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sagitarius84 (39.86)

Has Charlie Munger gone senile on US Energy Independence?



August 13, 2013 – Comments (3) | RELATED TICKERS: BRK-A , BRK-B , DJCO


Charlie Munger is the long-term business partner of Warren Buffett, the legendary chairman and CEO of Berkshire Hathaway (BRK.A) (BRK.B). Munger is the deep thinker who has managed an impressive record with his investment partnership, at Wesco Financial and Daily Journal (DJCO). Munger overcame huge obstacles in his life, including death of his son and divorce to make billions of dollars. Munger...

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3 Comments – Post Your Own

#1) On August 13, 2013 at 8:58 AM, sagitarius84 (39.86) wrote:

Charlie Munger is speaking out against US energy independence. What is your opinion on the matter?

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#2) On August 13, 2013 at 1:18 PM, constructive (99.96) wrote:

It's a dumb statement for sure. Oil has only appreciated 6.3% annually over the last 80 years. 10 year bonds were nearly 5% in the 1930s and a huge 80 year bond issue would have been viewed as junk and traded at 9% or more.

That said, Munger is a genius so cut him some slack. I can appreciate his point that oil reserves are valuable and might be expected to get more valuable. And also that importing oil isn't necessarily bad policy.

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#3) On August 13, 2013 at 5:13 PM, sagitarius84 (39.86) wrote:

Charlie Munger is an investment legend, so if this is the worst he has done, I will continue having him as one of my heroes. Honestly, I find Buffett to be more inspiring, as he is similar to me in only focusing on investing.

However, Munger has made billions despite big difficulties early on in his life. He also seems to have a more diverse set of interests, which is astonishing!

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