last we'll see of these gatherings -- formally the Wesco Financial annual meeting, and this year, simply labeled "A Morning With Charlie."
"You need a new cult hero," Munger said. "I'm doing you all a favor by not having another one of these meetings."
And: On taxes: During the Punic Wars, two-thirds of war debt was repaid before the war was even over. People who paid taxes thought it was the right thing to do. They had a sense of duty and patriotism. I don't like the idea that we can't add new taxes today when faced with such problems. At the same time, people are responding to real frustration. It's hard to be optimistic with current politicians. They just hate each other so much. It's all sound bites designed to please their constituents. Some of you might enjoy this. I don't.
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Zim: On taxes - if the gubberment was really going to
take care of problems responsibly, I wouldn't mind
a short term tax increase to get the bills paid . . .
But when government insists on idiotic self destructive
behavior and the bulk of the tax moneys collected go
to waste and theft . . . . well, I hate sending good
money after bad.
Zim.
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