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Norman Tsai says 14 years ago
Very interesting… and our very own Singapore “Good Father” Minister Mentor Lee Kuan Yew was mentioned too – “Leekwanyou” along side Benjamin Franklin & Paul Volcker.
Good share.
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Charlie Munger’s Parable of Basicland
Charlie Munger is the vice-chairman of Berkshire Hathaway Corporation and long time partner of Warren Buffett.
Usually, Charlie doesn’t say much in public but there are times he does. A couple of days ago, he wrote a parable about how a nation called Basicland went from riches to ruins. He relates our financial markets as one big casino which attracted highly talented engineers.
Charlie gives a pessimistic view on the future of America’s economy. This view is in contrast to the optimistic view of Warren Buffett.
You can read Charlie’s parable here:
Basically, It’s Over – A parable about how one nation came to financial ruin.