“I'm right, and you're smart, and sooner or later you'll see I'm right.” - Charlie Munger

5:27 “But I suspect that in very important ways we are at or near the apex of a great civilization.” -Charlie Munger

Whenever I think about the current state of the US, I always remember this quote from Charlie.

Charlie Munger is one of our time's greatest intellects. And what a sense of humor

"We're going to be buying things as long as I live" "longer than that, Warren"

The best two teachers in this world.

I admire these guys because they're so down to earth. Sadly a good lesson for alot of others.

This question was perfectly timed, just after 3 year Warren did exactly what he said here.

I don't think Charles meant a Financial apex necessary. The financial fall of any empire is preceded by many other factors.

I agree with Charlie more than Buffett. I think the problem is culture, and I don't think an eroding culture is solvable without major changes. You can see it with our debt. I am not saying debt is even the problem, I think debt is the indicator of a much larger culture issue. We are turning into a nation of instant gratification citizens who value security over liberty. I think these will be terrible things moving forward. We are so used to it that our parents are dying and they dont think twice about living us with $25T in debt. They literally don't care. Most worrying, neither do most people.

It’s turning out that Charlie was right ...

6:00 pay attention to this. I lost out years ago by not getting into things due to fear or being overly cautious.

You recognize profits in bear markets when you buy, and realize profits in bull markets.

They're so cute.

Warren and Charlie are so good to hear...deep respect for them...they truly speak their mind...

5:02 "Your children are going to live better than you live and your grandchildren are going to live better than your children live, and we do not focus on macro factors. Charlie?" "grhmmm..."

So... Charlie was right

5:30 , Still gives me chills

Thank you Charley.

Munger- we are at or near the apex of a great civilization. 5:50 Buffet- lets give it 20 years and see who’s right………look at our society today 👀…… without question Munger was right

Munger is greater than buffet,munger being a conservative has a more accurate understanding of human nature.

3 years later we experienced one of the biggest financial crashes ever and then 12 years later we got hit with a global economic halt, the effects of which are beginning to show themselves. Fair play Charlie.

2000 was the apex

he is smart doctor. im pretty sure that he is rich

Alike and different at the same time.

I never tire listening to such wisdom.

I do think that at some point in my life time(currently 42), the United States will have to deal with its debt issue and may even threaten the dollar reserve status and things are gonna look bleak. But once we dealt with that, I do believe we will come out even stronger. So in the short to mid term, I agree with munger, in the long run I’m with warren.

Mr. Munger was right.

6:46 is hilarious hahah

"I'm gonna be buying groceries as long as I live... Charlie is just waiting to take over after." In hindsight, I'm starting to doubt this was a joke, Charlie is 100 in half a year and still going strong.

Contrary to how it may appear on the surface, I think buffet is the sidekick here.

I love their attitudes

2005 meeting. And, three to four years later...

Buffet’s facial reaction at 5:35 is hillarious

I like them both. They’re both nice guys I enjoy listening express their opinions.

The market did, in fact, get cheaper a couple years later.

I love the sound of popping coke cans during a Berkshire meeting 😌

He's right - 2008 happened.

Well, looks like Charlie was right.

I think Charlie the very important ways he mentioned don't include ALL of the very important ways

Almost 20 years out, any thoughts on where we are?

5:58. 2005 munger consider the nuclear threat as it is today on March 8, 2022.

The balcony muppets never disappoint.

Munger is correct. He is reasoning from the current facts, while Buffett is talking about what used to be in this country. This country has passed the breaking point, and it's Humpty Dumpty from here onward.

- Evaluate companies based on ethical strength as well as financial performance (00:22) - Recognize more investment opportunities in a bear market (1:51) - Focus on value when purchasing stocks or bonds (3:21) - Ignore macro forecasts in investment strategy (3:29) - Maintain long-term optimism for the American economy (4:01) - Seize good business investment opportunities regardless of macroeconomic concerns (6:20)

During the Civil War, it probably seemed like America was over, yet we were just getting started. You can’t take for granted that things will be good, but you also shouldn’t be fatalistic and assume things will be bad. You get to decide if you will work hard for a great civilization, just like your predecessors did!

Is a Berkshire shareholder capable of asking a non 12 minute compound question? It seems, too, a bunch are self aggrandizing in nature.

Charlie was right apparently.

Damnnnn munger be on.

Not yet Warren!!!...... 😂

Its actually not hard to see what Charlie sees Relative educational competitiveness hits a peak 30-40 years before the peak of the empire. I'd say for America that was the glorification of engineering and sciences up until Reagan. 1950-1980 Which means you'd expect the relative peak of the American Empire to be 2005-2010s And its also irreversible. The education system has never been worse relative to the OECD and once the 2010 generation is the workhorse of the economy in 2040-2050 competing against Chinese, Indians and Nigerians who went to school in 2010s, the collapse is inevitable.

It appears Charlie was correct....we were at an apex....boomers left the millenials far worse off....

They are probably both right. We'll be more like a third world country but there will still be opportunities to make money if you are inclined that way.

Rip legend

CM is a real OG

Buffett's right. Don't bet against America.

That was a 2 minute long question.

banks are having solvency problems. buffet will never scare the public with this information

Bloody hell! Is everyone required to force a narrative before they ask a question? So dull!

charlie rocks..............

5:18 Munger was right. America was at or near the apex in the 2000's. What caused our decline?

Charlie is correct. We are close to our apex. Remember Rome?

Charlie did not specify what he meant by Civilization.

It is curious that an MD would consider Berkshire to be an "ethical" company: Coca Cola has contributed to the twin epidemics of obesity and diabetes that every doctor sees in their practices.

Charlie is turning out to be correct. Is there a single reason why or multiple reasons?

Fundamentally, Buffett is wrong here when he says "your children are going to live better than you did". This is no longer a given. In fact, it probably wasn't even a given 15 years ago, it was just not as evident as it's become now.

Warren Buffet to 2005 Boomers: "You're children are going to live better than you." 2023 Millennials: "Nope."

Ole Buddy Boy Buffets a Fed for sure.

Charlie was right.

I always thought Charlie is smarter than Warren.

1:59 to skip past the nerd

The longest question ever? He spent most of his time waffling. Charlie looked bored and was clearly hoping he would just get to the question.

Buffett was way off haha Munger nailed it

“I worry about terrorists, but I keep fing over Americans with the craps like Coke”….Warren Buffet

Didt you know my name .? and i working with you rigth? or i talking alone.

Charlie is wiser.

A perfect bisness couple

A lot of cash I gonna be ni?

Hog market. =) He[r]o market.

What buffett did not say is that money-printing machine in the Fed's basement. Charlie is right because he knows printing fiat 💵 like there's no tomorrow, is not sustainable.

If i had 82 billion or whatever it might be in the future for Warren Buffett mostly invested in the America economy i would also be talking exceptionally well about Americas future and telling unintelligent people to invest all their money in the SP 500. I don’t see very rich people investing in indexes. Charlie is always mostly right and his wealth is way less that Buffett. Just imagine Jacob Rothschild putting all his money in the Vanguard Sp 500, he will have to be nuts.

I think Warren is missing Christopher Hitchens point about how lucky the US has been. The majority of Indians/natives who died during European settlement of the Americas died from the introduction of European plagues. North America was empty, and in the Mississippi basin has the single largest, most fertile interconnected navigable river system/arable plain in the world, attracting of ambitious migrations, ocean moats on both sides, tundra to the North, deserts to the South. The reason Americans seem so annoying and spoilt compared to people in the rest of the world is because culturally you have had it so damn easy. You've had 1 civil war, never been seriously threatened by a foreign power, you've never had a serious national disaster that threatened the whole country. Europe and Japan had to rebuild after WWII, the Arab spring was started because of draughts, Egypt Sudan and Ethiopia could go to water over damming the Nile. You've had it easier and luckier than any civilisation, a 250 year run of stability to build up. You memorialise 9/11 and Pearl Harbour as if they are the worst things to happen ever, yet they represent a negligible fraction of the deaths in both of the conflicts they were part of. Search American exceptionalism.

Munger Buffett yin yang ...

Corrupt Software...Capatilizing On Insurance...Fraud

Charlie predicting Trump. Lol

all the rioting and the corrupt media... think charlie might be right :(

Grey's Anatomy. :[

Munger was correct.

You know what, screw these guys. All they want is for you to make money. So they can take it.

I guess Charlie was right

Warren Buffett makes the great point that America because of the higher IQ and co-operation of it's immigrants would always do better but that only applies if the government doesn't start WW3. And given that WW3 has already been planned then as we get to the zero hour watch for alliances forming on the West/East lines. Another important factor is that fully autonomous artificial intelligent drones could be a curse if they detect friendly fire and start attacking their own side thinking it's a renegade unit. You have to think outside the box and look at what can go wrong. Murphy's Law. Hahaha.

I don't like warran Buffett because the rison is they support cocalala.

Buffett is 80 times richer so what ever lol

17 yeara later Buffet, as predicted was right. Never bet against a monopoly. America is a money maker. Munger was so wrong.

Not a fan of Charlie. Part of me thinks he wants everything to go to hell.

Charlie was right...