https://www.reuters.com/article/daily-journal-munger-brief-idINL1N2AC168
By Reuters Staff feb 12, 2020
Feb 12 (Reuters) - Charlie munger, longtime vice chairman of berkshire hathaway, says technological change is destroying daily newspapers in america
Munger is speaking at the annual meeting of daily journal corp, where he is chairman; meeting is being webcast by cnbc
Munger says the strongest companies are not in the united states; says chinese companies are stronger than u.s. Companies and are growing faster
Munger says he is ‘very partial’ to canada, and that it is wise for the country to have socialized medicine
Munger says people in investment management industry should ‘prepare for tougher times ahead,’ says there are ‘wreteched excesses’ in many well-paid hedge fund and private equity businesses
Munger says index funds 'work better' for most people
Munger says: 'i hate things like bitcoin. I hate things that are intrinsically antisocial.'
Munger, asked a question about global economy, expresses optimism for china, saying no one has taken a big nation forward so fast, creating an enormous period of growth and prosperity
Munger says: 'the united states ought to get along with china, and china ought to get along with the united states.'
Munger, asked about tesla, says: 'i would never buy it, and i would never sell short.'
Munger, on tesla ceo elon musk, says: 'elon musk is peculiar. He may overestimate himself, but he may not be wrong all the time.'
Munger says 'negative interest rates make me very nervous'
Munger says boeing is a 'great company' with a strong long-term safety record, but ‘they lost their way. They made some dumb mistakes.’
Daily journal annual meeting ends
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