Conversation with Charlie Munger

[Behappyalways]

Billionaire investor Charlie Munger bashed crypto, blasted speculators, and predicted a painful crash. Here are his 16 best quotes from Daily Journal's annual meeting.
https://markets.businessinsider.com/news...tes-2022-2

[Behappyalways]

Legendary investor Charlie Munger trashes crypto, labels Elon Musk smart but strange, and bemoans his Alibaba bet in a new interview. Here are the 16 best quotes.
https://markets.businessinsider.com/news...-ai-2023-2

[ksir]

Legendary investor Charlie Munger trashes crypto, labels Elon Musk smart but strange, and bemoans his Alibaba bet in a new interview. Here are the 16 best quotes.
https://markets.businessinsider.com/news...-ai-2023-2

For those who, like me, prefer to go through the whole session, can view it via below:
https://www.youtube.com/watch?v=9VVPO3KWj3A

It's from CNBC directly, so I don't think will have any copyright issue.

Anyway, first impression, WOW!! this 99 years wise man eating see candies and drinking coke hahaha.
Cool man! Hope I could be the same when my time came 

[weijian]

9. "I regard Alibaba as one of the worst mistakes I ever made. I got charmed by the idea of their position in the Chinese internet; I didn't stop to realize they're still a goddamn retailer. It's going to be a competitive business, the internet — it's not going to be a cakewalk for everybody." (Munger added Alibaba stock to Daily Journal's stock portfolio in early 2021.)

Charlie Munger's faith in Alibaba was touted as a major consideration from the Alibaba bulls back in 2021 when it was on its way down. The problem is most of us forgot that both the Oracle of Omaha and his sidekick, never get all their decisions right, although on a money-weighted perspective, they will probably get it mostly right (~80%?). The only person who had almost a perfect record - 3 down months out of 87months (96.5%) whereas the S&P500 was down 28months in that time period (68%), was Bernie Madoff. And everyone knows he turned out to be a fraud.

His candid admission is a great lesson on humility and how at 99 years old, he is still learning - probably this is the greatest lesson he has to bless us with.