It was truly an honor to receive a shout-out by Charlie Munger during the Daily Journal Annual Meeting in Los Angeles on February 14, 2018. Charlie was discussing the fair investment management fee structure of the Buffett Partnerships of the 1950s, which I have enthusiastically cloned for 19 years.
Here is a brief clip from the “Closing Bell” on CNBC that summarized the talk. Kelly Evans mentions Munger’s fee structure comments from 2:40 onwards:
Richard Lewis shared the full transcript of the 2018 Daily Journal Annual Meeting. You can find it here: