Charlie Munger 1994 Speech: “A Lesson on Elementary, Worldly Wisdom As It Relates To Investment Management & Business”

I'm going to play a minor trick on you today - because the subject of my talk is the art of stock picking as a subdivision of the art of worldly wisdom. That enables me to start talking about worldly wisdom - a much broader topic that interests me because I think all too little of it is delivered by modern educational systems, at least in an effective way.