Author Topic: Munger talk (published dec 20, 2017)  (Read 5760 times)

Liberty

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Munger talk (published dec 20, 2017)
« on: December 21, 2017, 04:48:13 AM »
https://m.youtube.com/watch?v=S9HgIGzOENA&feature=youtu.be

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2017Charlie Munger, Vice Chairman of Berkshire Hathaway, joins Michigan Ross Dean Scott DeRue for a conversation about Mr. Munger's life, career journey, philanthropic legacy, and his thoughts on a few current global trends.

To jump directly to the conversation with Charlie, go to: 2:57
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mwtorock

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Re: Munger talk (published dec 20, 2017)
« Reply #1 on: December 21, 2017, 07:00:02 AM »
thanks so much. this is like bacon egg cheese and coffee for the morning  :D

ValueMaven

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Re: Munger talk (published dec 20, 2017)
« Reply #2 on: December 23, 2017, 11:27:53 AM »
Charlie credits Ajit w/at least $60bn of value creation at Berkshire ... WOW!!

Sincerely,
ValueMaven

longinvestor

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Re: Munger talk (published dec 20, 2017)
« Reply #3 on: December 23, 2017, 11:50:16 AM »
Charlie credits Ajit w/at least $60bn of value creation at Berkshire ... WOW!!

Sincerely,
ValueMaven

Buffett said that Ajit's share of the float was some $45 billion. That was before the AIG deal etc.

indythinker85

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Re: Munger talk (published dec 20, 2017)
« Reply #4 on: December 23, 2017, 02:48:26 PM »

John Hjorth

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Re: Munger talk (published dec 20, 2017)
« Reply #5 on: December 23, 2017, 10:50:50 PM »
I especially found this part at around the 24:00 mark hilarious:

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.. I hated sending other people invoices and needing money from richer people. I thought it was undignifying. I wanted my own money ...

Well, if it's not your favorite discipline to bill people after lots of hard work, one definitely should leave! [ : - D]

Many years ago, one of my friends expressed his disgust for my profession: "You actually don't produce anything. This certification of yours is just a consession to tax rich people - your are just reallocating wealth from them... - to yourself. You are just a capitalist mercenary. You aren't even a tax accountant, so you're in bed with the IRS, too!"
« Last Edit: December 23, 2017, 11:04:06 PM by John Hjorth »
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rb

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Re: Munger talk (published dec 20, 2017)
« Reply #6 on: December 24, 2017, 09:32:31 AM »
"I just wanted to be independent and I overshot a little" CM

chesko182

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Re: Munger talk (published dec 20, 2017)
« Reply #7 on: December 24, 2017, 01:34:33 PM »
First comments he has on Bitcoin as far as I am concerned too.

"Believe me man is capable of creating more Bitcoin, they tell you they're not gonna do it but what they mean is they're not gonna do it unless they want to"
"It's bad people, crazy bubble, bad idea, luring people into the concept of easy wealth without much insider work"

priceless.
twitter: @chesko182

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augustabound

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Re: Munger talk (published dec 20, 2017)
« Reply #8 on: December 24, 2017, 01:47:10 PM »
"Believe me man is capable of creating more Bitcoin, they tell you they're not gonna do it but what they mean is they're not gonna do it unless they want to"

I've been on the Bitcoin sideline but have been interested for sure. I'm not sure if the interest is in the future of currency or getting a front row seat to a train wreck......

But all the times I saw someone say that Bitcoin isn't infinite I always kind of raised an eyebrow. From what I see the only limit on the number of Bitcoins is the written word of Satoshi in his white paper.

Then it gets forked and all of a sudden out of nowhere there's Bitcoin Cash....... Bitcoin has a ceiling as to total units but all someone has to do is fork the code and all of a sudden there's more....

I understand the differences between Bitcoin and Bitcoin cash but the fact seems to point to creating more whenever someone (or a group) wants to.
"Serenity now, insanity later." - Lloyd Braun

maxthetrade

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Re: Munger talk (published dec 20, 2017)
« Reply #9 on: December 24, 2017, 02:01:49 PM »

priceless.

Priceless and perfectly obvious ;-)