Charlie Munger, the vice chairman of Berkshire Hathaway, believes that it is not necessary to diversify your investments too much and that having four good assets is enough.
He warns that there may be trouble ahead due to excessive money printing by governments, which could lead to inflation and economic difficulties.
He points out that Japan has printed a lot of money but has not had terrible consequences, although it has experienced stasis in living standards.
Munger notes that Japan's mono-ethnic culture has allowed it to cope better with difficulties than countries with more diverse populations, like the United States.
Overall, he thinks the situation is unpredictable, and we are closer to terrible trouble than we've been in the past, but it may still be a long way off.
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Charlie Munger is an American businessman, investor, and philanthropist, who is best known as the vice chairman of Berkshire Hathaway, a conglomerate holding company led by Warren Buffett. Munger and Buffett are longtime friends and business partners, and Munger is often referred to as Buffett's right-hand man.
Munger was born in 1924 in Omaha, Nebraska, and started his career as a lawyer before transitioning into investing. He joined Berkshire Hathaway in 1965 and has since played a key role in the company's success, helping to shape its investment philosophy and serving on the board of directors.
Munger is known for his sharp wit, straightforward communication style, and wide-ranging interests. He is a voracious reader and is known for his deep understanding of many fields, including psychology, economics, and history. He is also a noted philanthropist, having given generously to a variety of causes over the years.
Munger is often quoted for his insightful and pithy remarks on investing and life in general and is widely regarded as one of the most successful and respected investors of his generation.
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