“Alan Greenspan is a brilliant man,” Munger mentioned. “He simply completely overdosed on Ayn Rand at a younger age.”
Years later, he criticized residents of Greece for pondering they might vote themselves wealthy as their nation struggled with debt. And he didn’t spare Wall Road.
“What do you suppose a derivatives buying and selling desk is? It’s a on line casino in drag,” Munger mentioned in 2015. “They make the witch docs look good.”
Crypto
Munger was typically a critic of cryptocurrencies, calling Bitcoin “noxious poison” and warning that digital belongings had been “partly fraud and partly delusion.”
“That’s a nasty mixture,” Munger mentioned in a 2022 interview with CNBC. “I don’t like both fraud or delusion. And the delusion could also be extra excessive than the fraud.”
Politics
Munger, who typically supported Republican causes, by no means shied away from expressing his opinions about both main political celebration. In 2017, he mentioned Republican leaders risked going too far of their efforts to chop again on oversight of banks.
“My fellow Republicans — those taking away all this regulation of main finance — I believe that’s bonkers,” Munger mentioned in 2017.
He criticized former President Donald Trump forward of the 2016 election, however he additionally mentioned Sen. Bernie Sanders was too targeted on earnings inequality.
“As an mental he’s a shame,” Munger mentioned of Sanders on the time. “Now, I don’t suppose he’s any worse than a few of our Republicans. However not less than they’re loopy otherwise.”
Enterprise
Munger and Buffett’s greatest draw was typically the way in which the pair merely introduced advanced enterprise concepts. For Berkshire’s fiftieth anniversary, Munger laid out the historical past in a five-page letter and summed up why the conglomerate did so properly.
As as to if Berkshire’s path had implications elsewhere, he mentioned the reply was “plainly sure.”
“In its early Buffett years, Berkshire had a giant process forward: turning a tiny stash into a big and helpful firm,” Munger mentioned. “And it solved that drawback by avoiding paperwork and relying a lot on one considerate chief for an extended, very long time as he saved enhancing and introduced in additional folks like himself.
“Examine this to a typical big-corporation system with a lot paperwork at headquarters and an extended succession of CEOs who are available at about age 59, pause little thereafter for quiet thought, and are quickly pressured out by a set retirement age,” he defined.
(Proven in picture: Charles Munger (left) and Warren Buffett; credit score: Bloomberg)
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