Old Man Yells At Cloud….
Charlie Munger, who was born in 1924 (!!!) and Warren Buffett’s right hand man, is back at it again , shouting how ridiculous he thinks cryptocurrencies areand even doubled down by saying he wished they had never been invented…Not that any of this matters one bit, Bitcoin doesn’t care what Munger or anyone thinks…but it is funny and a needed break from the current gloom out there.
Charlie Munger Wished Cryptocurrencies Were Never Invented, Anyone Surprised?
“In a recent interview for the Sydney Herald, the 97-year-old Charlie Munger once again revealed he has no plans to enter the cryptocurrency market. To him, the craze generated around bitcoin, ether, and the rest is much similar to the Internet bubble between 1995-2000. Back then, investors rushed to pump money into Internet-based startups, hoping that these fledgling companies would soon turn a profit:
“I think the dot-com boom was crazier in terms of valuations than even what we have now. But overall, I consider this era even crazier than the dot-com era.”
…It’s also worth noting that the company Munger spearheads alongside Buffett famously missed on investing early in both Amazon and Google – some of the biggest corporations in the world and, famously, part of the dot-com bubble times.
Munger – the Vice-Chairman of Warren Buffett’s Berkshire Hathaway – went even further in his latest bashing fest, wishing the asset class “had never been invented.”