Berkshire's Charlie Munger talks the economy, Coca-Cola, cannabis and much more

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5 жыл бұрын

In his first interview since Berkshire Hathaway’s annual shareholders meeting, Vice Chairman Charlie Munger talks about the economy, the Fed, income inequality, politics and succession planning. Munger made the remarks to Editor-in-Chief Andy Serwer in a conversation that will air on May 9, 2019 on Yahoo Finance in an episode of “Influencers with Andy Serwer,” a weekly interview series with leaders in business, politics, and entertainment.
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Пікірлер: 142

@dancp9889 5 жыл бұрын

"I don't think she knows who Adam Smith was." LOL. Priceless.

@kwakuas.9204 5 жыл бұрын

yeah. that took me out

@leedavies1768 5 жыл бұрын

ha, I was literally going to write the same comment, total gold

@pmaki37 5 жыл бұрын

Priceless

@aihkas 5 жыл бұрын

I’m pretty sure she knows. He’s just an old arrogant asshole.

@superg7 5 жыл бұрын

@@aihkas One of the greatest investor ever lived. At 95 has more brain power than you and AOC combined. What have you achieved in life? Loser

@lilstudyman 5 жыл бұрын

Munger and Buffet are going to ride the Coca-Cola train until their legs literally give out.

@La-familia-de-Fazio 5 жыл бұрын

lol I would too!

@KKinTheMidwest 5 жыл бұрын

Lol..... he’s gonna ride it some more......

@JonP1234 5 жыл бұрын

Charlie in a wheelchair... his body is giving out but his mind is tremendous

@frankyu6984 5 жыл бұрын

his body might feel better if his Coke had cannabis in it.

@sohamdeshmukh1145 5 жыл бұрын

A one legged man I have seen you before 🤔

@williamdumas699 5 жыл бұрын

Phil town fan?

@scottfinch6037 4 жыл бұрын

Jon Paolino Hell that fella is 96 yrs old and I’m surprised he’s even doing as well as he is but him and Warren’s run together will never be matched.

@tamershahin2172 5 жыл бұрын

Charlie contributed to Berkshire’s shareholders more than they can even imagine. He changed Warren Buffett’s “cigar-butt” investing approach, and put Berkshire on another level.

@dogestranding5047 5 жыл бұрын

Charlie is a true mastermind. In many ways, more admirable than Buffett. The way he studies many disciplines and draws the "big" or important ideas from them while Buffett focuses more on business and related subjects. Having studied both, Charlie seems like a more "complete" person, but I have enormous respect for Buffett as well.

@tamershahin2172 5 жыл бұрын

Bryan Wheelock enormous respect for both of them indeed

@Ozgipsy 5 жыл бұрын

So goes the legend...maybe it's true, maybe it's not.

@tamershahin2172 5 жыл бұрын

ozgipsy I believe it is

@egehanogunclu5878 5 жыл бұрын

Hi Tamer, what's wrong with cigar butt investing can you explain to us?

@richardgordon 5 жыл бұрын

I really like listening to Charlie Munger. He a no bullshit guy with a lot of wisdom.

@scottfinch6037 4 жыл бұрын

Richard Gordon Excellent description of Munger.

@yogeshshidhaye7332 5 жыл бұрын

this interview is a good example of difference between liberal and sensible person

@keepitraw1 5 жыл бұрын

it killed me when he was asked about AOC :D

@InfoSopher 5 жыл бұрын

9:22 What's his argument here? Anyone have a guess?

@nebjaminsusej151 5 жыл бұрын

I like how he said that Coca-Cola shouldn't get into a recreational drug business what do they do now?

@ganjatrain2324 5 жыл бұрын

Nice video!

@HBrown-cc6wv 5 жыл бұрын

Charlie has answered these questions a million times.

@user-td7xf3gz4l 5 жыл бұрын

Why does Charlie say Singapore has no debt?

@JoaquinBS92 5 жыл бұрын

Singapore recorded a government debt equivalent to 112.20 percent of the country's Gross Domestic Product in 2018. I don't know what he means when he says "Singapore has CERO debt", any guess?

@carbonchain 5 жыл бұрын

He is talking about zero net debt, you are referring to gross debt. www.gov.sg/factually/content/is-it-fiscally-sustainable-for-singapore-to-have-such-a-high-level-of-debt

@alexanderh8377 5 жыл бұрын

@@carbonchain This is correct. Singapore has vast assets and sovereign funds which are controlled by the state. They have relatively large debts compared to the size of their economy, but compared to their assets its peanuts, nothing. Also keep in mind that Singapore mostly controls one the most important and strategic shipping routes in the world (Strait of Malacca) which in my opinion is an invaluable asset.

@HawkeyeFortune 5 жыл бұрын

I disagree with him here. Printing money saved the rich, and was not the only choice....

@SharifSourour 5 жыл бұрын

Cannabis is much more wholesome than Coca-Cola & it's a great idea.

@realbobbyaxel 5 жыл бұрын

2:35 charlie nails it

@WheelchairGear 5 жыл бұрын

Charlie tells it straight.

@christopherrobbins9985 5 жыл бұрын

Munger is dropping pearls. Sagacity distilled.

@Danified1 5 жыл бұрын

1:48, Freudian slip

@SiddhantGoenka.Official 5 жыл бұрын

Only and only respect for Mr.Munger and his wisdom

@johnparadise3134 5 жыл бұрын

7:33 “Warren steps in and does big things.”

@SueEmmDee 5 жыл бұрын

Mr. Munger is a great man.

@tjti2631 5 жыл бұрын

He is so particular about products. Interesting

@knh5954 5 жыл бұрын

Fiscal policy did not offset monetary policy that benefited the wealthy so much. Inequality will work itself out, when yellow vests or fiscal policy return the middle class purchasing power back to mattering in our markets. Until then, It will only get worse as wages still do not rise to keep up with inflation and all new gig jobs create barely getting by folks- the new American dream.

@freedomwatchdog2495 5 жыл бұрын

Cocoa cola ... "wholesome ..."

@richardedwardpay 5 жыл бұрын

Singapore, zero personal tax.

@realbobbyaxel 5 жыл бұрын

8:10 charlie

@stuginachnamnix5338 5 жыл бұрын

Hm, correct me if I'm wrong but according to my research Singapore's dept per GDP is higher than the US ... so he's wrong on that.

@mp517q 5 жыл бұрын

Look at its assets compared to its liabilities/debt

@zinckranize 5 жыл бұрын

for someone who prides himself on being rational, he doesn't seem very open minded.

@dogestranding5047 5 жыл бұрын

@Fuckya Lookin at I might've thought like you when I first studied these guys, but you need to realize that Charlie Munger isn't right because he's Charlie Munger or because he's rich. He'd be right because the facts are on his side and because his argument is sound. Charlie Munger isn't infallible either. Analyze what he says- don't just assume he's right. He wouldn't take someone else's word for it just because they're rich. And that's how he got to where he is today: by being rational.

@zinckranize 5 жыл бұрын

Fuckya Lookin at I wouldn't say comparing someone in his 90s to someone in their early 20s is very fair. Secondly, my net worth is greater than warren's was at the same age, so I don't think i'm doing too bad.

@tregfdbvc 5 жыл бұрын

Fedora Knight sure it is, son

@NYProfessional 5 жыл бұрын

"We can raise the minimum wage and a little and enlarge the social safety net as we prosper - both parties agree on that." Charlie is living under a rock.

@La-familia-de-Fazio 5 жыл бұрын

NY Professional the labor force market dictates minimum wage. In my area of the country; the labor market is so tight, that even fast food restaurants are now matching entry level pay for manufacturing jobs! Seriously! That is economics 101; SUPPLY AND DEMAND! The demand for workers far out weighs the supply; thus they got to pay TOP DOLLAR!

@thelonewolf8333 5 жыл бұрын

I have to disagree with him with Coke and cannabis. CBD is big business. I don’t think it will tarnish cokes image. Cannabis will be the norm in the next few years.

@TheM0joDoj0 5 жыл бұрын

I agree, CBD will do for relaxing and unwinding, what caffine does for increasing alertness.

@johnjacobjingleheimerschmi2070 5 жыл бұрын

If its not broke dont fix it is what he trying 2 say.

@moneygrinds4216 5 жыл бұрын

Its already normal and you know it

@ChaceBonanno 5 жыл бұрын

@@moneygrinds4216 Not in the way he's referring to. I'm talkin CBD in CVS

@deracks8183 5 жыл бұрын

Subprime lending got us in this mess. Had they paid off the original homeowners by qualifying those people to buy their homes for the 10cent on the dollar that the homes were sold for- our economy. would have flourished. Shortsightedness and hubris by people who should have thought about longterm consquences brought down the economy,

@Jermardrst 5 жыл бұрын

Cocola is a recreational drug.

@byronmatthews 5 жыл бұрын

The problem with keynesian economists is they always think the solution is some government action, bureaucrats somewhere implementing policy, like this guy who thinks borrowing and spending was the key; that’s utter rubbish, we the people are the economy and that economy shrinks and grows inversely to the size of government. Shrink government and get it out of our way, and our economy will flourish.

@truthseeking6611 5 жыл бұрын

Did he say Singapore is debt free?

@keepaibthonest8704 5 жыл бұрын

Let the new minds come through in regards to cannabis. Let the old minds hang on to old times

@askquest2844 4 жыл бұрын

So intelligent and conscious. Did he say "why would we mix a toxic unhealthy beverage with a medicinal herb?" Only an idiot would do that!

@JuicerNation 5 жыл бұрын

lol democrats making the labels on the bottom really want to give credit to obunga

@huetran4361 5 жыл бұрын

Because there was no economic growth from 2008 to 2016? Get a life dumbass

@shelbyalbrecht9800 5 жыл бұрын

@@huetran4361 due to the explosion in government spending, sure.

@anthonyvescio5311 5 жыл бұрын

Buffet’s goon

@fakename1055 5 жыл бұрын

This guy interviewing Munger is way too confrontational

@arnolddalby5552 5 жыл бұрын

Very funny that Berkshire own shares in Kraft Heinz with a billion in cash which sounds great until you see they also have 60 billion in Debt. Haha. I know companies that have millions in cash and no debt and make loads of paper money. Haha.

@smbogan 5 жыл бұрын

Why would Coca-Cola want to be associated with a recreational drug? Uh... caffeine?

@inspirationalnomad 5 жыл бұрын

And sugar.. Soda causes thousands of obesity related illness and deaths

@theshowman1000 5 жыл бұрын

cbd in coca cola not thc

@frankcb11 5 жыл бұрын

what about AOC MUNGER: i don't think she knows who Adam smith was

@samann95014 5 жыл бұрын

In a wheelchair due to old age & Coke can on side. Is is marketing or he really drinks coke that much?

@soaceba 5 жыл бұрын

A "wholesome brand" associated with a "recreational drug"? Did not coca cola have cocaine in it when first produced?

@tiffsaver 5 жыл бұрын

Does old Charlie here want us to DRINK more Coke, or SNORT more Coke??

@andresaristizabal1359 3 жыл бұрын

10:08 - you can thank me later

@cryptobuzz1680 5 жыл бұрын

SIngapore has 0 DEBT??? HUH?? Where he get that figure from?

@mld962 5 жыл бұрын

178.49% debt to gdp. And this is not the first time he says that... commodity.com/debt-clock/singapore/

@grumpyae86 5 жыл бұрын

Miguel Dias debt clock lol.. it’s been around for so long nobody knows who the worlds debt is owed to.

@weiloh3938 5 жыл бұрын

Taken as a whole, both the public and private sectors in Singapore are net creditors with a strong net asset position equivalent to around 200 per cent of its gross domestic products in its international investments. There have also been some international reports which list Singapore as having high levels of government debts. These may puzzle some readers, given the fact that the Government runs a balanced budget. Contacted by The Straits Times, a Ministry of Finance spokesman said: "We would like to take this opportunity to assure you that the Singapore Government has a strong balance sheet that has assets well in excess of our liabilities. This means that taking into account our assets, we have no net debt."www.mof.gov.sg/Newsroom/Media-Articles/askST-Why-does-Singapore-have-an-external-debt-of-US1-766-trillion-

@grumpyae86 5 жыл бұрын

Wei LOH exactly. Well said. This isn’t just Singapore alone but a great example of a fantastic country. Charlie raves on about Singapore for the last 2 decades for a reason. People should be visiting and seeing this boat village country just 50 odd years ago turned into a economic powerhouse.

@Psytronex 5 жыл бұрын

I found this: "In Singapore’s case, our outstanding debt comprises Singapore Government Securities, Special Singapore Government Securities and Singapore Saving Bonds, which we do not issue to spend. We instead invest all the borrowing proceeds. These borrowings are thus backed by assets. What we earn in investment income from our assets is more than sufficient to cover the debt servicing costs. The Singapore Government in fact has a strong balance sheet with assets well in excess of our liabilities. This makes us a net creditor country, not a net debtor country."

@HBrown-cc6wv 5 жыл бұрын

man these questions are awful

@VicDamoneJr82 5 жыл бұрын

this dude is out of touch

@gecko2000405 5 жыл бұрын

Coca-Cola shouldn't be associated with a recreational drug. Like sugar and cocaine?

@JC-br1nm 5 жыл бұрын

when replying on if he was surprised about the bull market, he acts as if things just happen and there isn't interferances and even manipulation.

@rowenarrow 5 жыл бұрын

Charlie doesn’t seem to be the progressive one of the two, that is clearly Warren. So his comments about AOC and Sen. Warren are not shocking.

@ndnrb_ 5 жыл бұрын

I doubt AOC actually knows who Adam Smith is.

@rowenarrow 5 жыл бұрын

Brandon she is an economics major. So I doubt that.

@rowenarrow 5 жыл бұрын

Xx BigBoss xX I want him to say what he thinks. I am just stating my opinion.

@august4633 5 жыл бұрын

AOC does seem pretty clueless. I have a background in economics/finance and trust me, not everyone with that background has a deep understanding of the economy. It wouldn’t surprise me if she doesn’t know who Smith is. Also, there are more “progressive” candidates than AOC out there who actually have a solid understanding of the economy such as Yang and Sanders.

@rowenarrow 5 жыл бұрын

August I too have a background in economics and as know we are researchers of what happened in the past; but this is never an exact science to predict what can happen in the future. I don’t think she is clueless at all, just an idealist who has the strength to try something different, even when I don’t agree I respect that.

@dailyd8123 5 жыл бұрын

This guy has plenty enough money, does he need to advertise his coca cola as if he actually drinks that poison?

@dailyd8123 5 жыл бұрын

@Just another Bird you didn't even read my post. It's straight up poison. I don't drink it. Just another bird is right... Bird brain.

@johnjacobjingleheimerschmi2070 5 жыл бұрын

I have a few shares as well and even tho cannibas/CBD market is great im glad they didnt get into the space.

@goldquest5717 5 жыл бұрын

Sorry bud the future is taking over

@fallenangel2123 5 жыл бұрын

🐎💩

@shashankk4048 5 жыл бұрын

niggaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa

@josefinschwartz8309 5 жыл бұрын

hahahha on a Charlie Munger video :D

@MrFally2009 5 жыл бұрын

Please. ( to finish your statement) 😂

@nicholi8208 5 жыл бұрын

Singapore has no debt? Citation needed Mr.munger

@esquire9445 5 жыл бұрын

lol, everyone realizes AOC doesn't have a clue.

@lopo8000 5 жыл бұрын

WW3

@NathansHVAC 5 жыл бұрын

There has never been a war between democracies.

@CodeKay1 5 жыл бұрын

@@NathansHVAC You may be forgetting the democracies which the US has overthrown.

@theshowman1000 5 жыл бұрын

lol cbd a drug shit doesn't do anything

@gravelandstudio 5 жыл бұрын

time to go Charlie,....bye bye

@ziddi2603 5 жыл бұрын

"....the rich will go away by itself...." ahhhhh, time to retire Charlie!!!

@smoothacceleration437 5 жыл бұрын

God Munger is completely out of touch. And clearly doesn't understand MMT. I used to look up to him...