Reported 12 months ago
During the 2023 Daily Journal shareholder meeting, Charlie Munger, Berkshire Hathaway's vice chairman, shared his perspective on self-insurance, emphasizing the practicality of self-insuring for those who can afford it. Munger highlighted the waste and fraud often associated with traditional insurance, advocating for more self-insurance in life. Despite Berkshire Hathaway's deep involvement in the insurance industry, Munger maintained his candid stance on self-insurance, urging people to self-insure if they can afford it.
Source: YAHOO