IDP's video: Charlie Munger Lecture: Why Investment Foundations Should Imitate Benjamin Franklin

Charlie’s rare 1998 speech references: Greek philosopher Demosthenes "What a man wishes, he will believe." Bernie Cornfeld Consultants General Motors lollapalooza mistake Long Term Capital Management and high leverage / debt Nobel Laureate Richard Feynman "The first principle is that you must not fool yourself and you’re the easiest person to fool." LBO funds Berkshire Hathaway General Electric /GE Peter Drucker Foreign stocks / investing aboard vs USA / US Diversification Woodruff foundation / Coca-Cola / KO Coca-Cola / KO / Gillette Ben Franklin Index investing / Indexing Charitable foundations IMPORTANT NOTE: This audio is made from written notes of the live lecture in 1998. Notes intrinsically cannot convey tone, may be incomplete, and may be subject to unintentional human error. Although great effort has been made to ensure accuracy and to ensure that the intended meaning is conveyed, the content of this audio recording cannot and must not be relied upon for any purpose whatsoever as containing any definite statement of Mr Munger and no guarantee is made or can be made of its accuracy. There are many unequivocal sources of Mr Munger’s opinions over the years that would be much more suitable to rely upon for any purpose.