Charlie Munger’s Wesco Letters 1983 – 2009
I couldn’t find Charlie Munger’s older Wesco letters anywhere on the internet so I’ve gone ahead and collected them from a database and put all of his letters together into a single document for everyone to enjoy. It goes from 1983 when Charlie took over the chairmanship until 2009, the last letter before Wesco was merged into Berkshire Hathaway.
Charlie is clearly more repetitious than Warren in his letters, but there are definitely gems to be found. The reasoning behind the large investment in Freddie Mac in the 1988 report is particularly interesting and is only presented because Wesco reached the maximum legal limit of ownership in the stock.