Market Commentary – May 2018

An interview with billionaire investor and vice chairman of Berkshire Hathaway, Charlie Munger on Yahoo News. In this interview, Charlie discusses how value investing has evolved and why Apple can be considered a value investment. Charlie also talks about Bitcoin being immoral and the rise of China.

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Speculation on Bitcoin

(May 5, 2018) Just before appearing before thousands of shareholders at the 2018 Berkshire annual meeting on May 5, CNBC’s Becky Quick tweeted that Warren Buffett told her bitcoin is “probably rat poison squared,” one-upping his partner Charlie Munger who had called it simply “rat poison.” Warren Buffett and Charlie Munger didn’t use those words... Continue Reading →

Separate Science from Speculation

(May 5, 2018) When Charlie Munger and Bill Gates join the May 5 “Squawk Box” conversation, bitcoin comes up again. While admitting it’s “clever computer science,” Munger argues cryptocurrencies are “worthless artificial gold” that facilitates “illicit activity.” Gates acknowledges the underlying blockchain technology is a “good thing,” but thinks the price gains are being driven... Continue Reading →

Mistakes Made at Valeant

Charlie Munger, Berkshire Hathaway vice chairman, and billionaire investor Warren Buffett discuss controversy surrounding Valeant Pharmaceuticals, and activist investor Bill Ackman.

On Berkshire Culture

(April 30, 2016) Warren Buffett and Charlie Munger explain why they’re confident Berkshire Hathaway’s culture will last even after Buffett’s son Howard no longer serves as non-executive chairman.

On Activist Investors

(April 30, 2016) Warren Buffett and Charlie Munger explain why they’re not that concerned about the threat of activist investors to Berkshire Hathaway's future.

On Dodd-Frank Criticism

(May 2, 2015) Warren Buffett and Charlie Munger explain the shortcomings of Dodd-Frank, the financial reform legislation that was passed in 2010 in the wake of the 2008 financial crisis.

Playing with the Hand We Got

(May 2, 2015) Berkshire Hathaway CEO Warren Buffett and Vice Chairman Charlie Munger say business school training is not necessary—and can actually be harmful—for success in business.

Self-Reinforcing Culture

(May 2, 2015) Warren Buffett explains why he’s confident that Berkshire Hathaway’s culture is so “deeply embedded” that it will continue long after he and Charlie Munger are gone.

2013 Berkshire Hathaway Annual Meeting

Warren Buffett recounts how Berkshire partnered with 3G Capital’s Jorge Paulo Lemann to make their $23B acquisition of Heinz. He is also challenged about why GEICO is not copying Progressive’s use of technology that tracks driver behavior, defends buying newspapers after previously saying the industry was dying, and gives credit to President George W. Bush... Continue Reading →

No Confidence in Bitcoin

(May 4, 2013) A few minutes later in the same “Squawk Box” interview, Berkshire Hathaway CEO Warren Buffett explained why he thinks some proponents get angry when cryptocurrencies are criticized. As far back as the 2013 annual meeting, Warren Buffett and Charlie Munger have their doubts that the then four-year-old digital currency bitcoin would ever... Continue Reading →

Class B Stock Split Was “Easy Decision”

(January 20, 2010) On the morning of a special meeting of shareholders called to approve a 50-for-1 split of Berkshire Class B shares, Warren Buffett explains how the BNSF acquisition prompted him to make an exception to his long-standing aversion to stock splits. He also strongly criticizes Kraft’s planned purchase of Cadbury.

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