Good Morning. He has Risen.
I was reading parts of the Gospel of John early this morning, and once I got away from that, I drifted into my usual habit of reading through old Wesco transcripts with Charlie Munger. One of them I distinctly recall was an investor lamenting increased taxes and seeking Munger’s counsel.
Before Munger answered, he said, “If any of you any here are feeling sorry for yourself because of the taxes you have to pay, you need to give yourselves a good kick in the rear.” The underlying point of what Munger was getting at was this: out of the 7 billion people hanging out on the globe, only a very, very narrow subset of them will ever reach a station in life where they can even contemplate something like investing. If I didn’t win the ovarian lottery and I ended being born in Uganda, you … Read the rest of this article!