Charlie Munger

How Berkshire Hathaway Survived The Financial Crisis

How the world's most prominent investors reacted before, during and after the financial crisis, should, I believe, form part of ever investors' education.

Over these few years, huge fortunes were made and lost, people who looked very clever, suddenly looked very stupid, and people who previously looked stupid suddenly looked very intelligent. Then in the years after, people who looked momentarily very intelligent ended up fading into mediocrity. The crisis even wrongfooted some of the most intelligent, experienced minds on Wall Street.

If . . .

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