| Warren Buffett and Charlie Munger answer a question at the 1994 Berkshire Hathaway Annual Meeting about the positive and negative effects of leverage and business debt. The question is about by a 31 year old Bill Ackman. Ackman is a hedge fund manager and founder of Pershing Square Capital Management who recently sold his stake in Berkshire Hathaway.
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Charles Thomas Munger (born January 1, 1924) is an American investor, businessman, former real estate attorney, architectural designer, and philanthropist. He is vice chairman of Berkshire Hathaway, the conglomerate controlled by Warren Buffett; Buffett has described Munger as his partner. Munger served as chairman of Wesco Financial Corporation from 1984 through 2011. He is also chairman of the Daily Journal Corporation, based in Los Angeles, California, and a director of Costco Wholesale Corporation.
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