Posted by on May 5, 2019 in Articles & Advice, Blog, Featured |

Image Credit: Carol Highsmith, “1880 Town, Murdo, South Dakota” (2009), Library of Congress


Rachel Louise Ensign and Jason Zweig | Updated May 3, 2019 11:22 a.m. ET


Berkshire Hathaway Inc. Vice Chairman Charlie Munger thinks Timothy Sloan should still be running Wells Fargo & Co.

In an interview with The Wall Street Journal, Mr. Munger blamed Mr. Sloan’s predecessors for the string of scandals that have badly damaged the bank’s reputation. Berkshire, which holds its festival-like annual meeting Saturday, is Wells Fargo’s largest shareholder.

“He’s a very good bank lender,” Mr. Munger said of Mr. Sloan, who stepped down in March. “All these banks are using the government’s credit to get the money, and all of them will tend to make stupid loans. So when you get a good lender, that’s the last person you want to throw out. I would have kept Sloan, myself, but nobody asked me.”...



To read the rest of the article:




For further reading:


Peter D. Kaufman (ed.), Poor Charlie’s Almanack: The Wit and Wisdom of Charles T. Munger

Janet Lowe, Damn Right!

Benjamin Graham, The Intelligent Investor

Jason Zweig, The Devil’s Financial Dictionary

Jason Zweig, Your Money and Your Brain

Jason Zweig, The Little Book of Safe Money

Articles and other research:

Buffett Partner Charlie Munger Has a Side Gig: Designing College Dorms

A Fireside Chat With Charlie Munger

Charles Munger: Secrets of Buffett’s Success?

When Charlie Munger Calls, Listen and Learn

Charlie Munger: Lessons From an Investing Giant