Munger: Goldbugs are Jerks

Munger is never shy about expressing his opinions.


 


 “I like working and understanding what works and what doesn’t in human systems,” he said. “To me, that’s not optional. That’s a moral obligation. If you’re capable of understanding the world, you have a moral obligation to become rational. I don’t see how you become rational hoarding gold. Even if it works, you’re a jerk.”

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Ha.... Is he cursing Warren Buffett's father? :):):) -天下无马- 给 天下无马 发送悄悄话 天下无马 的博客首页 (4399 bytes) () 01/18/2011 postreply 14:57:56

To be honest, wall street is where the jerks prosper. -天下无马- 给 天下无马 发送悄悄话 天下无马 的博客首页 (227 bytes) () 01/18/2011 postreply 15:21:37

no need to discuss Gold any more -越王剑- 给 越王剑 发送悄悄话 (207 bytes) () 01/18/2011 postreply 15:23:34

:) agree completely. -天下无马- 给 天下无马 发送悄悄话 天下无马 的博客首页 (72 bytes) () 01/18/2011 postreply 15:25:38

last 10 years is not big enough a sample. -longterminvestor- 给 longterminvestor 发送悄悄话 longterminvestor 的博客首页 (0 bytes) () 01/18/2011 postreply 15:38:08

Then study history and constitution of America. :) -天下无马- 给 天下无马 发送悄悄话 天下无马 的博客首页 (0 bytes) () 01/18/2011 postreply 15:43:19

he means the sky above his well -大猪头-- 给 大猪头- 发送悄悄话 大猪头- 的博客首页 (68 bytes) () 01/18/2011 postreply 15:48:40

Goldbugs are not jerks, just pessimists. -longterminvestor- 给 longterminvestor 发送悄悄话 longterminvestor 的博客首页 (40 bytes) () 01/18/2011 postreply 15:14:11

Yeah, have not we seen in last ten years as -天下无马- 给 天下无马 发送悄悄话 天下无马 的博客首页 (286 bytes) () 01/18/2011 postreply 15:24:31

paper money is far from perfect, but it is the best we can find -longterminvestor- 给 longterminvestor 发送悄悄话 longterminvestor 的博客首页 (618 bytes) () 01/18/2011 postreply 15:36:12

So you believe WS is bilaterally fare? :) -天下无马- 给 天下无马 发送悄悄话 天下无马 的博客首页 (516 bytes) () 01/18/2011 postreply 15:42:06

I am not saying there is no corruption, I applaud when countrywi -longterminvestor- 给 longterminvestor 发送悄悄话 longterminvestor 的博客首页 (174 bytes) () 01/18/2011 postreply 15:53:06

Are founding fathers jerks stating gold&silver as money in US c -大猪头-- 给 大猪头- 发送悄悄话 大猪头- 的博客首页 (473 bytes) () 01/18/2011 postreply 15:40:21

Always surprised that so claimed "love america" never -天下无马- 给 天下无马 发送悄悄话 天下无马 的博客首页 (80 bytes) () 01/18/2011 postreply 15:46:02

people like Munger do not hate goldbugs, they are -longterminvestor- 给 longterminvestor 发送悄悄话 longterminvestor 的博客首页 (426 bytes) () 01/18/2011 postreply 15:49:37

he does not hate them, he just call them jerks -大猪头-- 给 大猪头- 发送悄悄话 大猪头- 的博客首页 (225 bytes) () 01/18/2011 postreply 16:21:06

are founding fathers experts on economy? especially mordern econ -longterminvestor- 给 longterminvestor 发送悄悄话 longterminvestor 的博客首页 (135 bytes) () 01/18/2011 postreply 16:29:14

study some history, please -大猪头-- 给 大猪头- 发送悄悄话 大猪头- 的博客首页 (102 bytes) () 01/18/2011 postreply 16:32:14

what is wrong with my statement? -longterminvestor- 给 longterminvestor 发送悄悄话 longterminvestor 的博客首页 (91 bytes) () 01/18/2011 postreply 16:35:47

try to answer the questions I raised -大猪头-- 给 大猪头- 发送悄悄话 大猪头- 的博客首页 (51 bytes) () 01/18/2011 postreply 16:37:04

OK, the founding fathers are not jerks in their times to believe -longterminvestor- 给 longterminvestor 发送悄悄话 longterminvestor 的博客首页 (887 bytes) () 01/18/2011 postreply 16:50:33

sound money provides dicipline -大猪头-- 给 大猪头- 发送悄悄话 大猪头- 的博客首页 (80 bytes) () 01/18/2011 postreply 16:36:09

I agree dicipline is important, but it does not mean -longterminvestor- 给 longterminvestor 发送悄悄话 longterminvestor 的博客首页 (324 bytes) () 01/18/2011 postreply 16:42:39

Once people are part of the wall street, they won't be able to s -datodato- 给 datodato 发送悄悄话 datodato 的博客首页 (41 bytes) () 01/18/2011 postreply 20:29:07

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