A conversation with Charlie Munger at University of Michigan

A recent two-hour long dialogue with Charlie Munger includes many gems of the wisdom and advice of the 87 year old investment guru.

1. Ability can get you to the top. But it is the character that can keep you there.
2. The safest way to get what you want is to deserve what you want.
3. Don't worry too much about macroeconomic issues. Focus on what you can do everyday. In a long life, you will have your fair share of good tide and bad tide.
4. Many human systems have perverse incentives: short-termism, CEO culture, failure of accounting (reporting misleading earnings) etc.
5. Believe energy is the single most important issue and strong advocate solar power.
6. Cynical about philanthropy - Costco contributes more to human civilisation than Rockefeller foundation.