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Berkshire’s Munger Says Now ‘Even Crazier’ Than Dotcom Bust

hank
edited December 2021 in Other Investing
Munger wasn’t painting with a broad brush. His references were to certain segments of the U.S. market - plus crypto. Article not as complete as I’d like. But thought it worth sharing in light of this 97 year old’s reputation and experience. And note the cash pile Berkshire is sitting on.

“Munger, who was speaking after Berkshire’s cash pile hit new heights at $149.2 billion of funds in the third quarter, also said he was bullish on renewable energy.”

Article

Comments

  • Sven
    It is incredible that Munger is 97 years old and he is very sharp. BRKB has not made big purchases lately other than buyback of their own stock.
  • MarkMark
    Not trying to change the subject but does anyone know if Buffett & Munger plan to go out together or will one carry on if the other steps away?
  • Sven
    There is already a transition place in place for a number of years including Greg Abel, Ajit Jain, and Todd Combs. I believe Abel is the one responsible for investing in Apple and dumped IBM (a long holding for many years). Now Apple accounts for over 40% of BRKA portfolio.
    https://barrons.com/articles/who-succeed-berkshire-hathaway-ceo-warren-buffett-51577375291
  • rforno
    edited December 2021
    Given his cryptocurrency remarks, I'm reminded of the Simpsons meme of "Old Man Yells At Cloud"...... how many US Dollars have been used for illicit purposes over the years? Just because something is new and/or misused (or not understood) by some doesn't mean it's necessarily a bad thing.

    Listening to Munger's pomposity bubbling just under the surface in his remarks in recent years, I'm reminded of the Wall Street saying that "past performance not indicative of future results."

    BTW, anyone ask how his BABA stake is doing these days?

    PS: I do agree w/Munger that the markets are 'crazy' and imo have been that way since the GFC.
  • hank
    edited December 2021
    There was a thread recently about timing one’s spending so as to die completely broke. I’d imagine still living and working at 97 would complicate that math a bit.:)
  • CrashCrash
    Munger is spot-on about crypto. A currency created out of thin air, ALONGSIDE of what is actual legal tender.
  • MarkMark
    @rforno - my thoughts exactly.
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