Charlie Munger is Buffets' "right hand man". Charlie is also 99 years old.
While I certainly admit that living that long causes you to learn a few things along the way, it also causes you to forget much of those.
For that reason, while I probably would read Mr. Munger's advice, I would never base an investment decision on his advice alone.
I also dont base my investment decision on other people's advice, either, as many have a "dog in the fight". Its like asking your car salesman which is the best car? I think I would check consumer reports, Edmunds, Car and driver, as well as people who bought the car's reviews, with the biggest emphasis on previous car owners.
FNMA is "by far" my poorest performing investment to date. I keep it because, Im convinced:
1. Fannie and Freddie cant stay in conservatorship forever.
2. They are highly profitable companies, both before, during and after conscrewtorship.
3. Truthfull lips last forever, but a lie lasts only a moment. We have already seen some lies (government) refuted.
4. When they do exit conservatorship, even if the courts award shareholders nada for all they stole, the companies are strong enough to make money on their own, and eventually pay dividends to shareholders.
5. The 30 year low down fixed interest rate loans is the backbone of our economy. Banks cant/wont do them.
6. If our government succeeds in robbing shareholders it puts "all other" American companies at risk of being taken over (nationalized) by our government, and, that position is "unsustainable". So, it wont matter, because every thing else will go to pot also.
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