Tesla: I Reread Charles Munger When In Doubt
Tesla: I Reread Charles Munger When In Doubt
Saryu Roy Performs Rudra Abhishek at Tarapur
Jamshedpur West MLA Conducts Religious Ceremony, Serves Kanwar Devotees
Key Points:
Saryu Roy performs Rudra Abhishek ceremony at Tarapur on Monday
Tarapur MLA Rajiv Kumar Singh honors Roy with traditional shawl
Bola Bam Seva Trust organizes devotee service camp in Munger
JAMSHEDPUR – Jamshedpur West MLA Saryu Roy conducted a Rudra Abhishek ceremony at Tarapur in Munger district, receiving…
विवाद सुलझाने गई पुलिस टीम पर तेज धारदार हथियारों से हमला, ASI संतोष कुमार की हुई मौत; जानें पूरा मामला
Bihar News: अररिया के बाद अब मुंगेर में पुलिस टीम पर हमला हुआ है। इसमें भी एक पुलिसकर्मी (असिस्टेंट सब इंस्पेक्टर) की मौत हो गई। घटना मुंगेर जिला के मुफस्सिल थाना क्षेत्र अंतर्गत नन्दलालपुर गांव की है। मृतक की पहचान ASI संतोष कुमार के रूप में हुई। वह मुफ्फसिल थाने में पिछले एक साल तैनात थे। वह भभुआ के रहने वाले थे।
बताया जा रहा है कि शुक्रवार रात आठ बजे सूचना मिली कि आईटीसी नंदलालपुर के पास दो…
7 Nuggets of University of Berkshire Hathaway (vol.23)
1. Buffet wanted Berkshire to be exposed as much as business around the world.
2. Berkshire less invested in U.S stocks than anytime in early 1970.
3. Lower interest rate
4. Too many debts of bad management
5. Success in the insurance business depends on understandable risks and properly priced under aggregation.
6. The ability to say no is crucial.
7. Munger concluded insurance in…
7 Nuggets of University of Berkshire Hathaway (vol.21)
1. Today, stocks are extremely popular.
2. Berkshire bought several businesses in 1999.
3. Munger discussed the collapse of Japan.
4. Munger concluded people were fear to borrow money.
5. Reasonable return on capital
6. Munger claim discount.
7. Buffet says to invest in yourself.
7 Nuggets of University of Berkshire Hathaway (vol.19)
1. What change technology would do?
2. What really matters is MOT(Merchandising-operational process-team) in the business.
3. Peter Lynch said, “Go for a business that any idiot can run – because sooner or later, any idiot probably is going to run it.”
4. Buffett agreed there are lot of money is made in telecommunication with those who understand it.
5. All that matters is to help those whom…
Before you set out to enjoy the Kentucky Derby, don’t forget to check out BERKSHIRE HATHAWAY’s Annual Shareholder Meeting.
99 Year Old Charlie Munger Calls for Crypto Ban
99 Year Old Charlie Munger Calls for Crypto Ban
Key Takeaways
- Berkshire Hathaway vice chairman Charlie Munger called on the United States to ban crypto altogether.
- The 99-year-old criticized the crypto industry for some of its predatory tokenomic practices.
- In 2021 Munger called crypto “disgusting and contrary to the interests of civilization.”
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99-year-old billionaire Charlie Munger thinks the lack of regulation in the crypto industry is causing private companies to release cryptocurrencies with predatory tokenomics. He isn’t wrong, but his solution—ban all crypto in the United States—seems a bit drastic.
Following China’s “Splendid Example”
Charlie Munger still doesn’t like crypto.
The 99-year-old Berkshire Hathaway vice chairman published an op-ed in the Wall Street Journal yesterday in which he called for the United States to ban crypto altogether.
“A cryptocurrency is not a currency, not a commodity, and not a security. Instead, it’s a gambling contract with a nearly 100% edge for the house, entered into in a country where gambling contracts are traditionally regulated only by states that compete in laxity,” stated Munger. He criticized crypto projects for pre-selling tokens to VCs before releasing only a sliver of the token’s supply to the public—a predatory scheme that allows seed-round investors to dump their holdings on retail investors.
“Such wretched excess has gone on because there is a gap in regulation,” Munger claimed, citing the need for governmental pre-approval of disclosures before making a privately owned company issue a new coin. He then urged the United States to follow China’s lead and simply ban cryptocurrencies, stating that the nation should thank “Chinese communist leader [Xi Jinping] for his splendid example of uncommon sense.”
It’s not the first time the billionaire has voiced his views on crypto; in fact, the op-ed may well mark Munger’s most reasonable criticism of the industry to date. In May 2021, Munger stated that the asset class was “disgusting and contrary to the interests of civilization,” adding that he didn’t “welcome a currency that’s so useful to kidnappers and extortionists and so forth.”
Munger’s famous business partner, Berkshire Hathaway chairman and CEO Warren Buffett, has also expressed his skepticism of crypto, though in milder terms. “The idea [that Bitcoin] has some huge intrinsic value is a joke in my view,” he claimed in a 2018 CNBC interview.
Disclaimer: At the time of writing, the author of this piece owned BTC, ETH, and several other crypto assets.
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