28 Burst results for "Charlie Munger"

Journalist Natalie Winters on Big Tech's Attempt to Silence Trump Supporters

America First with Sebastian Gorka Podcast

01:39 min | 2 months ago

Journalist Natalie Winters on Big Tech's Attempt to Silence Trump Supporters

"Think that when it comes to big business the framing of it. It's not a uniquely chinese communist party issue. i think it's it's the issue that one. These firms started outsourcing their labor their manufacturing capabilities. I think their allegiance followed. And you know a lot of these these big corporations. They want the open borders. They want the cheap labor. But i've always said that you know. These open borders work both ways in the sense that they want cheap labor and and they want to send jobs out. They want to send our manufacturing capabilities outwards. And and i think it's you know you don't even have to kind of speculator or make guesses as to where their their allegiances and ideologies lie. Charlie munger who is big guy in finance but guy business He said quote china to the right thing and response to how the chinese government treated. Jack ma blue. Jack ma is is. No hero is still a member of the chinese communist party but as someone who who the chinese government kind of tried to just person and do away with because he wanted to maybe get a little creative In terms of innovation and the anchor rubai which is an offshoot of of alibaba but he sat in an interview. China was right how they handled him. And i think that just shows you and that speaks to what i was talking about in the beginning. Which is this idea of elite merger as opposed to just elite capture. In the sense that you know. I think frankly and you're talking about big business. I think it's hard to not talk about big tech. You know what. The chinese communist party did to jack. Aw i think is really what big tech in big business wants to do to trump supporters

Jack Ma Chinese Communist Party Chinese Government Charlie Munger Alibaba China Jack
"charlie munger" Discussed on Squawk Pod

Squawk Pod

03:01 min | 5 months ago

"charlie munger" Discussed on Squawk Pod

"Why <Music> <Advertisement> <SpeakerChange> <Speech_Music_Female> <Speech_Female> <Speech_Male> <Silence> <SpeakerChange> you don't <Speech_Music_Female> to let them down <Speech_Music_Female> <Advertisement> you two <Speech_Music_Female> have been friends for over <Speech_Music_Female> sixty years and i'll just <Speech_Music_Female> ask you one final question. <Speech_Female> What's <Speech_Female> one thing that you <Speech_Female> really <SpeakerChange> admire <Speech_Male> about the other <Speech_Male> humor <Speech_Male> but <Speech_Male> dependable is really <Speech_Male> important. <Speech_Female> Why wouldn't you admire <Speech_Female> about charlie. <Speech_Male> <Speech_Male> I i <Speech_Male> admire <Speech_Male> <Speech_Male> really. <Speech_Male> Just the kind of person <Speech_Male> has been. I mean <Speech_Male> he is a <Speech_Male> is <Speech_Male> <Speech_Male> contributed <Speech_Male> <Speech_Male> to <Speech_Male> give an individuals <Speech_Male> and also the <Speech_Male> society <Speech_Male> goes <Speech_Male> well <Silence> beyond <Speech_Male> buying <Speech_Male> stock and selling and <Speech_Male> higher. He's <Speech_Male> designed dormitories <Speech_Male> and help build <Speech_Male> them. It's an <Speech_Male> uphill fight all the time. <Speech_Male> But charlie has worked <Speech_Male> on big problems <Speech_Male> these and <Speech_Male> he doesn't need <Speech_Male> to but <Speech_Male> all <Speech_Male> the time <Speech_Male> you know i mean <Speech_Male> totally never shaded <Speech_Male> anything. <Speech_Male> He's told me <Speech_Male> you <Speech_Male> know since we met in <Speech_Male> terms of <Speech_Male> presenting a to <Speech_Male> me in a <Speech_Male> different way than reality. <Speech_Male> Or he's never. <Speech_Male> He's never done anything <Speech_Male> i've seen. That's <Speech_Male> self <Speech_Male> serving germs <Speech_Male> of <Speech_Male> being a partner <Speech_Male> or <Speech_Male> any kind of way <Speech_Male> <Speech_Male> he <Speech_Male> ate makes me <Speech_Male> better than <SpeakerChange> i would. Otherwise <Speech_Male> be. don't want <Speech_Male> the same thing <Speech_Male> in reverse. Yeah <Speech_Male> well it works. <Speech_Male> It does work that way. <Speech_Male> I mean it's <Speech_Male> better to associate with <Speech_Male> people are better than you <Speech_Music_Male> are <Speech_Music_Male> really is. <Speech_Male> <Speech_Male> <SpeakerChange> It <Silence> really helps <Speech_Male> and if <Speech_Male> you associate with people are <Speech_Male> worse than you are. I mean <Speech_Male> you are really trouble. <Speech_Male> I mean you're you're <Speech_Male> going to you're going to descend <Speech_Male> into it. <Speech_Male> I went through that three <Speech_Male> or four month period. <Speech_Male> <Speech_Male> Now <Speech_Male> i was reacting to some <Speech_Male> other things. But i started <Speech_Male> you <Speech_Male> know when the other kids stole <Speech_Male> some stuff <Speech_Male> and i was not going <Speech_Male> the right direction <Speech_Male> <Speech_Male> and <Speech_Male> you wanna want people <Speech_Male> going in a better direction <Speech_Male> to <SpeakerChange> <Speech_Female> <Speech_Female> ten minutes. <Speech_Female> Thank you both very much <Speech_Female> for your time today. We <Speech_Female> really appreciate it. <Speech_Female> That's great <SpeakerChange> <Speech_Female> thank. You gentlemen <Laughter> <Laughter> <Advertisement> <Speech_Female> <Advertisement> rather be in jail <Speech_Female> <Advertisement> <Speech_Female> <Advertisement> then <SpeakerChange> work in a <Speech_Music_Female> <Advertisement> corporation <Speech_Music_Female> <Speech_Female> and that's <Speech_Female> squawk pod for today <Speech_Music_Female> and for the week. <Speech_Female> Thank you for listening <Speech_Music_Female> to a wealth <Speech_Female> <Advertisement> of wisdom our <Speech_Female> <Advertisement> special series with <Speech_Female> <Advertisement> the two hardest working <Speech_Music_Female> <Advertisement> ninety. Something's around <Speech_Music_Female> <Advertisement> warren buffett. <Speech_Music_Female> <Advertisement> And charlie munger <Speech_Music_Female> <Advertisement> squad. Pod <Speech_Music_Female> <Advertisement> is produced by me. <Speech_Music_Female> <Advertisement> Katie kramer cameron <Speech_Music_Female> <Advertisement> kosta and carolina. <Speech_Music_Female> <Advertisement> Brian this <Speech_Music_Female> <Advertisement> podcast is edited <Speech_Music_Female> <Advertisement> by john. Laceration <Speech_Music_Female> <Advertisement> special thanks <Speech_Music_Female> <Advertisement> to becky quick. <Speech_Music_Female> Cnbc's managing <Speech_Music_Female> <Advertisement> editor lacy of tool <Speech_Music_Female> alex crippen <Speech_Female> the mastermind <Speech_Female> behind the warren buffett. <Speech_Music_Female> Archive buffet <Speech_Music_Female> dot. Cnbc dot <Speech_Music_Female> <Advertisement> com and thanks <Speech_Music_Female> <Advertisement> to the nebraska state <Speech_Music_Female> <Advertisement> archives <Speech_Music_Female> <Advertisement> and hate like <Speech_Music_Female> <Advertisement> and follow scoff <Speech_Music_Female> <Advertisement> pod. Wherever <Speech_Music_Female> <Advertisement> you listen leave a rating <Speech_Music_Female> <Advertisement> or write a review <Speech_Music_Female> <Advertisement> if you're so inclined <Music> <Advertisement> tweet us at <Speech_Music_Female> <Advertisement> squawk cnbc <Speech_Music_Female> and have a <Speech_Music_Female> great weekend. We'll <Speech_Music_Female> be back here on <Music> monday. <Music> <Music> <SpeakerChange> <Silence> <Speech_Music_Female> <Advertisement> <Speech_Female> Outlast <Speech_Female> means pg <Speech_Female> brings long-term experience <Speech_Female> actively <Speech_Female> investing through <Speech_Female> thirty market cycles <Speech_Female> to deliver <Speech_Female> for our clients <Speech_Female> joined the pursuit <Speech_Female> of outperformance <Speech_Female> at pg dot com. That's pg im dot com.

"charlie munger" Discussed on Squawk Pod

Squawk Pod

05:29 min | 5 months ago

"charlie munger" Discussed on Squawk Pod

"Or but.

"charlie munger" Discussed on Squawk Pod

Squawk Pod

07:38 min | 5 months ago

"charlie munger" Discussed on Squawk Pod

"Charlie's my charlie's mike and this is warren's mike orange mac. This is squawk pod i'm cnbc producer. Katie kramer today. The final episode of a wealth of wisdom our four part series with warren buffett. Becky quick sits down with the oracle of omaha after one of the year. That people don't know as much as they think they know. But the biggest thing you learned is that that make was bound to occur and this isn't the worst imaginable all went buffet and partner. Charlie munger learned in there. Oh about six or seven decades watching the economy or the things about the system. Though is you can't take all the archbishop of work well work and staying humble billionaire. Not wealth doesn't change. People make some more solid they're jerks to start with beggar. Jerks outspoken and honest the ninety and ninety seven year old berkshire best friends on stimulus. The pandemic and the wisdom of age confidently good millennials. Are you going to have a much harder time. Getting rich than our generation did plus only in this podcast becky. Quick on what. She's learned from warren buffet. It's not a complicated lesson. You should surround yourself by people who inspire you and people. You don't wanna disappoint. Because that's that's what it's all about right just making sure that we're all are it's friday. July ninth twenty. Twenty one never saw thanks. Squawk pod begins right after this outlast means. Pgn brings long-term experience actively investing through thirty market cycles to deliver for our clients joined the pursuit of outperformance at pge dot com. that's pg i. Im dot com. You're listening to squawk thaad from cnbc. And today we are wrapping up a special unscripted conversation. Squawk box is becky quick. And about a hundred ninety s years of business. Wisdom warren buffett. And charlie munger. This is our fourth and final podcast on the wealth of wisdom of these two men. We've heard from the oracle of omaha and his right hand man on the lessons of their younger days in business taking the high road. Risk and robin hood. You can listen at any time if you're a follower of squawk pod. The entire series is in your feet buffett and munger ninety and ninety seven to nebraska natives. Who have been friends for more than six decades and business partners for more than five. They built berkshire-hathaway into one of the largest companies in america a conglomerate owning railroads car dealerships insurance providers party favors candy and ice cream. It's a six hundred billion dollar plus powerhouse myself. Hold up here. So here's what we're gonna do. Becky quick has been covering berkshire and buffet for years. We hopped on zoom awesome. Yeah great okay to talk about the personalities of these two partners and good friends they are very simple level. They don't get caught up in a lot of bs again. It's refreshing gotta fun to see and the irreverence that they bring to. It is probably the most fun. I remember the first time i ever interviewed. Charlie wow it was. It was longtime ago at one of the berkshire hathaway annual meetings. I had set up something where i was going to get to sit down with them at a time. I think i was more nervous walking into that interview than any our view. I've ever done because i knew enough from watching charlie that if he thought i was stupid he'd tell me thought it was a dumb question. Tell me first of all. Thank you very much for joining us. Today i've always prepared and study and tried to walk into those interviews prepared ready to go and against the situation where you listen. Listen hard people were always quoting mark twain. Perhaps as apocryphal history doesn't repeat itself but it rhymes for the record. Becky does not ask them questions. Here's one of her first interviews with warren buffet at the two thousand six berkshire annual meeting. Now you still have more than forty billion dollars in cash. I'm guessing he's still looking around of other looking all the time. They don't plan any time. They sit down for any every or for the annual meeting. They never talk things out in advance or say who's going to say what it's just fun to watch their minds work and how they play off each other and have money. They the this inside. That'd be perfect. Becky sat down with buffett and munger in charlie's backyard and california and they hit on an idea. That has some poignancy now but that warren buffett has been talking about for years. He is very very bullish on america. And its continued and continuing. Promise here is. Nineteen ninety-seven does awfully well and encouraging adaptation and in two thousand four despite a war in iraq and increasing consumer debt. There's always problems in the future. There are always opportunities in the future and in this country the opportunities have won out over the problems over time in two thousand nine just months after a devastating credit meltdown helped to plunge the us into its worst economic crisis since the nineteen thirties. The one thing i know is over time. Dick will live better and better and this country and last year in twenty twenty and a stark virtual annual meeting. Buffet had a message about getting through hard times. We're dealing with a virus that spreads its wings in a certain way know. There's all kinds of possibilities. But i definitely come to the conclusion after weighing all that sort of never bet against america saw thanks. Thank you and we'll see you next year. This country is far better situated. Don't what i was born. And i was born at the optimum time in nineteen thirty up to that point in the optimum place american a male which had a big set of advantages attached to it. At the time it's better now than it was then But i was lucky that one hundred years early earlier and wall street business. It's made them. I mean it is producing the goods and services that that people like so much better than their goods and services. They were receiving when i was born. It's worked It can work a lot better in my view. But that'll always be true. And you would hope that that anybody that was willing to work forty hours a week in an economy prospers would not have trouble raising a couple of kids. There's a lot of goods and services available in this country and there's always should be rewards for bring four things that are useful to society and we're rich enough now where we essentially can can have decent medicine decent education For everybody and some people don't fit well in a capitalist system. i wouldn't fit well into an athletic system. I mean if it really paid off whether you could a box the best you could give me. Boxing lessons seven hours a day. And i could read all kinds of books into everything else and and the i find out what happens with.

warren buffett Becky quick Charlie munger mike orange Katie kramer berkshire omaha becky charlie oracle hathaway Charlie buffett cnbc Pgn warren Becky
"charlie munger" Discussed on Squawk Pod

Squawk Pod

04:35 min | 5 months ago

"charlie munger" Discussed on Squawk Pod

"We start.

"charlie munger" Discussed on Squawk Pod

Squawk Pod

06:42 min | 5 months ago

"charlie munger" Discussed on Squawk Pod

"Is warren's mike warns this is squawk pod. I'm cnbc producer. Katie kramer today. Part three of a wealth of wisdom. Our four part series with warren buffett. Becky quick sits down the oracle of omaha at nearly ninety one. He bought his first stocks. In the aftermath of the great depression i think that the pendulum also swings to better country overtime. I think it's a better country now than it was. What we started should be putting some of today's market mechanisms in perspective with buffets longtime partner and vice chairman. Charlie munger contributed greatly the great depression. It will create terrible future. What the hell good is a total return swap doing the united states. Why the biggest gambles may not yield the biggest profits robinhood. Bitcoin no need to swing for the fences. Take it from the billionaires or the swingers here in this country started naming and looking at a global power. The communist chinese. Behave the way i am talking in favor of our own. Wonderful free enterprise. Economy is letting all these crazy people go to grow success. He's unique take on china's regulatory and political power berkshires builder. Charlie munger communist. Did the right thing is called jack and say you are going to do to lifetimes of investing insights from berkshires. Billionaire besties plus becky quick on knowing them both. There's just such careful students of history. What's happened before history may not be the same but it certainly limes over six or seven decades of actually doing these deals and big. It's pretty easy to see biblical greed. Gluttony these are the types of things that come back again and again. It's thursday july eighth twenty twenty one. Squawk pod begins right after this outlast means. Pgn brings long-term experience actively investing through thirty market cycles to deliver for our clients. Join the pursuit of outperformance at pg dot com. That's pg im dot com. What exchange is now a podcast. I'm brian sullivan. Join me as we hit the biggest money stories from around the world breaking down the risks and rewards of global trade. The news you need to know with real world actionable advice even a little fun and unique content. You won't get anywhere else like the most random but interesting thing you'll hear all day subscribe to the worldwide exchange podcast today. This is squawk pod from cnbc. Investors partners and longtime friends ninety year old horn buffet in ninety seven year old. Charlie munger share and outspoken nature like buffets answer to this question from a shareholder at the nineteen ninety-four berkshire hathaway annual meeting. What is your next goal in life. Now that you're the richest man in the country that's easy. It's the all those man in the country or this timeless wisdom from munger at another installment of woodstock for capitalists to thousands meeting of berkshire shareholders. If you mix the mathematics of the chain lever the ponzi scheme with trump legitimate development development of the internet. You are mixing something which is wretched irrational and has bad consequences with something that has very good consequences. But you know it makes raisins with turds. They're still turds running. An investment portfolio with three hundred billion dollars with holdings in stocks like apple bank of america coca cola among many others buffett and munger refused to chase fats that stray from fundamental market analysis. It's not always popular like their take on bitcoin. Bitcoin is worthless artificial gold. Bitcoin is ingenious. And blockchain is important but bitcoin has no unique value at all. It doesn't produce anything you can stare at it all day and the little bitcoins. Come out or anything like that. It's it is a a delusion. Manziel damn development as disgusting and contrary to the interests of civilization or free trading robin hood. Here's munger earlier this year. I just god awful. Something like that would draw. Investment from civilized man decent citizens honor simplicity in his annual letter published in early twenty fourteen. Buffet advised investors to play it safe. He wrote keep things simple and don't swing for the fences when promised quick prophets respond with a quick. No buffet his right hand man. Charlie munger have strong about those who take the really big swings. I spoke to becky quick on zoom about their more cautious approach. There aren't a ton of business leaders around who have experienced of the economic history of so much of the twentieth century Like buffett and munger do. Yeah i mean they both come from an era. I think when if you were a businessman your word was good enough right. If you told somebody do a deal you did it. And most of the deals that they've cut could be written on a page In in terms of have expect those deals to go down. I think it makes them nervous when somebody wants to get into some really deep legal legalese and hire a bunch of consultants because then you're just getting further and further away from you know. Here's what we're going to do and let's do it again. These are like universal lessons that yes if you wanna just do a deal with somebody don't get a bunch of agents and lawyers and and bankers and other people through it. It's not that they don't ever bring anything of value to the table. That's that's not it. It's just d- you always need. All all of those different layers layers complication leverage and certain financial weapons of mass destruction like a total return swap all dangers that buffets and muggers grounded beliefs are against a little investors dictionary for you. A total return swamp is a financial derivative that allows an investor like a hedge fund to invest in an asset without owning it. The user takes on the possible profits and losses of a portfolio in exchange for a fee from a bank or broker swamps can allow an investor to take huge positions for limited cash. Upfront basically just manner a little bit. I we've got to our. Becky spoke to the friends of six decades at charlie mongers home in los angeles..

Charlie munger Katie kramer depression berkshire shareholders warren buffett Bitcoin cnbc becky munger brian sullivan apple bank of america Becky Pgn omaha warren Manziel oracle buffett berkshire hathaway
"charlie munger" Discussed on Squawk Pod

Squawk Pod

05:10 min | 5 months ago

"charlie munger" Discussed on Squawk Pod

"Out to be billions of dollars tens of billions of dollars or even mark in the early nineteen seventies buffett. And munger were trying to grow their conglomerate using the companies they already owned to acquire more and it didn't always work out. There was screaming crooked lawyers crooked people and the judge told him to quit doing something that they were doing was groggy have and they had the ability because of the laws of agency and a whole bunch of things it suck the man who signed the dumb contract with. he's terrible we will was the prophets. Were unreasonable to get associated with bad. Associate we've had people of course you're gonna have losses and we that you worry about. I mean we were a lot. Yeah we got a couple of we. Don't worry about if we lose money in something we lose money and we're going to lose money in something but but we'll make money over time But it takes something out of your life and in this particular case it caused us to be have to be very cautious at a time when opportunities were screaming because we did not know what these guys they were out. Every day saying our name to policies that a judge would probably say had a right to not because Well they had a parent agency and the judge told them to stop. They kept doing it every piece of paper. They had it out with our name on it. That was and stocks. Were right at their cheapest. So how'd you get out of the deal in the nineteen seventies. How'd you get out of it. We just soldier our way through. We finally stopped it. I crossed the ocean a few times even but we lost a lot of money but it was the aspect that we really going back. Three million dollars. You know all three million but this this was something that's our name in effect but we have no like that for a great many interesting thing is. I didn't make the original deal when you saw these guys. Finally it was like they had a neon sign on there. For the said crook kirk crooked. These well disguise now they. That's what people representing them that the just the soul of staid respectability floodings birds during becky. Sit down in the backyard with warren buffett charlie munger a recent headline came up credit suisse's five and a half billion dollar loss stemming from its business with over levered arca goes capital management a family office with limited disclosure requirements that had slain of investments that plummeted in late march of this year forcing credit suisse to sell large stock positions at a loss. Think about massively stupid. And of course it was the lure of the really easy money the was paying you being the prime broker for a jerk but he was convicted insider trader that came out of the craziest part of the hedge fund industry and they were getting unusual profits by extending unusual credit. I mean it was just. The world was shouting at croke fool. And they didn't listen. They thought this is where the easy one he is crooked pools. There's one rule a long time always it. You can't make a good deal with a bad person. just forget it now. If you think you could drop contract. That is going to work against a bad person. They're going to win but one thing they probably enjoy litigation and you know and they don't they know more about it than you do. I one thing i've had just don't have lawsuits. I mean we're an insurance visitors some legal but berkshire hathaway an entity or may personally or anything. But it'll get what we don't want to spend our life doing that sort of thing at and besides the bad guys win that they don't more games they may lose eventually in the but there's no way to spend your life. China wasn't just credit. Suisse that got pulled in by that there were a lot of firms that were doing business with goes and yes yes. They were all foolish. But credit suisse managed to boost full of all. No fulls here. We'll.

munger crook kirk credit suisse charlie munger warren buffett arca becky berkshire hathaway Suisse China
"charlie munger" Discussed on Squawk Pod

Squawk Pod

01:42 min | 5 months ago

"charlie munger" Discussed on Squawk Pod

"Warren buffett. And charlie munger have been business partners more than five decades. We were sort of made for each other. We've never had an argument in this whole time. We are strong minded in that time. The pair have built berkshires. Unique portfolio companies brands like the nsf. Railway geico duracell see's candies and basically left them alone. The way to get a good partner was to be a good partner and these are very effective ideas and they just work so fabulously well and they worked so well at berkshire. I caught up with squawk box. Anchor becky quick. Hi how are you. I'm good how are you over. Zoom about the buffett. Munger magic neither one of them ever really wanted to work for bosses or have a boss or work in corporate culture. They both said that they wouldn't survive it. They'd get fired. And i think that's why berkshire is the way that it is. They like to let people have their autonomy. They like to let the. They've got more than sixty businesses that they own outright and they let the managers run those businesses for a company that is now one of the ten biggest companies in the world by market capitalization. It's an incredibly decentralized organization. I mean there's twenty five people at the headquarters in omaha which by the way they don't even have a building that they run their corporate headquarters out of they. They lease a couple of floors from somebody else. And that's where the whole thing's run run from. If i were to tell you the details of this you'd think it was a scam. You know that. I'm going to tell you about one of the ten largest companies in the world. That's run out of these. Two floors in our mohammed. Twenty five people Okay yeah where. Where's the bridge that you want to sell me on top of that right.

Charlie munger Warren buffett berkshire andrew ross Railway geico duracell Hathaway becky quick cnbc nebraska oracle the new york times carolina Andrew nsf Munger omaha mohammed
Warren Buffett & Charlie Munger: Taking the High Road

Squawk Pod

01:42 min | 5 months ago

Warren Buffett & Charlie Munger: Taking the High Road

"Warren buffett. And charlie munger have been business partners more than five decades. We were sort of made for each other. We've never had an argument in this whole time. We are strong minded in that time. The pair have built berkshires. Unique portfolio companies brands like the nsf. Railway geico duracell see's candies and basically left them alone. The way to get a good partner was to be a good partner and these are very effective ideas and they just work so fabulously well and they worked so well at berkshire. I caught up with squawk box. Anchor becky quick. Hi how are you. I'm good how are you over. Zoom about the buffett. Munger magic neither one of them ever really wanted to work for bosses or have a boss or work in corporate culture. They both said that they wouldn't survive it. They'd get fired. And i think that's why berkshire is the way that it is. They like to let people have their autonomy. They like to let the. They've got more than sixty businesses that they own outright and they let the managers run those businesses for a company that is now one of the ten biggest companies in the world by market capitalization. It's an incredibly decentralized organization. I mean there's twenty five people at the headquarters in omaha which by the way they don't even have a building that they run their corporate headquarters out of they. They lease a couple of floors from somebody else. And that's where the whole thing's run run from. If i were to tell you the details of this you'd think it was a scam. You know that. I'm going to tell you about one of the ten largest companies in the world. That's run out of these. Two floors in our mohammed. Twenty five people Okay yeah where. Where's the bridge that you want to sell me on top of that right.

Railway Geico Duracell Becky Quick Charlie Munger Warren Buffett NSF Munger Berkshire Omaha Mohammed
"charlie munger" Discussed on Squawk Pod

Squawk Pod

01:55 min | 5 months ago

"charlie munger" Discussed on Squawk Pod

"Do create customer loyalties. We a hundred and twenty page catalog. I mean people. They picked up their stamps at grocery checkout counter forgot their change. I mean it was. They were distributed through mortuaries. And everything i mean it was. It was a huge huge craze and time and we redeemed all our stamps. now the other companies just disappeared. I mean had they just disappeared. You couldn't find a place to reading the stamps. Charlie kept redeeming stabs. Either i mean we got as long as we have established everyone. I don't know how how long we had. We had a little chapter redemption center for years after we stop so stamps so we. I don't think any other stamp company really did that. But we had the use of the money for a time when we bought berkshire join us tomorrow on squawk on buffet buys buys more our special podcast series on the fact story. Warren buffett and charlie mongers. Wealth of wisdom continues. Stay tuned for how to be honest with your friends. it was working for client. He thought he was the clients. And of course it was. But that's really not a level. You don't want to radiate that one ninety seven year old finds a pandemic silver lining or low was. That's all coming up this week on squawk pot special thanks to becky quick and cnbc. Managing editor lisa tool. And thanks to you like and follow squad pod wherever you listen to podcasts. And we'll meet you back here tomorrow. Outlast means pg brings long-term experience actively investing through thirty market cycles to deliver for our clients. Join the pursuit of outperformance at pge dot com. That's pg. Im dot com..

charlie mongers Charlie Warren buffett becky quick lisa tool cnbc
"charlie munger" Discussed on Squawk Pod

Squawk Pod

07:33 min | 5 months ago

"charlie munger" Discussed on Squawk Pod

"All the early businesses that we bond together disappeared. They didn't disappear. They fail if we took so much out of them before they failed. We still worked out fine for us. Well we went onto you. We evolved the. I mean but but literally the three base businesses all ended up disappearing went out of business. They didn't. They no longer fit into society to sensor and actually the the first the very first deal that we joined in on something called diversified retailing which was in baltimore. We bought an apartment star there and we had sandy goddess had ten percent charlie at ten percent and has partnership be denver's and and i had eight percent in our partnership of the three of us and we always treated as we may have had eighty but we were equal partners and we put six million dollars into that. We call it a diversified retail. But we only had one department charge and and we had a lot of fun with that but we also saw after we were in a little while department this department store. We realize big mistake as the dry. Take very long what happened. Let me out of this trap. I decide. I don't like the cheese. We just wised up. The fact that it was one tough business we bought into the cellars and maintain good decision. We made a bad one. It was at howard and lexington street in baltimore which was the busiest corner at all. Four department stores there hustler's stewart's hotel goal and that's our store and hacked and none of those four stores are there ain't more and that was number one in traffic count an ego to howard lexington street and there's nothing there now. So the streetcar tracks may have gone there at one time but the street here attracts aren't important anymore. So we made a mistake and we had. We had some terrific people who are running for that. We're actually related to sandy's wife As honorable honorable people that smart. If you're losing money in a business with a smart decent person we got a problem. That's the business used a smart decent person to move them over some other place at move the capital some other place. The company was not yet losing money but we can see we soon realize it was about to lose much. Yeah and and and so. We sold apartments to our went out of business in nineteen eighty three but hunters which was the silk stocking department store. They went on business in one thousand nine hundred five or six. They're god and and the people that are quite understandably wanted to build more branch doors. But you don't want to put more money into a business. Dustin prevail you now. We put six million dollars a capital in that a dumb decision everything. But that's six million. What would it be worth now. Charlie they got four tenths of a share any billions tens of billions. Yeah tens of billions out. The department started succeeded. We'd have a nice little business. Sent us a little check but because it failed we've made twenty five more than twenty five in denmark like at the time so when you realized it was a mistake. What did you do how how did you. We ask sandy. Who is the best sales when august to go sell it and we sold it and We put the money into berkshire. We got about ninety five percent of our money back. Put the money into and we'd borrowed six million dollars in there so now we had so we. We bought burr shocking. We bought blue-chips down stock and eventually put it all together. It looked like a plate of spaghetti at one time which was not good as complicated and so we put them all together. And you know i've still got stock. Charlie still got stock that came out of doors. I'd retailing as to number of my partners at From the old days it it was the best thing to happen to this place. Fail obviously was a failure. Why what did you learn quickly. Yeah and used the capital someplace else. I mean it was it. One thing we've learned is it's clear that something is a mistake is to fix it quickly. It doesn't get better by your wait as the saying goes to make an omlund. You gotta break a few eggs around. Nineteen seventy warren buffett and charlie munger started investing in a well. Capitalized company called blue chip stamps. It was a loyalty program like your frequent flyer miles of the cardi. Swipe at the local grocery store a customer win by something at a store and be given x number of stamps for my dollar spent you save up your stamps and buy something special. A lawnmower something to the house. so what. what was it about blue chip that you liked. What attracted you to that. They had a huge amount of cash securities on hand from the float. They sold the stamps for cash. Didn't after redeem them for toasters radios and so forth until much later and so it was a big float business and we bought the equity very cheap. There were began trust attacks against blue chip stamps. And it did not have an immaculate conception no and a group of very big oil companies and retailers together because they were worried about sperry and hutchinson which was the big stamp company. Means something coming coming out to california so they defensively form their own operation. And and so the actually. The big company didn't like the little cup and it was a it was a complicated situation but fag. It was complicated actually meant the stock was quite cheap and charlie and i and burn all. What's not as a group but but we we had ideas and we talked and And and we had we had. We had a good time. We had a good time actually with a department store business. I mean we learn things. We met nice people and It's all been very very interesting but we did start with failures all manage to stay so calm through that. Most of the time people be putting up that amount of their net worth and they'd be very worried if they got into a situation that they realized was used betting with networth. Since it was very small didn't change that much of the numbers got a little bigger play marbles at saunders school i would gamble marbles. I mean it wasn't like we had no experience dealing with with wells. I was gonna might wealth was marbles but part of that points to the lesson of leverage and not not having bet the money that you don't have we we've never liked leverage that much and I've never borrowed a dollar. I wasn't sure. I was going to pay back one way or another. We like getting some leverage through businesses like blue chip stamps where people pay for the stamps and about trading saps or anything about it. I mean you know. Airline rewards are are the same thing. People love the idea of of collecting little things that they then redeem for for something they kind of dumped about for our reward systems. But we had those things. Those systems.

stewart's hotel baltimore sandy charlie Charlie denver howard Dustin charlie munger burr berkshire denmark warren buffett sperry hutchinson saunders school
Bitcoin Is Much More Than a Speculative Asset

The Breakdown with NLW

02:08 min | 7 months ago

Bitcoin Is Much More Than a Speculative Asset

"There has been a huge amount of talk of es g. as it relates to bitcoin this week specifically obviously in the case of tesla reversing policy and no longer accepting bitcoin payments for cars because of environmental concerns. However i think that sometimes when we talk about es g we forget about the s and the g and if we want a complete picture of how. Bitcoin fits within this mindset. We can't only discuss the energy and environmental side. So today i'm reading. Alex glad scenes latest piece called. Check your financial privilege while those comfortable in the dollar bubble derived bitcoin the stories of three emerging-market users demonstrate why it is so important if you like this essay go back and check out my episode called bitcoin. Investing is es ge investing but for. Now let's get to reading in the eyes of most western elites investors journalists and academics. Bitcoin rates anywhere from an annoyance to a disaster. Just a few days ago. American billionaire charlie munger described. Bitcoin is disgusting and contrary to the interests of civilization. Warren buffet wants. The world's richest person sat next to monitor and obvious agreement. He said bitcoin is a delusion and rat poison squared and is warned that he is sorry about its rise because people get their hopes up. That's something like this is going to change their lives. Bill gates who also used to be. The world's richest person has said. Bitcoin is the greater fool theory investment. And that he would short it if he could. Hbo host bill maher skewered bitcoin in an extended segment on his show. Saying that the new currency's promoters are money. Hungry opportunists a few weeks earlier the new york times story that said bitcoin will ruin the planet financial times columnist. Martin wolf has long pegged it as quote ideal for criminals. Terrorists and money. Launderers prominent ivy league economist. Jeffrey sachs said that. Bitcoin offers nothing of social value. While former international monetary fund chief in european central bank president christine lagarde has called it a tool for totally reprehensible money laundering activity over the past decade. These financial experts. Reporters and policymakers have continuously pounded the narrative that bitcoin is risky dangerous bad for humans and bad for the planet.

Bitcoin Tesla Charlie Munger Warren Buffet Alex Bill Gates Bill Maher HBO Martin Wolf Jeffrey Sachs New York Times Christine Lagarde International Monetary Fund European Central Bank
Greg Abel to Succeed Warren Buffett When Berkshire Hathaway CEO Retires

America First

00:25 sec | 7 months ago

Greg Abel to Succeed Warren Buffett When Berkshire Hathaway CEO Retires

"Has some big shoes to fill. The Berkshire Hathaway vice chairman will succeed billionaire Warren Buffett as CEO. Buffet confirmed the succession plan to CNBC after Berkshire's Charlie Munger spilled the beans during the company's annual meeting over the weekend. 90 year old buff, it says while he has no plans to retire, if anything happened to him, Abel would be the one to take the top post that

Berkshire Hathaway Warren Buffett Charlie Munger Cnbc Buffet Berkshire Abel
"charlie munger" Discussed on KGO 810

KGO 810

06:31 min | 1 year ago

"charlie munger" Discussed on KGO 810

"Let's shift our conversation over to the investment world. Charlie Munger. That's Warren Buffett's right hand man. The two of them have been together throughout their entire careers. Charlie is over 90 years old. He's been in the investment game for more than 70 years. He said earlier this week that the stock market is a frenzy. Right now. Let's talk about why, he said this that it's unprecedented in his investment career. Airbnb shares went public for the first time ever. They debuted last Thursday and on the first day of trading The stock more than doubled. The company said they were going to issue the stock at $68 a share. And instead it began trading at $146. Now this is not alone and not only that, they're beat Ho! She stopped eating the paper. I gotta quit bringing the dog into the studio. Oh, she, um I'm glad I didn't need that piece of paper there. B Airbnb is not alone door Dash also debuted on the stock market and its stock rose 86%. On the first day of trading. Got to be kidding me on another company called C three. Ai it rose 120% on the first day of trading. Come on, these three I pose shattered the record for AIPO debut. The previous record was set. Are you ready for this? In 1999, the peak of the dot com bubble. So you can't say. Well, this is great news, isn't it, Rick? Well, not free you and not for Airbnb, or door dash either. Why not? Let me explain to you how this stuff works. Airbnb. The owners of the company own all the stock. They're selling the stock and they want to make a big profit. Will. They decided to sell the stock for 68 bucks a share, But when it started trading to the public, it started trading at 146. So that big difference Of what $80 a share. That didn't go into the pockets of the company. The people who owned and grew the business. They didn't get that 80 bucks a share that money went to Wall Street. So the brokers and traders and investment bankers and underwriters they're the ones who enjoyed that profit. You didn't get the profit, either. Because you didn't get to buy the stock at 68. You were first opportunity was to buy the stock at 1 46, its all time high. Airbnb missed out on billions of dollars that they worked hard to produce in the creation and operation of the business and the retail investors who bought the stock in the I P o. They missed out as well. The only people who profited with the Wall Streeters. And that's why this is a questionable environment. And yet investors don't seem to care sentiment is extraordinarily strong. The Chicago board Options Exchange publishes a sentiment index and the index is at its most bullish level in 23 years. You have to wonder. Is the bullishness turning into an unrealistic basis for stock prices. Well, I don't know. But guess what's coming next. Tesla is being added to the S and P 500. It's happening on December 21 this coming week. There's about $5.5 Trillion in index funds. That track the S and P 500 of two biggest the Vanguard 500 Index Fund and Spy the S and P 500 E. T. F. When Tesla gets added to the S and P on December, 21 Those funds on all the others like them must they don't have an option must purchase tens of millions of shares of Tesla's stock. No matter what the price of Tessler is when you have a huge demand. Limited supply. You know what's going to happen? The price of Tesla's gonna rise. Now what happens the day after? Well, the demand will evaporate and therefore a lot of people are expecting the price to test Let it drop right back down. And meanwhile, there are 500 stocks in the S and P not 501, in other words, by adding Tesla's to the index. The index has to take a company out of the index. And then they have to re balance the entire index because the indexes cap weighted the biggest company is ranked number one, the smallest at number 500 Tesla a is going to be inserted at number one or number two. Which means the holdings of all the other stocks in the index. They're gonna have to sell some of those shares to make room for Tesla. So you're going to see massive market volatility, massive high volumes of trading all because of the passive obligation of Accommodating the insertion of Tesla's into the S and P So will it cause the stock market to rise dramatically this coming week? What will happen the day and a couple of days after that transitionary activity occurs. Well, it's going to be very, very interesting to watch. Meanwhile, SNP itself Standard and Poor's has issued a report on banks. And they say that 2021 could be the toughest year for banks since 2009 and the S and P has given a negative outlook to a third off all the banks. In the entire world. Saying quote. We do not see recovery to pre covert levels until 2023 or beyond. They cite for risks that are facing bank's future pandemic lockdowns that her business Policymakers might withdraw the support that they've been providing to the economy too soon, there could be an increase in corporate and personal bankruptcies and lower real estate values. All of this posing significant threats to the banking sector, the biggest sector On Wall Street. Meanwhile, a lot of folks are in fact trying to.

Tesla Airbnb Charlie Munger Warren Buffett Wall Streeters AIPO Chicago Rick Poor Tessler
"charlie munger" Discussed on 600 WREC

600 WREC

03:04 min | 1 year ago

"charlie munger" Discussed on 600 WREC

"Let's shift our conversation over to the investment world. Charlie Munger. That's Warren Buffett's right hand man. The two of them have been together throughout their entire careers. Charlie is over 90 years old. He's been in the investment game for more than 70 years. He said earlier this week that the stock market is a frenzy. Right now. Let's talk about why, he said this that it's unprecedented in his investment career. Airbnb shares went public for the first time ever. They debuted last Thursday and on the first day of trading The stock more than doubled. The company said they were going to issue the stock at $68 a share. And instead it began trading at $146. Now this is not alone and not only that they're being Hoshi, stop eating the paper. Gotta quit bringing the dog into the studio. Oh, she didn't need that piece of paper. Herb Airbnb is not alone door Dash also debuted on the stock market and its stock rose 86% on the first day of trading part of you cutting me And another company called C three. Ai it rose 120% on the first day of trading. Come on, these three I pose shattered the record for AIPO debut. The previous record was set. Are you ready for this? In 1999? The peak of the dot com bubble, so he can't say Wow, This is great news, isn't it, Rick? Well, not free you And not for Airbnb, or door dash either. Why not? Let me explain to you how this stuff works. Airbnb. The owners of the company own all the stock. They're selling the stock and they want to make a big profit. Will. They decided to sell the stock for 68 bucks a share, But when it started trading to the public, it started trading at 146. So that big difference Of what $80 a share. That didn't go into the pockets of the company. The people who owned and grew the business. They didn't get that 80 bucks a share that money went to Wall Street. So the brokers and traders and investment bankers and underwriters they're the ones who enjoyed that profit. You didn't get the profit, either because you didn't get to buy the stock at 68. Your first opportunity was to buy the stock at 1 46 its all time high. Airbnb missed out on billions of dollars that they worked hard to produce in the creation and operation of the business and the retail investors who bought the stock in the AIPO. They missed out as well. The only people who profited with the Wall Streeters. And that's why this is a questionable environment. And yet investors don't.

Herb Airbnb Charlie Munger Warren Buffett Airbnb AIPO Wall Streeters Hoshi Rick
"charlie munger" Discussed on Newsradio 600 KOGO

Newsradio 600 KOGO

05:54 min | 1 year ago

"charlie munger" Discussed on Newsradio 600 KOGO

"6 51 It is time for news about your money with Sully and a billionaire investor explains what's behind this huge market rally. Yeah. Have you guys heard of Charlie Munger? Have you heard that man named? Yeah. He's hey was an architectural designer, but he turned into an investor and a businessman. He's He's very, very funny. He's got he is the guy who originally said Anything. Anyone who finds investing easiest, stupid. That's his. That's his moniker. So anyways, listen, the S and P s up 50% since it's March low of this year, it's back. It's it's going to hit an all time high today. It is really a mind blowing rally, and it's taking place as the economy is seeing its worst quarterly GDP contraction in 70 years. So you have to ask yourself what's going on and popular answer, which is sort of hollow is that the Fed is pumping the markets. But he gives it Maura thorough explanation. This is what he says. He says The SNP traditionally trades at a price to earnings ratio, or what's called a P E ratio of 16. But with interest rates near zero that P e ratio is now 50. Now, all things being equal for you guys that don't understand P Ah higher price earnings ratio means a higher stock price. So in layman's terms, the Fed's interest rate cuts are boosting stock valuations. And if you look at the family stocks, which which is Facebook, Amazon, Apple, Microsoft Google, they make up 20% of the entire market, and they're just killing it. So on average, those stocks are up 36% this year, even as the median SNP stocks up is down 11% and that's what's going on. Because it's the tech companies that have scale and tech advantages. They're benefiting from Corona fueled shift to digital. They're growing faster than big companies in the past. Thank U S steel right, and they got huge piles account. So so this this is why you're seeing a market that is defying the economy and also the fact that the market is forward looking and speaking of forward looking Dow Jones as I guess MP All reacting on the news of a great producer Price Index, which is which is a leading indicator of a good economy doubt turns up 318 points. That's a full 1.2% of 28,001. S and P at 33 74. That's a new record high in the NASDAQ is down just slightly spreading at 9 10,030 right now coming up with 7 20 I'll tell you exactly what Trump's payroll tax means for your paycheck. Hint. If anything coming up all right time for extra 13 60. Fox Sports San Diego Mike Acosta starting off in baseball last night, Eric Hosmer brought the go ahead run across the plate in the top of the sixth. The Padres beat the Dodgers 2 to 1 in L. A San Diego, now 10 and seven on the year why Ella drops to 11 6 Elsewhere D'backs over the Rockies 12 8 Houston beat the giant 64 college football News. The mountain was conference postponed fall sports, including football yesterday. The postponement is indefinite. Though the conference will look to the spring as an option for football and other fall sports. The Pac 12 CEO group made up of one president or chancellor from each of the conferences. 12 universities will meet today is expected to discuss and vote on how to proceed with the 2020 football season. The growing sense around the conference is that it is highly unlikely the Pac 12 will move forward with a fall season made concerns related to the pandemic and will look too plain in the spring all my costume with extra 13 60. Fox Sports San Diego All right, it is 6 55 and officials say the cause of the fire that damaged the upstate New York home of celebrity chef Rachel Ray is not considered suspicious. Kurds were called out to battle the fire in Lake Luzern Sunday and were able to get things under control in about two hours. Hey, her husband, mother and the couple's dog roll inside at the time, But they got out Ray thank the first responders for their efforts and saving what they could of the home. The cause of the fire is still under investigation. Lori Laughlin. Remember her? Oh, yeah. And her husband Massimo. Generally. Well, they've downsized you say to a smaller home amidst The college admission scandal couple purchased a $9.5 million home in Hidden Hills, Calabasas. They had listed their previous home in Bel Air for 28 a half 1,000,000. You know, when you said downsize, I was kind of thinking, you know, a four bedroom apartment in West Hollywood. No tool Vista maybe know they didn't get the asking price but were reportedly happy with sail. The purchase comes three months after they pleaded guilty. And the college mission scandal. Ah, they're sentencing step for August 21st in case you're wondering there. New home on, Lee has six bedrooms and nine bathrooms. Well, that is just tragic. Roughing it. Yeah. Divorce rates during the Corona virus pandemic are on the rise. And one reason is that cheating lovers air getting caught private Detective Charlie Parker. Great name, says the Corona virus and all the restrictions make cheating. People do dumb things. God, it's gonna cheat if you're a treat. And he's going to figure out a way to get out of the house. But he can't during the girl embarrass any stats where he stumbles, and she catches him. And I think that you could probably switch that around to Shi as well. In a July survey, which was done by the American Academy of Matrimonial Lawyers, 69% of the members said that they were seeing an increase in demand compared to March in April, and it is predicting an uptick in divorce filings will continue, at least through the end of the year. That actually, that is such a bummer. Yeah, people, people instead of coming closer together. They're irritating each other. And Yeah. Do you know that your do fill in the blank all the time? Yes, I do. All right, Make your breathing. Get away from me. Stimulus discussions. Where are they will have that coming up. We have a real time Traffic in your updated weather in three minutes. Kogo to use time. 6 57 palamar solar dot com A local name you can trust..

San Diego Fed football Charlie Munger Sully Rachel Ray Corona Pac Maura Eric Hosmer Facebook Lake Luzern Sunday Dow Jones Detective Charlie Parker Lori Laughlin Padres
"charlie munger" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

08:08 min | 1 year ago

"charlie munger" Discussed on Bloomberg Radio New York

"You're listening to masters in business on Bloomberg Radio. My extra special guest this week is Martin Franklin. He is the founder and CEO of Mariposa Capital. Let's talk a little bit about the state. Of business today and what's driving things we were talking earlier about Jordan being purchased by Newell Brands in 2016. What was that experience like you've been through a lot of purchases and sales of assets, but this was a pretty decent size transaction. It was about a $20 billion gross transaction. 15 billion on the equity. You know my view. I looked at the sort of behaviour of my Children and felt but a lot of the company the businesses inside portfolio were becoming less relevant to the next generation of behavior. I felt it with the appropriate time for you to consolidate portfolio with somebody who had a similar portfolio, giving the businesses combined. You know greater leverage and strength within the sector. But also the decision was a plus The one I felt that we've taken it is it's a very long way generated superb returns. This was the right time to move on in the process of building a family office. I had a son and have more Children, You know, sort of head of the old sun to come and sort of join a family office environment. And so you know the coincidence of timing folks, but it was the right time. I think with hindsight, you know, probably the right move over. I didn't see Code 19 company or anything like that. But definitely, you know. With the right move with hindsight. So since you mentioned Cove in 19 you were until recently a director of Restaurant Brands International they have such brands is Burger King Popeye's Chicken, Tim Hortons. How has the pandemic affected those sort of businesses? And what was it like during the depth in March in April of of the lock down across the U. S. You know, I think that there are retailers quick service retail food companies that have been hit differently than other the retailers like McDonald's and Burger King. And pop eyes that have significant drive through services. I've been far less damage than you know, casual dining concept where you know you're sitting inside a less strong And delivery or drive through a fastball a proportion of the business so I would tell you that they've managed through this admirably, obviously. No a levels of volume and in some areas than another. But you know, in terms of being able to keep that is strong, maintain their dividends so that employees they been spared, as they say, the more casual dining concepts I have been decimated if you don't have a capital base from which to operate, and you, you know you live you operate month to month. Without sort of government support. You're out of business until Consumer behavior completely changes again. So let's do a little comparison with the Industrial conglomerates today. How How did they look compared to the conglomerates of of the seventies and 19 sixties that your father was spending? A lot of time taking apart. Well, I would say First of all, there are far fewer of them. Today. The conglomerate of yesterday were fuelled by continual continuous steelmaking. You know they were taking advantage of accounting anomalous about, you know, on treatment of goodwill and things like that on the case today, and they were also far faster. They generally dealt with very large headquarters. Feast ums in their own, and I say today they're much more targeted. More discipline. HRA att said and get probably get left. A discount as a result of being a little more focused than the conglomerates of the sixties and seventies. What about a giant conglomerates? Sitting with a lot of cash? Like Berkshire Hathaway? What? What happens to that entity in the post Buffet Munger era. You know, I give you an analogy. I would think of it the same way as one would think of Lows Corporation off the passing of, you know, Larry and presentations family. Though, the you know the great assets great companies, but the If you like the investment dynamism that existed with being Rounding on corners. You know, A T least for now. It's not the same. That's not a knock on them. It's just a different generation. And that would be a normal course of events. I think that book should have to, eh. Will probably be the same story. I think, though, you know, it doesn't change the quality of the affects when they're not there, But I think that the sort of innate instinct of when I went to make a big bear And what big bet to make something that you don't get to pass on. You wantto have it or you don't. So you know, I think whoever Warren Buffett and Charlie Munger put in caretakers. You know of the off book shit for the future. They will probably be very admirable caretakers, But they won't be Warren Buffett Charlie Bunker because you can't be with others just not how life works. Right. There is no replacing those two guys. That's correct. So So you were founder and chairman of Elements Solutions. A chemical technology company seems very different from some of the previous Cos you worked on How did you find your way to that? And was it really all that different from some of the other companies you helped to fill? No. I mean I'm I'm currently involved in five. Quite significant side businesses. And element. You know, one of them. Element has the section of the same characteristics as all the other ones, which is where the business is. Inside element are the market leaders in their respective Mitch. The very high police cashflow business got good management. It's got some really defensible Moz around it. Those are really cool characteristics that you'd find in the frozen food businesses, no matter which, you know. Same thing for a P I r life safety in Royal oak. You know my charcoal business that they will, uh, leaders in their respective leash markets. Element's not really a It's. It's especially chemical company, but it really is a services company. You know when you really get into what it does. What it does is, it helps manufacturers in their manufacturing process, And it's really the technician. As much as that chemicals could be seldom, but, er what of customers pay for when they're when they're dealing with, you know, various business units. Quite quite interesting coming up. We continue our conversation with Martin Franklin, founder and CEO of Mariposa Capital discussing the state of equity markets. Today, you're listening to masters in business with Barry Results on Bloomberg Radio. I've been right a motorcycle for 52 years I started having back pain turned into the knee pain I couldn't sit on a motorcycle is like you have to give up riding bikes.

founder and CEO Mariposa Capital Bloomberg Radio Martin Franklin Warren Buffett founder and chairman Newell Brands Jordan knee pain Royal oak Burger King Charlie Munger Restaurant Brands Internationa Berkshire Hathaway Tim Hortons technician Lows Corporation director Barry Results
Here’s What Warren Buffett Says About The Coronavirus And His Outlook On Stocks

Motley Fool Answers

06:57 min | 1 year ago

Here’s What Warren Buffett Says About The Coronavirus And His Outlook On Stocks

"May kicked off with one of the biggest events of the investment calendar the Berkshire Hathaway annual meeting. Hey hurrah but instead of forty thousand people flocking to Omaha. Warren Buffett sat at a table in a near Empty Auditorium. Under did either of you watch it at all. It was kind of the surreal experience. Now I saw two seconds of it. I haven't gotten around to it but it is always. It still blows my mind. That forty thousand people go to Omaha just to maybe get a chance to see Warren Buffett. That's crazy and it's crazy that he can sit up there for that long and answer question after question after question now usually also joined by Charlie. Munger this year he was not instead he was joined by Greg able able. Who is the vice chairman in charge of all operate operate instead of Insurance? But it still went on for more than four hours. Wow I more than an hour was a presentation that he gave so I listened to the entire meeting. Impasse episodes I would. I've said that sort of my personal investing philosophy is be a short-term pessimist at a long-term optimist and that sorta seems to me was the message of the whole meeting so on the pessimistic side. They're clearly not doing anything you know. They've still kept most of their one hundred thirty billion in cash. He did not use the downturn as an opportunity to go on a buying spree. He essentially he likened previous downturns to train. That is slowing down. This time. He said we took the economic train off the tracks. And I don't know of any historical parallel in the range of possibilities on the economic side are still extraordinarily wide in other words. They're still sitting pat on what they're going to do. He also said quote. We have not done anything because we don't see anything that attractive to do. Heels actually spent a good deal of time talking about some of the past challenges and failings America's history so for example. He pointed out that. Despite the fact that we have a declaration of independence that claims that all men are created equal. When you look at the three point nine million people living in the original thirteen states and seven thousand nine hundred fifteen percent were slaves pointed out that during the civil war six percent of the male population between the ages of eighteen and sixty died. The twenty twenty equivalent of that would be four million deaths according to Warren Buffett and then it took one hundred thirty one years for women to have the right to vote at another sixty one years until a woman was appointed to the Supreme Court so we often talks about the long term success of America. He did spend a good bit of time talking about some of the things that we have not done so well. He spent a particular amount of time on going over the Great Depression I think partially because he was born in the middle of the Great Depression so he pointed out. It's September nine hundred twenty nine. The Dow was at three eighty one. Five hundred didn't exist back then so he just using the Dow and then in a little more than two months it was down forty nine percent to one ninety eight. You Move Ahead to August twenty ninth nineteen thirty. Which is the day before he was born. It was backed up to two forty so and it rebounded twenty percent. People have found that like okay. Stocks went down but there. They've gone back up back then. People were thinking that they were on the verge of the Great Depression. You go ahead less than two years to July thirty two. The Dow is down to forty one so from the peak went from three eighty one to forty one a decline of eighty nine percent and the Dow did not get back to its nineteen twenty nine peak until nineteen fifty four. Wow he did point out that people got dividends at back then. Dividends were higher but still price percentage the market was down for more than twenty years so buffet called the Great Depression a testing period. That caused some people that lose faith in America. I don't know if he was playing out to say like times ahead could be tougher than we think or just pointing out that America has seen worse times but regardless he says that anyone's going to lose faith in America that's a big mistake which brings us to his persistent message of being a long-term optimistic pointed out that despite all these challenges from seventeen eighty nine until today the wealth of the of the United States has grown five thousand percent and that's adjusted for inflation. He also pointed out that since the year he graduated from college in Nineteen Forty nine at the age of nineteen one dollar in the Dow has grown to one hundred dollars. So how do people benefit from what he calls the American miracle? Well as he often does and I think it's always interesting that he does this during the Berkshire hathaway annual meeting because it's an annual meeting of people who own individual stocks. He thinks the vast majority of people should just by an S. and P. Five Hundred Index Fund and. He mentioned that's what he does. That's what he has directed his will when he passes away swimming. He predeceased. His wife. Ninety percent of that wealth will go into an SAP hundred index fund. In fact one question asked about Berkshires underperformance as a stock. It's underperformed this year as well as the last decade a something. I know personally because I've owned Berkshire for more than a decade and he was basically said. I agree that that's an issue. He said that the truth is that I recommended. Sap Five Hundred Index Fund. To most people. And I happen to believe that Berkshire is about a solid is any single investment can be in terms of earning over time. But I would bet my life on whether we beat the sap five hundred over the next ten years so as always with buffet. It comes down to betting on America for the long term. But it's clearly means the long term to be like very long-term it mentioned the timeframe twenty to thirty years a couple of times the only truly positive thing he said about shorter timeframe at least that I can remember was in response to a question about whether Berkshire expect significant significant layoffs among its workforce which at this point. It employs almost four hundred thousand people in response. He said that some businesses will have to make adjustments. See's candies closed down. Nebraska Furniture Mart. Some of their factories may have issues. It's the funniest list of companies. I'm sorry Oh it's like it's very clean seas it's like what. Why Energy facturing? Yeah it's it's everything it's all these companies that you like. Yeah I think I've I think I've heard of Kim or have it at all. It's quite amazing. But well while he expects it some there will be have to be some layoffs. He doesn't expect them to be significant in that five years from now he expects Berkshire we'll be employing considerably more people so that to me says he expects five years from now. Things will fully recover and I think that's a reasonable timeframe. I certainly expected in five years. This time period will feel like somewhat of a distant memory. I certainly hope so But it's certainly possible that over the next year or two things could turn out to be pretty rocky

Warren Buffett America Berkshire Omaha Berkshire Hathaway Empty Auditorium Vice Chairman Nebraska Furniture Mart Munger Charlie Heels KIM Supreme Court Greg United States
Mastercard Names New CEO

Squawk Pod

00:55 sec | 1 year ago

Mastercard Names New CEO

"Some breaking news just in from Mastercard. The company says that Chief Product Officer. Michael me back is going to become the new. Ceo Next January first the Currency Agyei bound is going to be transitioning to the role of executive chairman at that time. Of course we should point out during. Oj's tenure that stock has increased more than fourteen fold prior to assuming the CEO role me box going to become the president of Mastercard. And that's going to be happening on March first. All of this comes of course. Just a day after mastercard warned that its revenue could take a two to three percent. Hit this quarter because of the corona virus. Some of the things that they talked about in that released last night That concerned the markets is not only a slowdown in terms of cross-border Travel that's taking place but also cross-border e-commerce people being afraid to even buy things and have it shipped here as well. You know you know the story of the stories in amazing storage. I mean his own personal stories in amazing story. But what's happened mastercard? Over these years is an amazing

Mastercard CEO Chief Product Officer Executive Chairman OJ Michael President Trump
How to Leverage Unfair Advantages in Your Marketing

Marketing School

05:01 min | 2 years ago

How to Leverage Unfair Advantages in Your Marketing

"Welcome to another episode of Marketing School. I'm Eric Su and I'm Neil Patel and today we are going to talk about how to leverage wjr unfair advantages in your marketing. So Neil what are some examples of unfair advantages. Sure unfair advantages is like Kylie Jenner really releasing Kylie caused medics when she already has a huge following and allows her to instantly become a billionaire but close enough in which I know. That's not Overnight success that's a overnight success ten years in the making it's more so she's able to leverage her brand and grow superfast or beats by dre leveraging aging all their celebrity connections to having them where their product and then apple ends up buying him out. But the list goes on and on. And you're seeing this kind of stuff in Seo Seo email marketing you know like people getting influencers in having him on their landing page giving testimonials which helps improve conversions. But there's a lot of ways that you can have have a unfair advantage over your competition. Yeah my opinion is if artists start all over today doing a business. I think it's most important to build an audience. I you know if I were starting. I'll all say look I gotTa Take Care of survival so maybe I might be working fulltime for a while so I gotTa Take Care of you know my my bill's GonNa take care of my food and everything like food and drink but once I got to think about okay how can I start building. My brand and example of this would be when I think about Jake and Logan Paul. They built their brand off off of vine. Initially and now they're superstars not only on they. They have like a huge volume. They have a huge instagram volunteers. All over the place so I think fundamentally you build the audience. I and that's how you build your unfair advantage and to Neil's point once you get your unfair advantage going. You're going to have a group of people that you can serve your audience and you figure out what they need and you can build around that where we can buy around that. But the unfair advantage is Warren Buffet and Charlie Munger always talk about the moat. I think when you look at Coca Cola is an example. Their brand is there moat right. That's what makes him such a good company yet and Eric's really spot on like a prime example of this is what with Uber suggests now Has Grown. I'm not saying it's the best APP or anything out there but the reason is also grown so fast because I had a huge brandon had such a large traffic traffic in the marketing SEO space. I probably in the digital marketing specifically space performance marketing. I probably have more traffic fake than anyone else. When you combine social and web like blogs podcasts all that kind of stuff yes there are Gary v's who have a huge audience but He's not necessarily in the performance marketing space. But when I did that and I ended up. Releasing Uber suggests I'm getting more monthly sign ups shorts free but but I'm still getting more monthly free sign ups than any of my competitors are even if they have a free version like sem rush. I'm still being an. I'm doing that without paying for ads. But it's because I built up millions and millions of visitors and followers over the years. The question than Neil is people are thinking okay. Look we're starting out right now. How do we build an unfair advantage? In how long did it take you to build your unfair advantage. You think like to get it to start to take off. It takes three plus years ears. You know I said it takes three years to do anything decency traction. You should see results within the first six months but really three years for anything to truly start taking off. It doesn't mean you'll get to where you want in three years. It just means us when it really starts taking off and what you'll find is the web already saturated. Yeah you already know yet to go Omni Channel. We've talked talked about this. But if I were you and your unfair advantage start off with the channels at your competitors. Aren't leveraging you know a lot of them aren't leveraging social platforms like tick tock yet and you you may say it's not a right fit for my audience that's fine. You'll also find that Lincoln's been around for a long time but very few. Your competitors are posting on there on a daily basis this or going live on Lincoln even though they have that feature and gets tons and tons of reach yet very little to no people are using that feature online. Did Yeah Awesome but also from my side is as I see that things are things from personal side. When I look at the twitter that I had in the past and my other channels I really wasn't touching it that much and I was kind of leading people? My team manage it but once I started to manage it. The engagement rates shot up. Because it's actually me talking and it's stuff stuff that I mean I post stuff that makes my blood boil right and I test different things. So keeping here is if you're building as your unfair advantage is starting to build. It's starting to snowball all you have to think about how you can also try to deals point earlier go a little Omni. Chen diversify a little bit and let the snowball continued to build. It seems like you might be losing focus there. But which if you had the same focus message across. Those shouldn't take you that long to repurpose it. And you see everyone starting to repurpose now. So everyone's doing it. Then you are not going to have advantage if you don't do it right so think about that as well

Neil Patel Eric Su Kylie Jenner Marketing School Lincoln Coca Cola Apple Instagram Gary V Warren Buffet Omni Channel Omni Twitter Charlie Munger Brandon Jake Logan Paul
Tiffany Shares Rise and Fall as Tourism Spending Declines

MarketFoolery

03:28 min | 2 years ago

Tiffany Shares Rise and Fall as Tourism Spending Declines

"We got weird stuff happening in the market today. Sure. Do I'm glad you you're going to explain what's actually happening with the various earnings that we have. I'm going to. We'll get to some retail get some cloud stores. Let's start with Tiffany. Shares of Tiffany are up five percent this morning and I really am not sure why their first quarter revenue was load their same store. Sales were negative five percent. That was basically three times as bad as analysts thought it was going to be why is this stock up? I think they must've said something in the conference, call that is not completely contained in the earnings report. And that's often the case because the numbers are not that good. And it's not as if there was some out expected, it, it's a company that's growing it sort of, you know, the rate of growth of the global economy, more or less. I think the initial pre market reaction was quite negative and was based in part on part of the quote that is early on in the report, which. Talks about a drop off a dramatically lower worldwide spending attributed to foreign tourists. Okay. So that dramatically lower or too bad words to put together in report, if you're in the business of selling anything, yes, but if you're explaining away something, and then in the conference call, you say something like oh, yeah. You know, the quarter ended at the end of April, and by the way, may looks really good, right? Yeah. I like that reversed itself. I don't know that that's the explanation there. But there was something to that, that, that, whatever the quarterly numbers were which if they stood on their own, you would sell and the market was selling pre market. There's a another part of the story, and at it's better than what is contained at the end of April. This is one of those stocks that at various points in time. Tiffany has been a great stock to own. But you look over the long term there, if, if your mindset when it comes to stocks is I'm looking to buy great business. It's the Charlie Munger lied and looking at by great businesses and sit on my, but I don't know that Tiffany certainly in the recent past has been one of those businesses. It's, it's basically Ben flat for about five years. Yeah, you should have gotten off your butt in about nineteen ninety nine I would say, because that's when the real surge in the price. It went up about four x from ninety eight ninety nine went from about a ten dollar stock to a forty dollar stock. And now it's ninety dollars stock and you've gotten some dividends in there. But twenty years, where it has done a little bit better than double is obviously trailing the market, and there are some peaks and valleys, where you could have time something over short period. Of time if you got into this stock like many others at the bottom in two thousand and nine you're happy. You're happy if you'd bought the other thing that you would bought at the very bottom of two thousand nine as well. And as you point out the last five years have been, you know, one step forward, one step back and not really a compounding effect if you'd gotten out oh about a year ago today. It'd be pretty happy.

Tiffany Charlie Munger Five Percent Five Years Ninety Dollars Forty Dollar Twenty Years Ten Dollar
"charlie munger" Discussed on WTVN

WTVN

07:49 min | 2 years ago

"charlie munger" Discussed on WTVN

"Say they have rounded up dozens of skilled bombmakers Indonesian police say that they have arrested as Lamin state-linked terror suspects, including some who plan to detonate bombs at political demonstrations. When election results are announced next week, police said the militants wanted to take advantage of any political unrest, and using wifi to remotely detonate, these bombs filled the backpacks at crowded demonstrations could happen anywhere you was consumer sentiment jumped to a fifteen year high in early may amid growing confidence over the economy's outlook. That's good news. Former US vice president, Joe Biden has shown some surprising strength in the first three weeks of his campaign for the democratic presidential nomination prompting, persistent question can any. The other Democrats stop him. Let's check in with Dr John Curtis online, communist dot com. John, what's your take on all of this so far? Well, I think that Biden Issy only viable candidate, the Democrats have right now, the Kamala Harris from California would like to think otherwise, she was quite outraged. When Biden suggested that you make a good number two. And you know given Georgia's a little premature be saying something like that, but it surely is looking ahead because he's he's polling thirty percent. And Bernie Sanders have big twenty sixteen campaign as you know, against Hillary is at about sixteen percent mall harasses about nine percent, and the rest of them are really, including by the way, Elizabeth Warren and better award really into five and six percent range, so Biden is leaks and bounds ahead of competition. And I believe that what's happened is that gamma critic voters who are being polled. All right now, believe that they think he's the best chance they have a beating Trump in twenty twenty and five hundred ninety herding probably seen in the past is, is when, when it gets into an extemporaneous situation. He can be staff proud to the point where it's almost embarrassing to listen to them. And you know, I'm out enough. You've heard any of his interview. Oh, yeah. Great Ed deliver. That's for sure. No, he's not at all. And if he's not delivering the speech and debate, I mean, you know, you don't know how badly perform in front of other people. But I think at this point if, if Biden tense. I mean, this is what the Democrats think if they want to go after and destroy his candidacy, they're really not going to have a viable candidate because I think that even even Warren Buffett. And, you know, his Charlie Munger basically saying what folks, you know, we don't like Trump any more than the next guy, but you're not gonna you're not gonna put a socialist in right now. And, you know, try to impose the great new, you know, you know, energy deal and, and, you know, Medicare for all, and some of these other wild programs that would literally bankrupt the country in the semi economy in a nosedive. So I think Biden is basically, they're going to have to live with them one way or another. I don't think they've got anybody else. Not at this point. Thanks, john. John Curtis online, columnist dot com. Suicide rates for young girls are rising at a pace faster than that of boys changing the established patterns that boys are more likely to die by suicide, and that girls are more likely to consider it attempted, according to a new study researchers at nationwide children's hospital in Columbus, Ohio, analyze suicide rates of US, kids and teens aged attended nineteen between nineteen seventy five in two thousand sixteen using what they call the wide ranging online data. Run by the US centers for disease control and prevention in that period. There were more than eighty five thousand suicides in kids and teens with eighty percent in boys and twenty percent and girls the rates of suicide peaked in nineteen Ninety-three and had been in the decline until two thousand seven when they started to climb again, let's check in with our residents psychiatrist, Dr Peter Brennan, who is an expert on some of these matters. Peter, what's going on here, why this suicide rate and girls? Rising. Well, I think the fuel is, is your social media with girls? Really more sensitive than boys. More easily hooked into it. Where easily made depressed by the social relationships, but it's just a fuel. It's, it's part of the many things that are upsetting our young people. But I think I can show the psychiatric drugs of the spark here that have really caused this increase in suicides that has a lot to do with Peter. Thanks, a lot to do with it in two thousand seven and eight, which is when this increase occurred. It's first important to know it is not an increase in suicide attempts. It's an increase in suicides completed actual suicides and the antidepressant drugs drugs in general, but especially in the antidepressant drugs. Violent suicide, six cesspool suicide girls used to take drugs, and they would. Much smaller percentage succeed in killing themselves. And now and I think is because of the influence of multiple drugs. They getting including anti-depressants, and they're doing more hanging themselves to hang themselves as much as ways, do they never done before suffocates themselves. Like I think that there is a key of what is, what are an eye depressants doing to large number of kids and also in two thousand seven the, the, the was a rise in the use of anti-depressants. They had trailed off a little bit because they got a black box warning for, for suicide, so the suicidal behavior so they doctors say, well, I'm gonna cut back on this well, defined Masuda industry now hundreds of lackey doctors went wild after that. Two thousand four two thousand eight doctors clearly bought by the drug companies convince physicians. That's mean, anything that you were going to cause more harm by by not helping these kids with their depression. Even though the evidence shows and I don't have kids with depression. The drug companies did this by spending a ton of money by getting the big doctors, and so on the rates are also the rates of these completed suicides, the highest among white females and the children youth group. And, and these are the kids that have the most access to psychiatric treatment and psychiatric drugs. Stimulants skyrocketed from about that period of two thousand two thousand eight day suicide depression. One of them's air has a black box warning, and also for suicide for suicide behavior and also during this time. Johnson and Johnson. Doctors at Harvard just start pushing Swiss for dole for children's jeeze. The kids would get labeled with this with the bipolar and getting these awful drugs. And in fact, they faced a huge two billion. More fine from the federal government in part for full see pushing these drugs on kids. So in some we have a huge load of drugs on a kids now and I'm calling George I've been calling for about a year now..

Joe Biden Dr John Curtis US Dr Peter Brennan Lamin Warren Buffett depression Charlie Munger vice president Bernie Sanders Kamala Harris Harvard Columbus Elizabeth Warren John Curtis Georgia Johnson Ed
"charlie munger" Discussed on 760 KFMB Radio

760 KFMB Radio

10:36 min | 2 years ago

"charlie munger" Discussed on 760 KFMB Radio

"Weekend in Omaha Nebraska is the annual Berkshire Hathaway shareholders meeting and Charlie Munger and Warren Buffett were making their ways around talk at a variety of folks, Warren Buffett, he's a Jain Norma's democrat. I know I know so Charlie monger, I don't care about that. But I talking about the politics of the business of this. He also loves Coca Cola. He drinks about five cans of coca day, Warren Buffett. All right. His company is the largest shareholder of Coca Cola with a ten percent stake worth nineteen and a half billion dollars. So when he's talking about Coca Cola, and he's making comments about Coca Cola. He's making comments about Coca Cola and the management of Coca Cola is paying close attention because he's a big customer. He's big shareholder. So they asked him FOX businesses Liz, claiming said to Warren Buffett, what do you think about the idea that Coca Cola is thinking about diversifying into cannabis products? Either a CD concoction THC concoctions any of that sort of stuff. What do you think about Coca Cola getting involved in the marijuana business? They said it would be bad news Munger and Buffett said it would be bad news for the brand that the brand has a wholesome image. And that it would be detrimental sheep. She pushed a little further. He he didn't indicate that he would sell Coca Cola. He wouldn't dump his his his stake in Coca Cola. But he did say to Liz claiming I think everybody who knows what Coca Cola is. It has one hundred percent brand recognition around the world and all two hundred countries or whatever it is. Everybody knows what a Coca Cola is what coke is. It would it would be deleterious to that. Now all this goes back to the September report that coke had its eye on entering the cannabis space after constellation brands and Molson Coors announced their own investments in that industry. Then a month later Coca Cola dismissed it. They said they were not in talks or they were thinking about getting in talks with Aurora cannabis to produce a CBD infused beverage executives Coca-Cola said the company does not plan on getting into that space. Coca-cola could be missing out on a huge opportunity, by the way because that market in the US alone is expected to explode from one billion to sixteen billion in the next six years the market for for cannabis. It's already rapidly expanding. So that's an interesting question and an interesting dilemma. Bear in mind. Charlie Munger ninety five years old and Buffet's not that far behind him. These are these are not spring chickens, and they grew up at a time when when the grass was the grass was in what you smoked man with bad news brawl. Mike in San Diego joins us next. Mike, what's on your mind? Hey, brad. Thanks for taking my call today. John. Well, thank you for calling. Hey, wanted to respond to what you were talking about earlier with the economy being Trump's, and I guess maybe even more specifically to the last call from Joe I've heard many jobs calls before he seems like a smarten pretty articulate guy. And I just kind of get the feeling that guys like Joe or are so wrapped up in their dogma and hatred of Trump. They can't attribute anything to it. I mean, there's that old adage about a broken clock being right twice a day. But I kind of feel like is like Joe, which I think is indicative of a lot of folks can't even accept it that broken clock. Maybe may even be twice making even be right twice a day. Sure. I I think it's so easy to see to me. At least I'm not someone that that really likes Trump is a person, but I really support him as president and yank its policies are really benefiting our country. And I think you can look as I told John that David yes. During the Obama. Administration the economy. The stock market did improve genetic given as Joe said it had nowhere to go but up right? And if you look at the day that Trump was elected until today, and you draw straight line, you see a very dramatic course pronounce irrefutable increase in how our country's doing and did did Trump directly thing to to to make the economy improve well, not necessarily, but just as you were talking about Warren Buffett when when Mr. buffet talks about buying a company the next day that company stock rockets up when any fortune five hundred five hundred company would it be Boeing GE when they get a new CEO who's taking who's who's going to be taking the company in a better more prosperous directions goes up in our country our country, our economy is no different. So. I mean, Obama wasn't my favorite president. I was very optimistic when we had him as president. And I totally give him props for things. He did like like get no bought like hope I'm like getting but they of some bin Laden. Right. But I mean, I think I think as long as we keep putting our heads in as long as we're people, and we keep putting our heads in the and refusing to to to to g reality, even if it's a reality that were not necessarily happy about I just told you before I just don't get it, man. I let's let's tell but Mike. Here's what's tough. Right. Think about this from the perspective of any of these people who are going to potentially take on President Trump. And let's let's say hypothetically, one of them gets elected. I don't know who it would be. But what's pretend somebody gets elected their performance in the market? They are going to benefit out of the box to some extent by the policies. Trump has put in until they reverse those policies. You know, what I think I think you're right to appoint? What Joe made the point? Like, what is Trump done that has driven the economy this hot? He's he's cut question. Well, he has the takes thinks he's there is something he's done. He's cut. He's cut regulation red tape at the executive branch. That's a huge deal. He allowed permeating for drilling and oil shale and all that sort of drive across Texas now, man, it's like it's like crazy time out in central Texas. But you know, what else? What else he did? He wasn't Hillary. He wasn't Hillary. No, no. You know, what else might have something? He did was something. He didn't do which is to not propose ninety percent. Iraq tax. Yeah. It's right. That's that's right. Because you had a lot of capital in hiding during the Obama years, you want a lot how much money do expose how much money was overseas. How much money do you think has come back now under the under the one time exemption, that's huge? Right. And it's all things that are kind of they're there in some in some ways tough to quantify either not necessarily tangible. But it's all the reason why our economy, why are why the Dow why the stock market is where it is today versus where it was on on November six two thousand sixteen. Yeah. It's it's a very good point. And the thing is you've got to remember more driving down the road here. Not to look in our rear view mirror all the time. Meaning I don't look whether Joe likes the job that Trump is done on the economy or not. You're welcome. Joe, it doesn't whether you like Trump or not you're still benefiting. Everybody is still benefiting from this economy as I said earlier, the shame is that these liberals couldn't opt out, but sadly, even the liberals are stimulus to the economy as much as the liberals complain, and they grouse when they go to whole foods, and they pay eleven dollars for jar of organic Mongolian peanut butter crushed under the toes of of ballerinas and Ulan. Bator stimulating the economy. Good good for you. That's great. Oh, this is specially massaged. Osceola goat cheese grew crumpled between the fingers of a fiddle playing. Fennel playing garden gnome from Maryland. Oh, it's delicious. We go. This guy gets hired John. Let me let me let me tell the quick story about this guy. And then we're going to go to a kitchen update here in a second this guy right here. Just play a snippet of this guy. Okay. This guy. I don't even know what you call with this guy. Does he is? He is a very weird, man. We think it's in Mexico. But we don't know where he's from. He's in LA. I'm pretty sure. So like, I said he may be in Mexico, and he is he is sitting in a I would say a cell, but it looks like a small room, and he just an entertainer. Now. Why do I bring this up? Well, I thought it was the weirdest piece of video I've seen a lot. I feel like we should share it maybe on the Facebook page, but more than that how many viewers subscribe. He's got like a million subs. Oh, yeah. He's got. He's got a thou- thousands of thousands of us. I don't know how many making money. This guy's probably making money off of the Google. Okay. You're not doing that. And all he's doing is playing a hairbrush on. On a on a spiral notebook, pretty fun. He's doing these singing songs, I'll put it up on the Facebook page, but I want to be clear, I'm not mocking him. That's an entrepreneur. He's a social entrepreneurs putting comedy out there. So that's that's the thing. That's the thing. You had a lot of pent up aggression and energy in the economy that when Obama went away and Hillary didn't come in. It took off like a shot. Eight hundred seven sixty K F M B one eight hundred seven sixty five three six two. We will get into the hard core. Nutcracker in politics of the day at four o'clock with Scott McEwen who has a very interesting take on. Why exactly it is that Bill bar has Bob Muller over a barrel on obstruction? It's a very interesting argument. That Scott's gonna present to us, and we'll take your phone calls as well being that it's a Friday. It's a little looser. Eight hundred seven sixty Kevin beats the Brentwood Erbil show AM seven sixty talking breaking this. Cossio critize aka a UC in the I wanna to talk about a Clinton AM seven sixty talk and breaking news AM seven sixty traffic problem thought on the eight westbound at the one five and accident is in lanes near up from several drive five northbound at Santa Fe drive, the.

Coca Cola President Trump Joe I Warren Buffett Obama Charlie Munger Trump John cannabis Facebook Mike Liz Hillary Charlie monger Omaha Berkshire Hathaway Mexico Mr. buffet Nebraska
Coca Cola, Warren Buffett And Charlie Munger discussed on Brett Winterble

Brett Winterble

02:54 min | 2 years ago

Coca Cola, Warren Buffett And Charlie Munger discussed on Brett Winterble

"Weekend in Omaha Nebraska is the annual Berkshire Hathaway shareholders meeting and Charlie Munger and Warren Buffett were making their ways around talk at a variety of folks, Warren Buffett, he's a Jain Norma's democrat. I know I know so Charlie monger, I don't care about that. But I talking about the politics of the business of this. He also loves Coca Cola. He drinks about five cans of coca day, Warren Buffett. All right. His company is the largest shareholder of Coca Cola with a ten percent stake worth nineteen and a half billion dollars. So when he's talking about Coca Cola, and he's making comments about Coca Cola. He's making comments about Coca Cola and the management of Coca Cola is paying close attention because he's a big customer. He's big shareholder. So they asked him FOX businesses Liz, claiming said to Warren Buffett, what do you think about the idea that Coca Cola is thinking about diversifying into cannabis products? Either a CD concoction THC concoctions any of that sort of stuff. What do you think about Coca Cola getting involved in the marijuana business? They said it would be bad news Munger and Buffett said it would be bad news for the brand that the brand has a wholesome image. And that it would be detrimental sheep. She pushed a little further. He he didn't indicate that he would sell Coca Cola. He wouldn't dump his his his stake in Coca Cola. But he did say to Liz claiming I think everybody who knows what Coca Cola is. It has one hundred percent brand recognition around the world and all two hundred countries or whatever it is. Everybody knows what a Coca Cola is what coke is. It would it would be deleterious to that. Now all this goes back to the September report that coke had its eye on entering the cannabis space after constellation brands and Molson Coors announced their own investments in that industry. Then a month later Coca Cola dismissed it. They said they were not in talks or they were thinking about getting in talks with Aurora cannabis to produce a CBD infused beverage executives Coca-Cola said the company does not plan on getting into that space. Coca-cola could be missing out on a huge opportunity, by the way because that market in the US alone is expected to explode from one billion to sixteen billion in the next six years the market for for cannabis. It's already rapidly expanding. So that's an interesting question and an interesting dilemma. Bear in mind. Charlie Munger ninety five years old and Buffet's not that far behind him. These are these are not spring chickens, and they grew up at a time when when the grass was the grass was in what you

Coca Cola Warren Buffett Charlie Munger Cannabis Charlie Monger Coke LIZ Berkshire Hathaway Omaha Nebraska Jain Norma Molson Coors Constellation Brands Buffet United States Marijuana FOX One Hundred Percent Ninety Five Years Billion Dollars
"charlie munger" Discussed on WSB-AM

WSB-AM

11:22 min | 2 years ago

"charlie munger" Discussed on WSB-AM

"Our life, forty two Charlie Munger, Warren, Buffett's, Warren, Buffett's right hand, man. One does in words of wisdom from Charlie Munger. And then we're going to talk about which were. Halfway through. And then we're going to get to the US economy versus the rest of the world the rest of the world the global economy slowing down. What does it mean for the United States? We went back in history and looked at the results of a slowing global economy. What it does here t the United States? So all here on money matters. We're also in the middle of a call. So before we get into anything else, we need to get back to we need to get back to this. Call and get through helping Jason and Smyrna talking about selling the house buying a house. What should he do? I we so far JC still there. Yes, I'm still here. So far, we know that you're selling a house. It's totally well, we don't know that you have a house that's paid for your thinking about selling. It's worth about two fifty. You're going to buy a house for another fit five hundred and between five hundred six hundred. I don't know if that will change the number well five to six hundred now, and you, but you're young you're only forty so you've got a long way to go and. So I guess my first questions if you kept the old house, what would it rent for how much rent per month? Would you get from websites? I looked at it says somewhere between eight hundred to one point one percents. So that would put it. Maybe around two thousand about to well, and you see you have to know in your area. So is this in Smyrna? It's in Cobb County just inside eighty five. So technically in Atlanta address. But I think I'll Kelly. So what would it make sense that it's eighteen hundred bucks a month? Is that safe? Probably okay. That's twenty one grand a year divided by two fifty which is the value. It's about eight per about eight and a half percent. Would you could call that your cap rate, which is really just your rent annually divided by the price. Then if you think about the maintenance, and and holding it keeping everything working you're going to net, probably four and a half percent. A year by holding the property, which is not an amazing. It's probably not an amazing investment over time. The next question I have for you is if you're going to buy a place for five, let's call it five fifty you. Do you really do want to try to at least put twenty percent down? So you ask for rule of thumb, and I think that's the rule of thumb. That's most applicable in this situation. You're only forty you. Don't you don't want a huge mortgage on this new place. But at the very least you wanna avoid PM. I so effectively mortgage. Surged you've got to get the twenty percent equity in house in order to avoid that. And that's probably I don't know. Exactly on this house McCall at three grand a year. And if you're going to have this new house for a long time, then three grand a year really adds up. It's another. It's another big factor in this whole do I rent keep the old house, and ran it or not. So I if you're really going to get to the new place that's in the five range caught five fifty unless you think your current home? Is it a neighborhood that's going to absolutely blossom over the next decade? And that's a possibility. I think it's in Atlanta. That's where we are in the in the development of this city. It's a little harder to find. Right. I think it's a little tougher to say that my neighborhood's going to gentrify and become this amazing neighborhood over the next decade that's harder to find today because so many areas have gotten so much better. All. Ready and Atlanta that to me, particularly where you are in Smyrna just inside of eighty five. I don't if you look at data on housing in Atlanta and Ryan, and I have done this over and over again, it's it's hard to fathom how it's been so not good and it's partially because there's no there's no water boundary where we are. And you can just keep building out and out and out from the center the appreciation for homes in Atlanta. This not just in the city, but this is metro Atlanta. It's only around two percent a year. Interesting, and it's real. So it's hard to find a place that is going to blossom and all of a sudden become worth double what it used to be over a shorter period of time because the area itself got a lot better. That's much harder story to find in twenty nineteen my thought here for you with a young give you have kids yet. Yes. You've got a child you're working is your wife working? Yes. My thought here unless you really want to be a landlord and get into the landlord business, which is typically going to be a big chunk of your overall retirement strategy where you wanna have three four five homes over time, and they really become part of your overall income portfolio unless you really are thinking about in wanting to do that. My thought here is that you're probably better off taking at least a hundred of the proceeds maybe a little bit more than that. Depending on the math to get your twenty percent down at least avoid PM. I and then have a much smaller mortgage. That's I think where you're headed here. That's my rule of thumb that is probably most applicable in your situation Jason. So even if we did like eighty. Paid off that second mortgage that way. Well, if you eighty. Ten ten is effectively the way that works as long as it is getting is long as you're getting twenty percent equity in the house, then yes, that's as long as you take care of. And you're saving your call at three grand a year, maybe more. That's what I want you to do in this situation. Thank you for the call Jason. And thank you for. Again, anybody here that wants to get a hold of Ryan Healy myself throughout the week, we're happy to do. So so just go to your wealth dot com. Y O U, R wealth, your wealth dot com. You can Email us. We'll we'll get back to you within twenty four forty eight hours or going to Wes moss dot com. W E S M O S S dot com where you can effectively do the same thing. Those emails come straight to me and the money matters team. We've gotta get to ride. We we we have other calls. We we need to get to are. We going back to Charlie longer where we had it here. Ryan saying for now, I'm going Charlie monger, we've got to finish this up. So again, if we go back to this conversation with a ninety five year old billionaire who bid effectively started with Warren Buffett call it seventy years ago eighty eighty years ago, they're teenagers in Warren Buffett grocery store, defy grandfather's grocery store amassed a couple billion almost two billion dollars. And there's a lot. To learn from these investors over time and today, we've been going through a dozen words of wisdom. Charlie munger. We talked about beating the market or not being the market. We talked about time. Horizon quantitative easing. We then then what about politics Munger believes that if we if things were more lopsided, and we only had one party, let's say, whether you think if you're a Republican there would be way better to have all Republicans or you're democrat. And you think it'd be better to have all Democrats, and that's the way the world thinks right now more polarizing ever, then if if it were that case in the country would be in a much worse place as much as we think our party is the best. It's the balance of those parties that is still the most important thing that we have here in America when it comes to how we operates the balance of those extremes the checks and balances that we learned in third grade social studies class. That's the only way to operate. But but wouldn't it be better? If both parties hated each other lasts. According says Munger. Yeah, I think so. So we knowledge that that that both parties hate each other acknowledged that that exists and express what do we what do we do about it expresses her desire for to get better? At least a start. In some respect, we can all at least you our part in turning the that the negative tied that exists between political factions here in the United States, at least that's the wish of Charlie Munger. What about the debt? What about the twenty two trillion dollars national debt monger? Now, he's ninety five and he says look like for me doesn't matter. But we'll be an issue at some point just not in his lifetime. And it could be a very very long way off before it really creates a major problem number six on this list. China monger thinks that it's a it's natural tasks attention with China United states and China and their advantages were the the advantages are so great on both sides. So the advantages of free or better trade for us with China tremendous the advantages for China are tremendous and they're so good on both sides at some point. We're going to do deal. And at some point we will be it's it's smarter for both sides to work together. So so this is somebody that is that's live through almost a century of economics in the United States in politics. And that seeing that eventually the deal some some sort of deal gets done. He also believes that Trump putting some limits on free trade, at least the way he's negotiating is actually. Okay. Monger thinks that we have not many limits. We don't want a lot of limits. Not he is long as they're not huge. But some limits are okay. And we'll get a deal at some point in the relatively near future. Now. Yes, Munger who's lived through a lot many world wars. Of course, what could go wrong in the world. What's the what's the biggest threat that we have to stocks and the world that we live in. And again, he goes I go back to what is he what does he call this elementary, but worldly, wisdom elementary and worldly, wisdom, what's the answer to this question. What could go most wrong in the world. Now, if you if you really knew what was happening in the world the answer by Munger nuclear war. That's that's what goes wrong. That's the worst thing that could happen. That's the disaster. Global warming we can deal with nuclear or we can't. Since the day, they invented the hydrogen bomb. This is this is this dates Munger. The he remembers like it was yesterday mongers thought of that is the worst possible problem in the world. Yeah. I guess so elementary worldly, wisdom, he's right. All right with money managers. The doesn't words of wisdom. Charlie Munger that we're talking about the United States economy reverses the rest of the world state, more money matters straight ahead. Ten.

Charlie Munger United States Atlanta Smyrna Ryan Healy Charlie monger Jason Buffett Cobb County Warren Buffett China Warren Charlie McCall E S M O
"charlie munger" Discussed on Superinvestors and the Art of Worldly Wisdom

Superinvestors and the Art of Worldly Wisdom

05:01 min | 3 years ago

"charlie munger" Discussed on Superinvestors and the Art of Worldly Wisdom

"And this is where I spent the, you know, really most of career in on throughout the commodity side that also very closely linked to to micro in foreign exchange in others. And what so what do you feel? I mean because there's a lot of group think in the world of finance probably in a lot of. Front, you know industries? But what do you what do you feel that you know, your expertise? How do you feel that brings kind of a unique perspective to the world of finance? Well, I think in terms of you know, the genera in in some of my background that are coming from. You know, the world is not unique in the sense as many others. But I feel that perhaps my my uniqueness is more. You know, think quite differently on. I think you know, many people finance. Helps think more in numbers in ratios and things I think more. Enforces. I think more little bit in terms of Colibri disag- liver in that sense. I do actually draw my views, very contrarian us, you know, in in in this kind of namic soul. I do think sometimes people get dragged down to the very near picture into the very short term, the next take might use pretty much the oversight. They build on very very big picture of things, you know, that makes sense that models that you know, are mechanical in that sense. And I find that some of these these relationships is forces are very much in an appreciated by by the markets, and by many of their players, and in that sense. You know, I've done this before I have a track record with. I guess being identifying big transfix changes of trends. Such as the the energy markets, and this is done through. Building, you know pieces in understanding as you say, you know, number of animals weather's the technical side of genera in. But also understanding very well that I now make so of the markets and the different regimes, which we create so I've seen myself, I guess going into the area bubbles in developing the concept of anti bubble and trying to find ways in which you know, dealing with with being early in being dealing with. You know, you might be right for there's massive virginity. But also minding that dot huge risks, which is which is being early which. It's essentially acids, not more painful than than than than others, you know, that the being wrong because some in that sense everything comes together in this way. I think it is very awful to have a different perspective. But you know, you get a many ways to look at the market. And I think you'd have to understand no matter how fundamental you are or not unique consent technicals solution in other. So I think there's a lot of law revivals coming to to what we what we are. But certainly, I feel that definitely concern sinker. And the ideas that that we're about to discuss and the books and others, I think will will speak for themselves. And when I think of your work, I think of Charlie Munger has said it really helps you to have a variety of mental models from other disciplines that you can apply to the markets or whatnot. And when I think of your work, I think of your engineering and natural resources, and mining these things have, you know, the the mental models that are involved with understanding those things. Must have you know, terrific application to investing in the markets. And you mentioned the the energy. Sector, and you know, you're you're just talking about being early. But I I was looking back at your your call for the oil crash, which was you weren't just talking about a drop in the oil price talked about a real crash. That's exactly what we got. And it looked like your timing was impeccable for that. What was the process that you went through? Then that helped you see what nobody else was really seeing at that time. Well, I guess, you know, this is I found the writing. It's very powerful process in you think you know, it until you try to put it in in Reichen, whether is a business plan or her a letter through Santa or whatever it is. You know, right in is a very powerful process..

Charlie Munger Reichen Santa
Freakonomics for parenting: Selfish reasons to have more kids

Invest Like the Best

02:01 min | 3 years ago

Freakonomics for parenting: Selfish reasons to have more kids

"Charlie munger nerd i'd like him a lot i'm not afraid to say it i like him in part because he's pithy and he's pithy in ways i'm not because i'm too long winded he'll say you want to be a good partner deserve your partner try do it i don't meet them halfway meet them more than halfway and be deserving of someone good and it will probably happen i think that's reasonable you know sort of golden rule spun another way but it's like reasonable advice of the idea you had of picking your kids traits in your spouse i did mention that i was really influenced by this book that i recommend people sometimes called selfish reasons to have more kids so the joke the joke in our house is i wanted to kids them my wife wanted three and we come from four which is about right but one of the pieces of this book is book is kind of freakonomics for parenting freakonomics for kids is one way you can think about it and this guy did a bunch of twins looked at a bunch of twin studies all all you could get his hands on almost eight hundred twin studies and tried to find what was prove ably differentiated about parenting by finding twins that were raised by different families and so of course this is kind of call it the middle eighty percent of the distribution nothing crazy on either end some abusive silly awful situation in what he found is two things so you might get these right one of the provable things over time that you could find is the religion your children chose when they were adults the box they checked some level that makes sense you don't grow up jewish in one day become muslim very often and so not make sense and then secondly is when i mentioned childhood you what's the soundtrack in your head is it metal or alibis and so the environment your parents created and your house might influence that a lot of like what's your own highlight reel of your childhood and how you think about that and they're like everything else is a mixture of your parents your parents and so in that sense one of the conclusions out of that is if you won't particular tenure children choose them in your spouse and i definitely think that in our house so we have our oldest son is great and when he was a.

Charlie Munger Partner Eighty Percent One Day
Clark Park, Nasa and Jim Roope discussed on The Paul W. Smith Show

The Paul W. Smith Show

01:21 min | 3 years ago

Clark Park, Nasa and Jim Roope discussed on The Paul W. Smith Show

"Parade that'll be noon tomorrow what patent park more than fifty organizations and businesses will take part in that very colorful and fun event after that they'll be a big festival at clark park entertainment live music and such lots of food at clark park and that will take place tomorrow and sunday nasa is set to lift off for a first of its kind mission to mars here's jim roope i this is the first as far as drilling into mars going under the surface of iraqi planet says insight michigan engineer ravi prakash to understand how lucky planets like earth formed and it's the first time an interplanetary mission will be launched from the west coast and it's not because it's a shorter flight to mars from l a i actually asked that question and he reminded me mars is one hundred fifty million miles away going out of the west coast versus east coast is concerned is negligible yeah you know i i realized how stupid that question was the moment launches schedule some time between four and six am saturday jim roope los angeles and this is the big weekend for warren buffett and all of his followers lot of stockholders berkshire berkshirehathaway will hold his annual stockholder meeting this weekend that's all maha the meeting is the opportunity for warren buffett the oracle himself and his right hand man charlie munger to comment on the many investments they have they'll praise or even criticize the companies that they have that wraps up this.

Clark Park Nasa Jim Roope Ravi Prakash Warren Buffett Engineer Los Angeles Berkshire Berkshirehathaway Charlie Munger