{"id":188642,"date":"2021-02-24T23:36:31","date_gmt":"2021-02-24T20:36:31","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/charlie-munger-calls-out-investor-gambling-mentality-bitcoin\/"},"modified":"2021-02-24T23:36:31","modified_gmt":"2021-02-24T20:36:31","slug":"charlie-munger-calls-out-investor-gambling-mentality-bitcoin","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/charlie-munger-calls-out-investor-gambling-mentality-bitcoin\/","title":{"rendered":"#Charlie Munger calls out investor gambling mentality, bitcoin"},"content":{"rendered":"

“#Charlie Munger calls out investor gambling mentality, bitcoin<\/strong>”
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Charlie Munger, the longtime business partner of Warren Buffett, on Wednesday suggested the stock market environment bears signs of a bubble, reflecting a \u201cdangerous\u201d mentality among some investors to gamble on stocks as they would horse races.<\/p>\n

Munger, 97, was speaking at the annual meeting of Daily Journal Corp, the Los Angeles news<\/a>paper publishing company he chairs.<\/p>\n

He remains better known for his work at Buffett\u2019s conglomerate Berkshire Hathaway Inc, where he has been vice chairman since 1978. The Daily Journal meeting was webcast on Yahoo Finance.<\/p>\n

Munger said the recent surge in the share price of Game<\/a>Stop, which left some hedge funds caught in a short squeeze because they bet on a decline, reflected a horse-racing mentality toward stocks.<\/p>\n

\u201cIt\u2019s really stupid to have a culture\u201d encouraging such gambling in stocks, calling the frenzied buying of stocks only because prices are rising \u201ca very dangerous way to invest.\u201d<\/p>\n

Asked if the market now might suffer the same fate as the technology<\/a> bubble from the late 1990s, Munger said: \u201cYes, I think it must end badly, but I don\u2019t know when.\u201d<\/p>\n

Munger also addressed other topics, including the surging interest in bitcoin, which he would not own.<\/p>\n

\u201cI don\u2019t think bitcoin is going to end up as the medium of exchange for the world\u201d because it\u2019s too volatile, Munger said.<\/p>\n

He paraphrased the author Oscar Wilde\u2019s quotation about fox hunting to describe bitcoin, calling it \u201cthe pursuit of the uneatable by the unspeakable.\u201d<\/p>\n

Berkshire is expected on Saturday to release its fourth-quarter and year-end results, and Buffett\u2019s widely read annual shareholder letter.\n <\/p><\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Charlie Munger calls out investor gambling mentality, bitcoin” Charlie Munger, the longtime business partner of Warren Buffett, on Wednesday suggested the stock market environment bears signs of a bubble, reflecting a \u201cdangerous\u201d mentality among some investors to gamble on stocks as they would horse races. Munger, 97, was speaking at the annual meeting of Daily…<\/p>\n","protected":false},"author":1,"featured_media":188643,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/02\/berkshires-munger-fears-bubble.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[74862,94979,95135,72667,72388],"class_list":["post-188642","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-2-24-21","tag-charlie-munger","tag-investors","tag-stock-market"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/188642","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=188642"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/188642\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/188643"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=188642"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=188642"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=188642"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}