Thanks again to Ben Claremon of inoculatedinvestor.blogspot.com I have the full notes from the recent Wesco meeting.
Wesco might not sound familiar to many people, but its Chairman is Charlie Munger. Wesco is a diversified financial corporation headquartered in Pasadena California. Wesco does business in three major categories; insurance, furniture rental, and steel service.
The company is 80% owned by Warren Buffett and Charlie Munger’s Berkshire Hathaway Group.
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Every year after Munger and Buffett host the Berkshire Hathaway annual meeting, Munger hosts a meeting for Wesco shareholders. Munger answered many questions from curious shareholders on a variety of topics.
There has been recent speculation that Berkshire Hathaway will buy the remaining 20% of Wesco and take the company private.
Without further to due here are the notes from the meeting. Although, Munger does not command the same fame Buffett does, Munger is arguably as good of a manager and investor as Buffett.
If you want to read a great book on Charlie Munger I suggest you check out Poor Charlie’s Almanack: The Wit and Wisdom of Charles T. Munger.
Below are the 12 pages of notes from the conference in PDF form: