Warren Buffett’s deputy Charlie Munger said markets are crazier now than in the dotcom bubble – and he wouldn’t want a crypto fan to marry into his family
Cartoon courtesy of MichaelPRamirez.com
“The dotcom boom was crazier on the valuations even than we have now. But overall, I consider this era even crazier than the dotcom era. You have to pay a great deal for good companies and that reduces your future returns.” – Charlie Munger, Berkshire Hathaway
USAGOLD note: The 97-year old Munger speaks his mind at the Sohn Hearts and Minds Investment Conference in Australia. He also said China was right to crack down on debt in the economy – to “step down hard on booms and not let them go too far.” Wall Street, as the Ramirez cartoon suggests, has blown quite the speculative bubble over the past couple of years to what end no one really knows.