Berkshire Hathaway co-chairman and Warren Buffett's sidekick Charlie Munger gave a fantastic two-hour speech at the University of Michigan last week. Here are a few excerpts, lightly edited for clarity.
Text
http://finance.yahoo.com/news/Charlie-Munger-on-Communism-fool-1939650256.html
Video
http://rossmedia.bus.umich.edu/rossmedia/SilverlightPlayer/Default.aspx?peid=4d215177cbe44b1e8e94d0dd68f5058f
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