Charlie Munger warned that a mega-mansion can make you 'less happy'—and he lived in the same relatively modest house for seven decades

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Charlie Munger, who passed away this week at age 99, could have afforded a mega-mansion—or several of them. Instead, the billionaire investor stayed put in the same relatively modest home in Los Angeles for seven decades.

One reason, explained the longtime business partner to Warren Buffett, was that extravagant homes don’t really make people happier.