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Most people will see declining returns [due to inflation]. One of the great defenses if you're worried about inflation is not to have a lot of silly needs in your life - you don't need a lot of material goods.
Charlie Munger's remarks at the 2004 Berkshire Hathaway Annual Meeting in Omaha, Nebraska, www.tilsonfunds.com. May 1, 2004.
![Most people will see declining returns [due to inflation]. One of the great defenses if you're worried about inflation is not to have a lot of silly needs in your life - you don't need a lot of material goods. - Charlie Munger](https://www.azquotes.com/picture-quotes/quote-most-people-will-see-declining-returns-due-to-inflation-one-of-the-great-defenses-if-charlie-munger-140-97-11.jpg "Most people will see declining returns [due to inflation]. One of the great defenses if you're worried about inflation is not to have a lot of silly needs in your life - you don't need a lot of material goods. - Charlie Munger")
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