Munger Says Wells Fargo CEO Ought to Be in San Francisco
- Berkshire vice chairman also laments influence of index funds
- It’s hard to spend Berkshire’s money, Munger says in interview
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Charles Munger, whose Berkshire Hathaway Inc. and Daily Journal Corp. are shareholders in Wells Fargo & Co., isn’t a fan of the work arrangement set up by the bank’s new chief executive officer.
“That’s outrageous,” Munger, 96, said Wednesday in an interview when asked about Charlie Scharf’s choice to live in New York while running the San Francisco-based lender. “Anybody should move for a big job like that.”