Charlie Munger

Tyler Durden's picture

Gold, Stocks, Oil... Choose One





Would you rather have one “Share” of the S&P 500 at $2,124, or 41 barrels of crude oil, or 1.86 ounces of gold? Yes, they are all worth the same amount at the moment, but the price relationship between the three has shifted over the decades.

 
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Beware Of Greeks Bearing Referenda





It appears the sovereign peoples of Europe would not go gently into a Federal States of Europe night. Investors need to prepare for the inevitable political solution: referendums across Europe on the constitution of the Federal States of Europe needed to sustain the Euro. Events this weekend will trigger the search for the democratic legitimacy for the single currency and the centralised constitution it requires... or the demise of the unelected 'king Juncker' and 'queen Lagarde' of the Federal States of Europe.

 
Capitalist Exploits's picture

How to Enhance Your Circle of Competence





A simple method that can boost your chances of investment (or any other) success

 
Capitalist Exploits's picture

This Country Offers More than Just Discounted iPads





Everyone likes to buy things at a discount, right?

 
Tyler Durden's picture

How To "Measure" Risk





While investor behavior hasn't sunk to the depths seen just before the crisis, Oaktree Capital's Howard marks warns, in many ways it has entered the zone of imprudence. "Today I feel it's important to pay more attention to loss prevention than to the pursuit of gain... Although I have no idea what could make the day of reckoning come sooner rather than later, I don’t think it’s too early to take today’s carefree market conditions into consideration. What I do know is that those conditions are creating a degree of risk for which there is no commensurate risk premium."

 
Tyler Durden's picture

Charlie Munger Compares Greece To a "Frivolous, Drunken Brother-In-Law"





Having previously effused over gold and holocaust jews, bailouts, and handouts, Buffett & Munger took aim at Europe, well more implicitly Greece, during today's annual octagenerian-fest.

Munger on Euro strains: You shouldn't create a partnership with your drunken, shiftless brother in law.
And Buffett's (implicit Grexit) retort: the euro can and probably should survive but it will take some changes...

As he previously said, Germany must stop Greek dog peeing on its rug.

 
Tyler Durden's picture

Rising Police Aggression A Telling Indicator Of Our Societal Decline





The lines have been drawn in many police departments: it’s us vs. them. Trust in many departments has been utterly shattered within some communities because the police hold themselves to a different standard than they do the populace.  But the recent cases of police brutality are simply a symptom of a much larger problem. Society in the US is breaking down, civility has been lost, and the country is rapidly becoming uncivilized. This extends within and across all of the most important institutions.

 
Tyler Durden's picture

Portrait Of American Oligarchy: The Very Troubling Income & Wealth Trends Since 1989





"Not everything that is faced can be changed; but nothing can be changed until it is faced." - James Baldwin

 
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Another Oligarch Preaches To The Peasants: Charlie Munger Says "Prepare For Harder World"





“If you’re unhappy with what you’ve had over the last 50 years, you have an unfortunate misappraisal of life...  should all be prepared for adjusting to a world that is harder..."

 
Tyler Durden's picture

Flash Boys' Michael Lewis Warns "The Problem's Not Just HFT, The Problem Is The Entire System"





As HFT shops begin to turn on each other, it seems appropriate to reflect on the impact that Michael Lewis' Flash Boys book had on exposing the ugly truth that many have been discussing for years in US (and international) equity (and non-equity) markets. As Lewis concludes, after explaining the attacks he has suffered from the HFT industry, "If I didn't do more to distinguish 'good' H.F.T. from 'bad' H.F.T., it was because I saw, early on, that there was no practical way for me or anyone else... to do it. ...  The big banks and the exchanges [have] been paid to compromise investors’ interests while pretending to guard those interests. I was surprised more people weren’t angry with them."

 
Tyler Durden's picture

Warren Buffett - Lucky Coin Flipper?





Last week, Buffett moved the goalposts.  If money were what really matters, Warren Buffett would have no peer. He has had unparalleled success in this world; surely he has a first-class ticket to the next. And if his good fortune were of his own making, what would he have to fear? But what if fortune, which smiled on him so broadly for so many years, begins to frown?

 
Tyler Durden's picture

Buffett On Europe: Germany Must Stop Greek Dog Peeing On Its Carpet





Not to be outdone by his partner Charlie Munger (who offended many with his comments that "gold is a great thing to sew onto your garments if you're a Jewish family in Vienna in 1939,"), Berkshire Hathaway's Warren Buffett decides to take on Europe (and The Big Lebowski), and particularly the Greeks in today's 'perhaps it's time to just STFU' moment. Responding to questions about Europe's future, Buffett compares Greece to a "dog peeing on the carpet" of Europe, suggesting Germany stop "rewarding behavior you want to get rid of."

 
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Warren Buffett Releases Monster 43-Page Half-Century Letter To Berkshire Faithful





The day the Buffet "value-investing" fanatics have been looking forward to all year, almost as much as the annual pilgrimage to Omaha, has finally arrived - hours ago Warren Buffett released his historic, 50th annual letter to shareholders, which is extra special because as the Oracle notes in the foreword, "Fifty years ago, today’s management took charge at Berkshire. For this Golden Anniversary, Warren Buffett and Charlie Munger each wrote his views of what has happened at Berkshire during the past 50 years and what each expects during the next 50."

 
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