REFRESH: Warren Buffett & Charlie Munger: A Swing & A Risk (part 3)

Squawk Pod

CNBC

Investing, Business, News, Business News

4.2 • 543 Ratings

🗓️ 29 December 2021

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

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Summary

In part three of our most popular episodes of Squawk Pod, featuring real stories behind the leadership of Berkshire Hathaway, CEO Warren Buffett and Vice Chairman Charlie Munger share lessons learned from investing through nearly 7 decades of economic history. In conversations with Becky Quick, the two share their perspective on axe murderers, “swingers,” and the costs of a free market, and the two speak candidly on the dangers of Robinhood, bitcoin, and stock market “gambles.” Buffett identifies patterns in the economy’s long road from the Great Depression, Great Recession and the Covid-19 pandemic; he warns against the investing pitfalls of markets past. Munger details his own controversial opinion of China as a global economic power, and in a conversation exclusive to this podcast, Becky Quick shares her takeaways from over a decade of conversations with the pair. Warren Buffett Archive: https://buffett.cnbc.com/warren-buffett-archive/ Berkshire Hathaway Portfolio Tracker: https://www.cnbc.com/berkshire-hathaway-portfolio/ Sign up for CNBC’s Warren Buffett Newsletter: https://buffett.cnbc.com/2018/08/15/warren-watch.html Berkshire Hathaway, Inc.: https://www.berkshirehathaway.com/ Warren Buffett’s not-very-active Twitter @warrenbuffett Becky Quick, @BeckyQuick Katie Kramer, @Kramer_Katie Squawk Box, @squawkcnbc

Transcript

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0:00.0	This is
0:03.2	Charlie's Mike. And this is Warren's Mike. Warren's Mike.
0:06.4	This is Squack Pod. I'm C. NBC producer Katie Kramer. Today, part three of a
0:11.6	wealth of wisdom.
0:12.8	All this week we are revisiting our four-part series with Warren Buffett.
0:16.5	Hi!
0:18.1	Becky Quick sits down with the Oracle of Omaha.
0:20.6	At 91, he bought his first stocks in the aftermath of the Great Depression.
0:24.4	I think that the Pendham mall also swings to a better country over time.
0:28.2	I think it's a better country now than it was where we started than it should be.
0:31.6	Putting some of today's market mechanisms in perspective
0:34.7	with Buffett's longtime partner and Vice Chairman Charlie Munker.
0:38.1	You know, it contributed greatly to the great depression.
0:42.1	It will create terrible problems in the future. the Great
0:43.0	terrible problems in the future and what the hell good is a total return swap
0:47.3	doing the United States.
0:48.7	Why the biggest gambles may not yield the biggest profits.
0:52.0	Robin Hood, Bitcoin, no need to swing for the fences,
0:55.5	take it from the billionaires.
0:56.7	Who are the swingers here in this country?
0:58.7	Well, I don't want to start naming Chinese.
1:01.2	And looking at the reach of a global power.
	...

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