Links on Wesco's annual meeting :
Munger Speaks on Berkshire's Success
Notes for Wesco Financial Annual Meeting

Quotes from these :

• Best way to gain wisdom was by "sitting on your (behind) and reading all day."
• It's hard to think of committees that have been successful.
• There is no substitute for a very intense interest.

Also speaks of maximization of objectivity. Had a related discussion on Friday evening with JS. Think that India's most significant hurdle may be getting over patriarchal or feudal mindset towards more objectivity.