Warren Buffett & Charlie Munger: A Swing & A Risk

Squawk Pod

CNBC

News, Business News, Business, Investing

4.2 • 543 Ratings

🗓️ 8 July 2021

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

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Summary

In part three of the Squawk Pod Berkshire Hathaway series, 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, through the Great Recession, to 2021, and 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. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0	This is
0:05.0	C. C. C. C. C. C. C. C. C. C. C. C. C. C. C. C. C. C. C. C.
0:07.0	Today, part three of a wealth of wisdom, our four-part series with Warren Buffett.
0:14.3	Hi!
0:16.3	Becky Quicks sits down with the Oracle of Omaha.
0:18.6	At nearly 91, he bought his first stocks in the aftermath of the Great Depression.
0:23.2	I think that the Pendham Mall also swings to a better country over time.
0:27.0	I think it's a better country now than it was when we started that it should be.
0:30.5	Putting some of today's market mechanisms in perspective with Buffett's longtime partner
0:35.0	and Vice Chairman Charlie Munger.
0:37.0	You know, it contributed greatly to the Great Depression and it will create terrible problems in the future.
0:43.3	And what the hell good is a total return swap doing the United States?
0:47.6	Why the biggest gambles may not yield the biggest profits.
0:51.0	Robin Hood, Bitcoin, no need to swing for the fences, take it from the billionaires.
0:55.8	Who are the swingers here in this country?
0:57.5	Well, I don't want to start naming swimmers.
0:59.8	And looking at a global power.
1:02.2	The Communist Chinese behave the way I am talking in favor of.
1:08.0	And our own wonderful free enterprise economy is letting all these crazy people go to this gross excess.
1:15.0	His unique take on China's regulatory and political power, Berkshire's builder Charlie Munger.
1:20.0	Communist did the right thing, they just called it in Jackbond say you aren't going
1:23.7	to do it sunny. Two lifetimes of investing insights from Berkshire's
	...

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