Charlie Munger: 'A lot that I see now reminds me of Sodom & Gomorrah' (2005)
Вставка
- Опубліковано 23 тра 2019
- Warren Buffett and Charlie Munger respond to a question regarding Warren's early interest in investment. From the 2005 Berkshire Hathaway annual meeting.
Top ten investment books;
The Intelligent Investor by Ben Graham: amzn.to/2XP3Hvo
The Big Short by Michael Lewis: amzn.to/3ak7Wr0
The Dhandho Investor by Mohnish Pabrai: amzn.to/2PqQDgk
One Up On Wall Street by Peter Lynch: amzn.to/39JM2Kk
Ben Graham's Security Analysis: Sixth Edition, Foreword by Warren Buffett: amzn.to/2XNYtAh
The Little Book of Common Sense Investing by Jack Bogle: amzn.to/2UsGk8T
Common Sense on Mutual Funds by Jack Bogle: amzn.to/2Uxu2wl
Common Stocks and Uncommon Profits by Phil Fisher: amzn.to/2XOCU2v
Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger by Peter Kaufman: amzn.to/2oBddW4
The Essays of Warren Buffett: Lessons for Corporate America: amzn.to/3EwbNxx
(The above are affiliate links.)
They are very very good at being old
Charlie: ”I lot that i see now reminds me of Sodom and Gommorah.”
Warren: ”We werent there incidently.”
Imao. Still lightning quick in head and wit. These guys are National treasures no doubt.
He's so funny I'm crying lol
What if they have a time machine and went there? 🤯
“Still” lightning quick… you wrote this comment 4 years ago when this video was 15 years old at the time lol 😂
Recorded in 2005, a precursor and warning to the crisis of 2008+
nail on head
Honestly these guys are as old as the hills with minds of 21 year olds, always love a listen
Charlie is honestly such a legend. same with Warren obviously
Omg! Hahahahaha “Charlie is only here as part of his outreach program” 😂 LOL
I know I was dying at that prt
Keep posting those videos man, they're amazing!
Thank you!
These two guys are perfect together. I love how Charlie hates money manages 👍
The only thing he hates more about is fancy business schools
How simple it is . No big computers , no big signs bullshit , just wisdom
6:59 the noise 😂😂
LMAO
Very true munger- hedge funds are buying up the Math PhD’s and people are majoring in things like “quantitative finance” and applied mathematics which reflect more a passion for money than a passion for scholarship.
And now... these phd and quantitative finance have made robots with algoritm that replace all the humans analysts
PLTP - Survival of the fittest.
blame Capitalism. If you incentivize people with money then people are just going to go for the bottom line.
@@missionpupa competition and innovation eventually crushes people like that without government. 2005 America is not the same as 1900. Thank the government for so much bs. You gotta wonder why they put up a reinforced fence for the White House’s. And don’t let public roam in it like the beginning times.
Charlie is right. America should study why china fell...
Modern China is actually a major underdog. CPC overthrew KMT against all odds. Notice how that civilization isn’t collapsing internally nearly as fast as the US, Europe, and India.
China fell because of US in my opinion. Sunyatsen built an empire in Hawaii, studied in US, and probably received major arms from US government when overthrowing the Qing dynasty. And even still the CPC rose to power. If it weren’t for Japanese invasion during WW2 China would look incredibly different.
The 2005 frenzy was tame compared to 2019 and like Charlie says, bad consequences normally follow
If you mean the current market... it might be inflated, but that's because of rate rises, low inflation, bond yields going down...
Munger and Buffett had never seen such low rates and inflation or tech disruptio in their long lives. Buffett recently piled into Amazon saying he called it completey wrong and it isn't expensive at today's levels.
2008 was a once in a lifetime event, we are unlikely to see the collapse of the Western banking system again...
@@Omnislash2000 really , why is that? What has changed?
@@Omnislash2000 Don't jinx it! lol
@@hardy2175 the government are all over banks like a rash! But in terms of what has changed, lets call them the 3 D's
1. Debt - collosal debt levels which strong arms governments into low spending
2. Demographics - horrible, I mean horrible demographics. The West wont exist in 150 years! Low birth rates....
3. Disruption from technology
All 3 are keeping a lid on core inflation, which is well documented... so this world is different!
Nonetheless please remember John Templeton: "The four most expensive words in the English language are "this time it's different."
If you are young and poor, my opinion is that you would be better off by investing in yourself by gaining work skills in order to earn a better salary, rather than learning how to invest well. This is because when you are poor you have little capital to invest, so even if you are a good investor you won't be able to earn much money.
An exception to this is if you are able to borrow money to start a business.
Start ups raise money for their ideas all the time. You can make money without having money by starting your own biz and raising money for it. Having a high salary is at a job is only one way.
That's true, although I have a decent amount saved up from working when I was young
AerialExplorer very insightful comment
You can do both.
Tell that to a 7 year old Warren. Another idiot on the internet dishing out advice
Same
2021 - Sodom and gomorah keeps pumping to all time new highs.
Charlie have a complicated brain, maybe because he's too brilliant and i dont understand what he said
Read everything in sight
What's that sneezee at 6:55 lol
lmao
thats so hilarious
That was in 2005. It's a lot worse now.
Warren buffet is a genius 😂😂😂
These two remind me of the old guys on the Muppet Show.
YES!! Arhahahahaha, amazing!! Now I can't unsee that!! 🤣🤣
Ikr 🤭
What do you suppose he meant by the comparison to sodom and gamorrah?
It had happened in the past, there came bad consequences. Sodom got destroyed, it will happen again.
Sodom didn't exist. It's just a story to teach an idea.
Rip Charlie Munger
he's right. we're phucked.
Munger FTW!!!
Great Babylon will fall in just one hour... at the end of the Great Tribulation. The only question is... what is Great Babylon? A city? A state? A country? And what's its' name? New York City? San Francisco? Los Angeles? Some other place?
Babylon is Babylon.
It's the USA, and it falls after the great tribulation and rapture, right before Armageddon at the 7th trumpet and vial.
Check out pastor Steven Anderson's documentary, After the Tribulation. It's amazing. He's Baptist and goes point by point in the Bible.
Wow, these guys were really old already in 2005. Unreal
check the 2000 interview... they didnt change
TL;DR His dad was elected to congress...
If Warren Buffett dies, will Berkshire slowly lose value like Apple after losing Steve Jobs?
There's only one Warren Buffet no one makes his%
Slowly lose value to become the highest valued company in the world, you mean?
Definitely. Loads will cash out.
99% of you watching this have no idea of what is being said
I'll bite. Why not? And what is being said?
Care to explain it to us?
100% of your personality is narcissistic (and therefore a disorder)
I wish I started stock market earlier would’ve been more rich lol
nice flex
Kong
The fact that Jeff Bezos is richer than them makes me hopeful in that starting your own business and running it properly is the most profitable. I like these guys, but they don’t really do much for improving our economy and serving the American consumer
Thats not really true. How many jobs exist because of this two guys. They financed many good companies. How many taxes does bezos pay in America? How many small businesses, only or offline we're destroyed directly or indirectly from Bezos? You have to watch the congress hearing with bezos, there you can See a tiny bit of the dark site..
1. They own businesses as a conglomerate. If their businesses were to be valued separately, they would be richer than Bezos.
2. They allocate capital better than any financiers in the country.
Well you’re wrong number 1, number 2 why does it matter they help the economy or serve the consumer? Doesn’t change anything they’ve done. And also pointing out the one guy who is on top isn’t a great argument either.
Bezos is only richer because buffett gives away incredible sums of money and pays taxes, which bezos does neither of. Buffett has helped many amazing companies become successful and those companies serve the consumer better because of him. He's also a moral businessman, unlike bezos who is a power hungry scum bag, frankly I hope the world seizes most of bezos' wealth at gunpoint, he's probably more powerful than most elected officials.
Jeff Bezos got so rich by becoming a slave trader - let's not pretend that Buffet is the villain here! 😯🤨
From 0-4:18 PLAIN GOOD ENGLISH ABOUT INVESTING
4:18-End : blah blah blah