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Berkshire Hathaway's Charlie Munger Says U.S. In "Uncharted Territory" On $ 22 Trillion National Debt




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Charlie Munger, Vice Chairman of Berkshire Hathaway, interviewed by CNBC's Becky Quick on Squawk Box this Friday in Los Angeles, February 15, 2019. (Source: CNBC) CNBC

Charlie Munger vice chairman of Berkshire Hathaway and Warren Buffett's long-time business partner, interviewed on CNBC's Squawk Box this Friday by reporter & nbsp; Becky Quick said in the wake about the national debt of the United States (US) reaching a new record of $ 22 trillion that "we're in unchartered territory."

Adding that he doesn't care much about such matters, 95-year-old Munger added: "It's ruined by a great nation, a due time, whether it's Rome, whether it's Britain in its heyday, they all pass. And so our turn is bound to come someday. But I don't like thinking about it too much. It's like my own death. ”

As one of the most celebra ted investors in history who & nbsp; had an estimated net worth or $ 1.74 billion & nbsp; (as of February 2018) according to & nbsp; Forbes Magazine, & nbsp; he has played a key role in the success of Buffett, "The Sage of Omaha". Indeed, his investment caliber preceded his move to Buffett's Berkshire operations and from 1962 to 1975, Munger's investment partnership generated 20% annual returns versus the S&P 500's 5%.

 

Responding to a range of questions from Quick following The Daily Journal annual meeting yesterday in Los Angeles, California, where the billionaire serves as the publishing company's chairman, Munger gave his insight on matters both at home and abroad.

Asked as to whether the golden age of investing might be over, he responded by saying: “Well, not forever. [This is] because I think it is not like the last recession or the last big opportunity that the world is ever going to get. There'll be opportunities in the future. ”

He nevertheless acknowledged that" now is tougher "and harder due to two factors. Firstly, valuations have come and secondly the & nbsp; competition sorting through those opportunities is "more intelligent and more aggressive and more numerous." Warren Buffett, chairman and chief executive of Berkshire Hathaway Inc., left, and Charlie Munger, vice chairman of Berkshire Hathaway, seen on a video screen in an overflow room as they speak during the company's annual meeting in Omaha, Nebraska, US, May 6, 2017. (Photocredit: Daniel Acker / Bloomberg) & copy; 2017 Bloomberg Finance LP

On tensions between the U.S. and China about trade, he said: “I think that the advantages to United States and China, to get along, are so great on both sides, that I anticipate that they will reach some tolerable adjustment.”

I don't consider it wrong to have some limits on free trade that matter to the United States. I don't want many, and I don't want to be huge. But some limits on the operation of quite trade are quite acceptable.

The 95-year-old also said he "fastly prefers" American relations with China to their relations with Russia. "I think China thinks likewise. And, I anticipate that we will get along. It will be crazy on both sides if United States and China don't – does any one country, both sides should want to keep friendly, it's the other. ”

In response to a line of questioning on news that Amazon was pulling its headquarters bid for New York City and the growth seen by the US e-commerce giant generally, Munger remarked: "It's incredible what they've done."

Young, who has referred to Jeff Bezos as "ferociously smart", was asked for his prospect for Amazon over the longer term . “My guess has been a long way to go. Up, ”he told Quick.

On what he thought in relation to Bezos' recent move in relation to the owner or The National Enquirer & nbsp; (ie of the US supermarket tabloid) They're blackmailing me. They're extorting me "), Munger responded saying:" Well, I admire people who simply confront problems head on. And so I have no quarrel with his confrontation The National Enquirer . But I saw it as a little nothing … that the world could well do without. And to the extent they've behaved badly, and he's objectively vigorously… I'm all for it. ”

The full interview of Charlie Munger on CNBC Squawk Box with Becky Quick can be accessed via this link . To read more about Charlie Munger's investment strategy refer to this link .

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Charlie Munger, Vice Chairman of Berkshire Hathaway, interviewed at CNBC's Becky Quick on Squawk Box this Friday in Los Angeles, February 15, 2019. (Source: CNBC) CNBC

Charlie Munger, Vice President of Berkshire Hathaway and Warren Buffett's long-time business partner, interviewed on CNBC's Squawk Box this Friday by reporter Becky Quick said in the wake of the national debt of the United States (US) reaching a new record of $ 22 trillion that "we're in unchartered territory."

-year old, added: "It's ruined by a great nation, due time, be ruined. Whether it's Rome, whether it's Britain in its heyday, they all pass. And so our turn is bound to come someday. But I don't like thinking about it too much. It's like my own death 59005] As one of the most celebrated investors in history who had an estimated net worth of $ 1.74 trillion (as of February 2018) according to Forbes Magazine, he has played a key role in the success of Buffett, " The Sage of Omaha ”. Indeed, his investment caliber preceded his move to Buffett's Berkshire operations and from 1962 to 1975, Munger's investment partnership generated 20% annual returns versus the S&P 500's 5%.

Responding to a range of questions from Quick following The Daily Journal annual meeting yesterday in Los Angeles, California, where the billionaire serves as the publishing company's chairman, Munger gave his insight on matters both at home and abroad

Asked as to whether the golden age of investing might be over, he responded by saying: “Well, not forever. [This is] because I think it is not like the last recession or the last big opportunity that the world is ever going to get. There'll be opportunities in the future. ”

He nevertheless acknowledged that" now is tougher "and harder due to two factors. Firstly, valuations have come and secondly the competition sorting through those opportunities is "more intelligent and more aggressive and more numerous." Warren Buffett, chairman and chief executive of Berkshire Hathaway Inc., left, and Charlie Munger, vice chairman of Berkshire Hathaway, seen on a video screen in an overflow room as they speak during the company's annual meeting in Omaha, Nebraska, US, May 6, 2017. (Photocredit: Daniel Acker / Bloomberg). © 2017 Bloomberg Finance LP

On tensions between the US and China about trade, he said: “I think that the advantages to United States and China, to get along, are so great on both sides, that I anticipate that they will reach some tolerable adjustment.”

I don't consider it wrong to have some limits on free trade that matter to the United States. I don't want many, and I don't want to be huge. But some limits on the operation of quite trade are quite acceptable. ”

The 95-year old also said he was" fast-moving "American relations with China to their relations with Russia. "I think China thinks likewise. And, I anticipate that we will get along. It will be crazy on both sides if United States and China don't – does any one country, both sides should want to keep friendly, it's the other. ”

In response to a line of questioning on news that Amazon was pulling its headquarters bid for New York City and the growth seen by the US e-commerce giant generally, Munger remarked: "It's incredible what they've done."

Young, who has referred to Jeff Bezos as "ferociously smart", was asked for his prospect for Amazon over the longer term . “My guess has been a long way to go. Up, ”he told Quick.

On what he thought in relation to Bezos' recent move in relation to the owner of The National Enquirer (ie of the US supermarket tabloid" They " re blackmailing me. They're extorting me "), Munger responded saying:" Well, I admire people who simply confront problems. And so I have no quarrel with his confronting The National Enquirer . But I saw it as a little nothing … that the world could well do without. And to the extent they've behaved badly, and it's objectively vigorously… I'm all for it. ”

The full interview of Charlie Munger on CNBC Squawk Box with Becky Quick can be accessed via this link. To read more about Charlie Munger's investment strategy refer to this link .


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