This article from Benzinga discusses Charlie Munger's stance on self-insurance, particularly for wealthy individuals. Munger, a renowned investor and business partner of Warren Buffett, believes that wealthy individuals should skip traditional insurance and self-insure, as they can afford to cover their own losses. The article uses the recent devastating wildfires in Los Angeles as a backdrop to illustrate Munger's point, highlighting the potential benefits and drawbacks of self-insurance. 
