Berkshire Hathaway on CNBC Charlie Munger

Managing Real Estate Broker with ERA American Real Estate

While catches the headlines and rightfully so the vice president Charlie is a large resource thats not as widely covered. He is now 99 years old. I feel confident he is a strong believer in America and while Buffett is known to say never bet against America I tend to think Mr. Munger is in the same boat. 

He has moved the company into investing in China with different ventures. He makes the point that both sides are equally as stupid and we both could benefit from trade on cooperation. While I will leave the fact of Tik Tock out of it with what from all accounts seems to be targeting teens in America to commit suicide, I tend to look past his statements as he has stated hes not the tech guy, both he and the CEO have shared that. 

The company has had great managers and they have had great fortunes as a result of sticking with managers for decades. The annual meeting called financial woodstock wouldnt be the same without him. He had a plaque on his table that says hold to maturity and Buffetts stated available for sale. They revealed these turned over half way through their day which started at 10:30 and with a lunch break otherwise went nationally televised till 3:30 then closed for the annual meeting with shareholders. They knew they would have questions on the banks failing and that was to address them. They know if you showed up to the meeting you likely understood and didnt receive questions on the plaques, this was saying as a reminder without saying always keep your bonds if your a bank up for sale and put them on your books and if not then keep them till maturity and dont be leveraged on those that you hold and likewise t bills. 

People ask question like given your criticism of the mdna not known long term effects from taking the treatments do you stand by your statement, he answered "sure"

They moved onto the next question many vice presidents couldnt get away with this and Buffet said of a couple comments hes 99 he doesnt have to concern with long term. 

Munger also shared his advice "hold the god damn stock"

He has predicted the .com crash in 2000 and he predicted the crypto crash. I believe in .com and the internets future which few disagree with anymore but he was right, I also believe in cryptos future which is yet to be fully displayed. 

The thing that we are starting to see is even the Berkshire Hathaway couldnt be saved as a company with its textile business that is where the name came from. This has been happening for decades but more has been written and played out in documentaries as of late with both sides of the political side promoting now buy in America. 

The best selling economic book of all time was mention both agreed well written book and you learn from it sound value investing, but Munger pointed out that the writer and investor Ben Graham had his best return in Geico which was a growth stock, he pointed out that most of Mr Grahams money actually came from that trade.  

Buffett said this weekend of Munger He was an attorney with a great mind that couldnt stand giving out advise to people that didnt use it. 

He said there were a half dozen times in the companies history he would ask Charlie about major decisions and he said within a minute he would have a solution, and Buffett stated he believes he is the only mind in the world that would of been able to come up with out of the boxing thinking like that. 

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Brandon Jordan, Realtor,E-PRO,ERA American Real Estate

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