Charlie Munger Witty Quotes From Berkshire 2014 Annual Meeting

Charlie Munger is one my favorite investors/ comedians. His wry humor is full of not only wit but wisdom. To that end, as an investor, I think it's worth learning from him, and I have posted here some of my favorite quotes of his from the Berkshire Annual meeting 2014. 

On pay for corporate directors:
"You start paying directors of corporations two or three hundred thousand dollars a year, it creates a daisy chain of reciprocity where they keep raising the CEO and he keeps recommending more pay for the directors." 

Munger, who's net worth is about 1 billion dollars as a result of his stake in Berkshire, and both himself and Buffett get a salary of $100,000 from Berkshire Hathaway, a payrate which has remained the same for the last 25 years ...
On pay for CEO's and work habits:
Does the Supreme Court work less hard because they don't get paid like corporate executives? We have some corporate directors who draw more pay than members of the Supreme Court. That's crazy," 

The next bit is interesting as Munger operates much further right than counterpart Buffett:
On taxing the 1%:
"The taxes on wealth were much higher when I was much younger. So for somebody of my age, I don't think they're ruining the world because I've lived through way more punitive taxes on the rich than we have now ...
I don't think everybody who's been especially favored should take the last dollar that he or she should get. I think we all have an obligation to dampen these fires of envy."

On Facebook and it's appeal to the young:
"It just doesn't interest me at all to gab all the time on the Internet with people and I certainly hate the idea of young people putting in permanent form the dumbest thoughts and the dumbest reports of action that you can ever imagine." 
On his favorite advance in technology:
"I'm in love with the Xerox machine," he said.
Haha, a little outdated but freaking funny. 
On Clippers, as I write this at least, current owner Donald Sterling:"He's a peculiar man. He's past 80. His girlfriend has had so many facelifts she practically can't smile. This is not the noblest ideal of what the American businessman should be."
So, there you have some of this year's wit from wise/man, comedian, and investing genius, Charlie Munger. Almost impossible not to like this man. 


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