Inflation is the angst de jure. Around the world, screaming headlines shout of a cost-of-living crisis and legions of increasingly frazzled politicians and, until recently, relaxed central bankers are scrambling to dampen the din. In a scattergun that smacks more of hope than coherence, the former are cutting indirect taxes, while the latter are raising interest rates. Meanwhile, the clamour for understanding grows louder. Charlie Munger is the long-time business partner of Warren Buffett at Berkshire Hathaway and is also a spectacularly successful investor in his own right. Like his more illustrious partner, Munger regularly shares his insights on investing…

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