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Enthusiasts Daily Journal Annual Meeting: Berkshire Vice Charlie Munger to Daytrading, Bitcoin, China-Investments & Co.

07:38  05 march  2022
07:38  05 march  2022 Source:   finanzen.net

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At the Annual Assembly of the Daily Journal in mid-February, Berkshire Hathaway vice Charlie Munger commented on topics such as China, Bitcoin and inflation and Reveeged criticism of investors who want to use the stock market for fast profits.

PHILIPPE HUGUEN/AFP/Getty Images © Provided by Finanzen.net Philippe Huguen / AFP / Getty Images

• Charlie Munger with rewarding attitude to Daytrading

• Berkshire vice would like to have taxed tax on short-term profits

• Munger still against Krypto currencies

Berkshire Hathaway -Vize Charlie Munger is mostly reluctant to the executive assemblies of the investment vehicles and leaves that speak his partner, Starinvestor Warren Buffett. At the Yahoo Finance Annual Assembly of the Daily Journal, where he is President of the Board of Directors, he did not know his opinion on some topics at the stock market.

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Mungers criticism at Daytrading

at the Annual General Meeting of the Daily Journal Investment Legal Charlie Munger reaffirmed his aversion to daytrading and explained that some people would use the stock market as a game room and this would be "an ideal gambling salon activity". The 98-year-old explained if he would "dictator for one day", there would be "a kind of tax" on short-term profits that would reduce liquidity on the stock market and would separate what he refers to "marriage". This means that investors who focus on short-term profits, and investors who want to build long-term wealth create their money on the same stock market.

The investment legend explained that the level of liquidity as he was young was much lower. "When I was at the Harvard Law School, we rarely traded 1 million shares in one day; Now we trade billions," says Munger opposite Becky Quick of CNBC. "We do not need such liquid [stock market]." In his opinion, the current liquidity level has created "miserable excesses and dangers for the country". The Berkshire Vice compared the enormous monetary amounts that are moved every day, with "people driving at a party" without thinking about the consequences.

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Munger About China, Bitcoin, ETFs and Inflation

In addition, Charlie Munger also commented on the annual assembly of the Daily Journal on other topics, such as Berkshire Hathaways, large cash loafers, China investments, crypto currencies, index funds and inflation .

on the question about Berkshire Hathaways Grand Bargel Reserves answered Munger: "The reason why we do not buy is that we can buy anything to the prices we are ready to pay. It's that simple. Other people do The prices in the height, and much of the purchases are not made by the people who are truly to own the companies. "

with regard to investments in Chinese shares such as BYD and Alibaba , Munger said that China is a great modern nation. "We have invested some money in China because we get more value in relation to the strength of the company and price security than in the US," says Munger in relation to the Alibaba Investment of the Daily Journal.

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Even in terms of crypto currencies, Munger again defended his point of view. He does not regret not investing in Kryptos like Bitcoin & Co. but is proud to have avoided them. He described the digital coins as a kind of disease and gave China with his crypto ban right: "I wish they would have been banned immediately, I admire the Chinese for banned it; I think they were right, and we were right Had wrong to allow it, "says Munger.

critically, Munger also commented on index funds. Their provider and index officers would have won too much power and so he sees a power shift that the world will change the world: "We have a new pile of rulers, and those are the people who choose the shares of index funds," says Munger. About 20 percent of the US stock market are now in possession of index funds.

A danger sees Charlie Munger also in inflation. "The problems that come to us could be worse than those with which Volcker had to do, and be more difficult to fix." Munger relied and related to the so-called Volker shock of 1979/80, as the US -Notesbank The interest finally to more than 20 percent Advertising. Redaction Finanzen.net

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