#CharlieMunger #CharlieMungerBerkshireHathaway #DailyJournal
Charlie Munger, Chairman of the Daily Journal and Vice Chairman of Berkshire Hathaway, sat down with Yahoo Finance Editor-In-Chief Andy Serwer for an exclusive wide-ranging interview on inflation, cryptocurrency, and the tech sector.
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CM-“I see a total collapse of the economy and society within a hundred years”
AS-“do you think that’s anything that investors should worry about?”
Haha yea, People hear what they want to hear not what they hear.
@Ben my bad. Here I fixed it.
“[inflation] is the biggest danger we face apart from nuclear war”
“Is it something that investors need to worry about, specifically for growth stocks right now?”
“I think the safe assumption is that over the next 100 years the currency is going to go to zero. That is my working hypothesis”
he said currency is going to zero which is obvious, all currencies that aren’t backed by anything go to zero. Hopefully we reform the monetary system before that happens, I hope we back the new currency with gold again because gold can never go to zero.
🤣
This is where Charlie Munger fails. Modern information. Bitcoin is more traceable than the dollar. It’s the easiest way to catch criminals. Monero however is untraceable. The dollar is a slave instrument used by the likes of Charlie and other elites FIRST and than it loses purchasing power by the time the velocity of that money hits the masses.. i.e. Cantillion effect. Charlie as wise as he is still doesnt understand Bitcoin.
The success of bitcoin? hmmm , Yahoo declared it as a winner.
God sake. A lot of these questions are just short-sighted and bad.
I hope Saylor bought some of that Dirty Ransom Crypto from the past.. and the FBI TAKES IT!! BWAHAHAHA!
He got Rich from CCP.. and supports their slave work force!
I believe < that the inflation is already priced in crypto market since the end of last year. These manipulative rats are always 2 steps ahead of everybody because they are market makers. I hope I’m wrong and they won’t keep dumping it on retail investors as always. Those who hold the longest will profit the most, I trade and hold profits keep up the great work! and also Seth Leonard has been doing a great job reviewing all chart, trade and techniques on BTC which has enhance the growth of my portfolio from 1.74BTC to 8.9 BTC lately.
I invested with Leonard too, He understands every beginners intention and fix you to a trading plan that matches your capacity.
I don’t know if charlie is on the mark about bobby kotick
Somebody needs to explain to the interviewer the difference between open and closed questions.
Andy Serwer did a terrible job trying to guess when Munger had finished speaking and interrupted him with practically every question. When Serwer thinks Munger has finished answering, Serwer should count another 5 seconds.
the lag between them didn’t help either
We don’t trust the government
I still think his almost enthusiasm for China is strange. Im not one to bash China, but since he warns of Hitler Germany, how is he handling this disconnect?
I think the phrase “benevolent dictator” is most informative here. On the axis from perfectly evil dictatorship to a perfectly benevolent one, you’ll have the likes of Hitler and his policies far on the evil end and the likes of Lee Kuan Yew and many of his policies more toward the benevolent end. Now every individual policy or action by a dictatorship should be able to be placed somewhere on this axis, then the question becomes – is this particular policy or action by the Chinese government falling more on the evil or the benevolent side. I think Charlie sees several of these actions by the Chinese as being more on the benevolent side while others are clearly not which he would comdemn. I’m not sure if he’s right but then again I have nowhere near his experience with China.
Maybe one can first question the validity of the assumption that China’s current government is similar to Hitler Germany.
Like a Boss. Charly is the man
Still brilliant
If he thinks all currencies are going to zero, then businesses are also worth 0 if they are denominated by the dollar. There’s so much unreasonable pessism, what kind of investment advice is this?? Crypto, commodities, property, debt, food, labor, and real assets are the only things you could look at with that perspective. But he just says it’s all going down. So do I need… guns, a fort, supplies, and security, for dystopia lol wtf.
In the event of a depression. Yes. Guns food supplies drugs tobacco will be the right means of investment. Keep in mind the government will keep everything in bail out mode until they can’t bail out no more because their dollar has zero value. As for investing. Noone really knows. What do you invest in when everything is in the biggest bubble of mankind. Good luck and keep working. All you can do really
And what I got out of it. Was more of a hint of the seriousness of the issue rather than investment advice. But he’s old. He has seen WW1 WW2. He grew up in the depression. Something we’ve never seen
And if you want my opinion. I think they kept real estate propped since 2008 because it’s the only jobs left. When real estate collapses. It all collapses. We my friend. Are not headed into fun times
This interview is hard to watch. With great respect for his career, I think it’s time for the old man to retire.
Invest in China more $GOTU stock. especially Chinese education. Great value!
Oh my God!! Did no one pay attention?? When asked about the super rich even becoming richer and the wealth Gap becoming larger and if he was concerned his only response was greed isn’t the problem envy is!! Does that not concern or shock anyone?!?!? Greed is absolutely the problem not envy. The middle and lower class are not envying the super Rich they are simply trying to have a roof over their family’s head and food in their stomach. How far removed is he from reality and the rest of you for that fact! Ignoring this wealth Gap is why the country is spinning out of control. We don’t have a race inequality we have a wealth inequality! holy sh”t you people are crazy!!
D-bag
It won’t take 100 years for fiat to go to zero, BTC will speed up the process and that’s why this man hates it!!!
No pending transaction dealing with ☝️☝️☝️they’re highly intelligent😄😤
Can we get a straight answer out of Charlie? No.
❤💙
Great insider trading on activision Charlie.
Sure. Berkshire will risk ruining its reputation that is being constructed for decades for a $1 billion buy that will generate peanuts for Berkshire if you compare with its assets.
@G. Man, the truth really bothered you
@G. Almost all BH investments are based on insider information. You are a fool if you believe there is a level playing field.
“Tech is here to stay” but also crypto is bad. Bless his heart. He did great things.
He recognizes the problem but doesn’t yet realize Bitcoin is the solution
I used to be a crypto cult believer and thought Munger and Buffet were wrong, today I agree with them.
Once I dumped all my crypto I realized its nothing, no value, and the market as a whole is inflating faster than the dollar with over 16,000 cryptocurrencies created in 2021 alone.
infrastructure is indeed valuable ngmi
I didn’t know E.T. was an investor
why he invested in BaBa not the Chinese ticker 9988 ?
The gap of the Rich and poor is b/c the poor are envy of those who have more ???!! The full of this bastard ! People like this man are why the middle class is shrinking, disgusting!
This old guy is crazy.
This guy is a tool 100%. He is a part of the reset.
What an arrogant little man.
“Gaming is here to stay” and “tech is here to stay”. I’m glad a 98 year old man is here to give us insights most people realized decades ago. Maybe next time he’ll tell us he thinks that horseless carriage thing might catch on.
It’s crazy how many people listened to this old man ramble about nothing and still commented, “He’s a genius”
😂😂😂
Charlie says he understands crypto but he obviously doesn’t as he calls Bitcoin untraceable 😂🤦🏻
I just read an article about how 40 million worth of stolen bitcoin was recovered
Did he actually say that taxes correcting extreme wealth imbalance demonstrate that poorer people are envious? No, taxes keep the system functioning. Noone buys your ice cream and other junk food if they literally can’t afford it.
So protests are bad? People questioning potential government over reach is bad? Jesus, this guy is completely divorced from the average American’s life experience. Oh wait, I forgot, we’re just ignorant and envious.
Insider trading is so blatant in the US, regulators don’t even acknowledge when the richest people in the world partake. Hell, the regulators are in on the “bonanza”. What a country!
People prefer to listen to the Cathy wood of the world or the youtubers pumping money losing companies, rather than the successful Charlie Munger, Buffer or Peter Lynch etc. In fact, they are not trying to be rich, they are trying to pick a winner and brag about how they were right. There is a science to investing (picking stock, risk management) and investors have been applying these rules centuries before Charlie Munger. There is no such stupid concept than “disruptive innovation”. Not a single company in the world succeed without innovation. The greatest innovations end up being used by everyone for free. Look at the internet. We will all be on the blockchain a decade from now and it will get cheaper and cheaper. The line of codes written tomorrow will be more valuable than the one we see today. 100% certain the lines of code we have today will be worth zero at some point in the future.
Just once Charlie just once talk smart surprise me, please
I found the tone of Andy Serwer pretty uneducated and disrespectful. particularly when interviewing one of the most successful investors of all time. He’s getting old but still runs rings around you Andy…
He is big ball of pure copper covered with thin layer of 9 carat gold.
Money hoarder telling us that the tension between the top 1% and everyone else is because of envy. Not injustice… But envy… Wow. That’s gaslighting folks.
The oldest living crook~ and his buddy Buffet just pulled off the biggest Scam~ in history with their buddy Bill~ Gates~watch how they try to keep a straight face while telling lies to millions of people on youtube~ ~PATHETIC~
Satoshi nakamoto hates this guy man. Michael saylor yelling in front of his damn tel phone screen.
Charlie ‘we r all going to die’ Munger
Haha
Our world has 3 fundamental practices that are problematic.
If we dont understand the root causes of a problem we will address the symptoms or the actors, not the causes.
The 1st is that large private and Central banks have obtained the Exclusive franchise to create ALL new Currency as Debt, with interest attached.
An increasing population needs an increasing currency, but it is all created as a debt bearing interest.
This indebts the whole world, every person, every government, in totally unpayable debts, enslaving us all to bankers through personal debt or ever increasing excessive taxation, surcharges, permits, licences, registrations, regulations, fees, rates, duties, fines, levies, adinfinitum, of which an increasing volume goes straight to the debt creators, who created it for free. (At zero cost to themselves.)
2nd. Virtually no limitation plus fractional banking allows banks to create massive new Currency, blowing massive bubbles (housing/stocks) which devalues everyone’s savings and work by raising all prices.
The fix ?
Stop all banks and financial institutions loaning out more than they have on deposit. Return legal currency creation to national treasury departments with a zero Inflation policy.
This will not create inflation like some bankers/economists would like to have you think. It is not WHO creates currency that drives the constant devaluation of your money & work, it is THE VOLUME per population and productivity.
The banks increased the base currency supply by over 45 % since March 2020. This is further multiplied by fractional banking. You can’t spend it off planet, and we’ve had no increase in population or productivity. How can it not devalue our savings, wages and retirement funds by around 50% as it enters the economy ?
3rd. Fiat currency whether paper or digital has no intrinsic value, thus it cannot be used as a long term store of value, particularly in an ever expanding fiat system.
The fix ?
Return to constitutional Silver, Gold, Copper & Nickle currency, designated by weight not cents/dollars. These will find their own local value. These can’t be printed to oblivion, have intrinsic value, and are a safeguard against selfish human nature. Continue to keep the manufacture of Gold & Silver rounds by private mints & foundries to help keep the government mints honest as to premiums.
Correct these 3 Principles and >80 % of a nation’s problems would disappear. Do not allow your masters the Debt slave creator’s to tell you it can’t be done. It is easily done. Beware. The WEF wants you totally enslaved with digital currency.
Otherwise, prepare for destruction.
Seek to understand these 3 practices. Check on if I have stated them accurately for yourself. Then Print this out, and share, Tweet, post. Only we can save ourselves !
These 3 paragraphs can change the world and get you and your family out of endless peasantry and serfdom.
The interviewer looked genuinely confused at the nonsensical ramblings that Charlie responded with.
😅😅😅
@Chris Bentsen 🤡🤡🤡
At least Charlie Munger acknowledges that the decision to vaccinate is a game of weighing risk. The only thing that’s kept me away from vaccination is that while I could find plenty of statistics regarding infection rate, deaths, probabilities by age group, etc, I could only find personal experience data regarding the serious reactions others have experienced with getting the vax. This doesn’t turn me off from the vaccine since anecdotal evidence is nearly worthless, but I couldn’t locate hard adverse data in order to compare the risks. Since I lacked complete data, I did what any investor does under such conditions…nothing. You don’t invest in a stock, nor get a vaccine for that matter, if you have insufficient information to count that decision as something within your area of competence. Perhaps Charlie has such hard counterpoint data (in any case at his age I would certainly feel comfortable in saying that getting the vax is probably the smart play), but I can’t find such info. Of course, anyone I ask is just like “yea the risk is way higher if you don’t get the vaccine for sures-ese because of anecdotal evidence, or because the news said so. I’m not against the vaccine at all, but I simply need more information that to the best of my knowledge is unavailable to the plebeians.
Strange that you say there is no evidence in the effectiveness of vaccines. Evidence is abundant out there, because vaccinations are now done worldwide and in history with other types of vaccines. How do you think we ever started with vaccinations? It is also this process which has proved its effectiveness.
@Whois TheMan That’s not what I said. I’m looking for data on the adverse vaccine cases. That is what I have not seen. If you’d like to provide a link to a credible source regarding this I would be grateful so I may complete my statistical analysis with *all* of the facts. I literally want to know % chance of death or permanent disability from covid (known to me) vs the currently know effectiveness of the vaccine (known to me) vs the adverse cases from the vaccine (unknown to me). How many cases of adverse reactions to the vaccine have occurred relative to the total number of vaccinations? I then need to see this broken down by severity as well as look for correlations based on age groups and other factors. I am not “antivax.” I am pro “all the facts.” I have no “emotional opinion” regarding the vaccine. I simply follow the math. That said, there are unquantifiable details at this time that give me trepidation about the vaccine in the sense that most vaccines take over a decade to bring to market so I’m not sure anyone is entirely certain if there could be yet unknown long term complications from receiving the vaccine. This may be unlikely, but we simply don’t know and as such it is a factor we cannot dismiss. Like I said, if a person is in a high risk group, or perhaps lives with someone who is (older or immune compromised) I would probably say that without crunching all of the numbers the vaccine is probably a wise choice for them. For someone who in their 20’s-40’s and healthy, the calculus isn’t so simple. Of course there is a degree of culture shaming that we should get the vaccine for others even if the immediate fam isn’t in a risk group, however that’s simply not reasonable to demand of others. On the other hand if we do not get the vaccine, I’ll be the first to concede that we cannot be mad if others ask us to wear masks in crowded areas and around those in risk groups.
11:15 “the people that are preying on them . . the salesmen and the market makers . . . they’re not the most admirable people either” Truer words have never been spoken.
Thank you Charlie M. That was a very NEW and fresh perspective for me on virtual all of the questions.
Bobby Kotick is a disgusting human being.
BTC “perfectly untraceable to commit crimes” Didn’t even the ridiculously inept and corrupt DOJ just recover 4 billion from money launderers? The hack was in 2016. So infinitely more traceable than USD. Time to reconsider the rest of his “sage wisdom” I’ve been following.
The interviewer is abit too anxious. He should wait some more before continuing to the next question
Why does this guy smile like a happy pediatrician, while Munger is talking about nuclear war and valueless currency?
Senility
Charlie is amazing.
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I make huge profits on my investment since i started trading with mrs Cynthia Alexander her trading strategies are top notch coupled with the little commission she charges on her trade
I like this man
I invest with Mrs Cynthia Alexander. too, she charges a 20% commision llon profit made after every trading session and that’s fair compared to the effort she puts in to make huge profit.
Munger is so Lucid and wise, even at his age. His mind is sharp as a tack. God bless him. God bless his soul.
This is not the first time i am hearing of Mrs Cynthia Alexander and her amazing trading skills but i have no idea how to get her.
Munger asking himself why the reporter keeps asking stupid obvious questions.
How do i write him please ??
For sure i will always rate Prof Greg strategy 95/100, I haven’t lost a dime with this program. No risk unlike hodling
85% of crypto investors don”t understand the potentials and benefits of cryptos investment they think the only way to make profits is just by holding. i laugh at all amatuer investors.
The suggestions you presented, on trading signals saved me big time from the disaster. so, thanks a lot
Tech has been here..it is Berkshire that finally bent the leg..lol
This Interviiew was hilariously awkward.
Charlie Munger is an old has-been who craps his pants and forgets where he is.
Dude is 98 years old. Amazing.
He’s a straight shooter all the way and expresses himself very clearly.
They’re fighting for liberty in Canada Charlie. Other than that you’re a very bright mind.
Wow this guys speaks horribly of dictatorship in the past but doesn’t realize people like treudeu are acting the same way. I respect his investing ablility but I’m truly disgusted by his stance on covid mandates
What are you babbling about? Treudeu isn’t going to run Canada for decades.
the interviewer was well awkward lol
Ol Munger avoids the question of the divide between the rich and poor, and then says I blindly follow the government, ahh sounds like manipulation…. F*** munger
LOL Charlie recommends not being envious, btw, He’s achieved it! I’m sure he gave all his money away 😛
I am waiting for Mr. Munger to speak out for inalienable rights such as freedom of speech and religion……hello….anybody still care??????
I can listen to Charlie talk all day
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Charlie Thank You.
Or a Trump
14:58
“”…people are not really motivated by greed, they’re motivated by envy…””
And this is so just because he says it?? And is there a reason people feel what HE calls envy?? Righteous envy?? Is it really envy?? I don’t think so
He has no idea about Crypto
I’m starting to feel that charlie munger is a communist.
14:40
How does he feel ‘safe” with Chevron getting 5% if the inflation rate os 7% officially and unofficially it is 15-25% ??? so in real terms he is losing big time, about 10% per year in value or “purchasing power”… yet he is pro inflation and completely against disinflation!!
”inflation is the greatest danger humanity face right now”. Oh yeah and you know… the planet just fucking BURNING.
Wow the disconnect of those people…
The interviewer just keeps on giving him more and more rope to hang himself with, there is no way the interviewer doesn’t know the public sentiment about a lot of issues he asked him, “mandatory vaccination” right after he asked him about the trucker strike?? He is almost taking advantage of him!!
Not sure “banishing envy” is an answer to the widening gap between rich and poor?
It’s crazy to think that Charlie Munger has lived through the Great depression, WW2, the Cold War, dot com bubble, and financial crisis. Him and Buffett have a wealth of knowledge that is invaluable.
Should’ve asked him about BABA 🤣🤣
Yahoo finance app is wonderful
What a masterclass interview.
Think this might be Charlie’s “year.” What an incredible run.
Charlie, you look a lot much better . You like born again!