Charlie Munger, Vice Chairman of Berkshire Hathaway, expressed confidence in the company's investments in Chinese firms and warned of potential excesses in the stock market, cautioning against the speculative element. He dismissed cryptocurrencies as a "venereal disease" and highlighted the need for liquidity reform to reduce speculative investing. Munger discussed various topics at the shareholder meeting, including the pandemic's impact on the workforce and rising government deficits. He supports renewable energy but advocates for conserving hydrocarbons. Munger admires governmental safety nets and realistic expectations, urging investors to seek value in investments.
Full transcript: https://junto.investments/charlie-munger-daily-journal-2022-transcript/