Charlie Munger calls bitcoin ‘disgusting and contrary to the interests of civilization’
- Thread starter themickey
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It reminds me of Richard Dennis, he killed in the 70's and early 80's, then markets changed and he got killed. At least Buffett/Munger continued to make some money, so hats off for them but still, they could not adapt and learn new ways to look at the world. Buffett needed 30 years to buy Apple, that shows how closed minded and slow he is
Even if so, would you mind debating his points? Ah, you can't, my apologist friend...
That is why most crypto boys are nothing but cultist enthusiast. They can never debate anything in a logical manner. Sad really, but not surprising.
The numbers dont lie, Buffett's/Munger's abilities are no longer anything special. Since the mid 2000's they have done a mediocre job picking investments
It is an interesting chart, but returns alone are meaningles. Better to compare sharpe ratio’s for example.
Did some googling but could not find a chart
The numbers dont lie, Buffett's/Munger's abilities are no longer anything special. Since the mid 2000's they have done a mediocre job picking investments
I posted this in 2009:
https://elitetrader.com/et/threads/is-buffett-getting-margin-calls.156384/page-6#post-2339523
I included then an Excel with the math.
What I posted in 2009 was spot on.
The Economist has stolen my post on ET.
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It's even worse if you compare total returns. BRK-A does not pay dividends to its investors.
Let's not forget that governments can just ban cryptos, so the whole thing can collapse at any moment. Governments do have the power to put an end to this.
https://www.google.com/amp/s/mobile.reuters.com/article/amp/idUSKBN2B60QP
https://www.google.com/amp/s/mobile.reuters.com/article/amp/idUSKBN2B60QP
Baron
ET Founder
"Faced with the choice between changing one's mind and proving there is no need to do so, almost everyone gets busy on the proof."
Ironically, that quote is from Charlie Munger's, Poor Charlie's Almanack, where he talks about one of the most important skills an investor can have is the ability to constantly detach from old ideas and embrace the new ones.
It might be time for ol' Charlie to revisit his own book and start detaching.
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