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Munger : Sidekick has sage advice of his own

By admin - Posted on May 28th, 2007
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There are two great shareholder meetings in May: the love-in at Omaha at which Warren Buffett, the legendary head of Berkshire Hathaway Inc., entertains and explains his investment philosophy; and a session in Pasadena, Calif., at which Charlie Munger, Buffett's 83-year old sidekick (he is vice-chairman at Berkshire), regales the troops from Wesco Financial Corp., an 80.1%-owned subsidiary of Berkshire Hathaway. Munger is Wesco's chairman.

"Munger's meetings are nearly as legendary in the investment community as those he co-hosts with Buffett in Omaha," says a note on Wikipedia.

Wesco started life as a savings and loan association and now has four major subsidiaries: Wesco-Financial Insurance Co., The Kansas Bankers Surety Co., CORT Business Services, and Precision Steel Warehouse.

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