📰 ET Markets ⚪ NEUTRAL 🕒 29 Oct 2026, 09:59 AM IST

Charlie Munger skipped insurance on his mansion, said all intelligent people ‘do it my way’. What did he mean?

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Core Development: Charlie Munger skipped insurance on his mansion, said all intelligent people ‘do it my way’. What did he mean?

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Market & Financial Impact: During a recent shareholder meeting, Charlie Munger shared his reasoning behind opting out of fire insurance for his mansion. He argued that self-insurance is a more prudent choice for manageable risks, suggesting that smart individuals should avoid unnecessary premium payments. Highlighting potential waste in insurance purchases, including issues like fraud, Munger's insights advocate for practical spending and disciplined investment practices to achieve financial prosperity.

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Official Publisher Attribution: This report is aggregated from Economic Times. ZeroLive provides live aggregation, automated sentiment synthesis, and exchange disclosure monitoring for retail market participants.

Read Original Full Coverage on Economic Times ↗

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Charlie Munger skipped insurance on his mansion, said all intelligent people ‘do it my way’. What did he mean?

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