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.