Charlie Munger
👤 SpeakerAppearances Over Time
Podcast Appearances
Whatever he's learned is that Everybody needs some significant participation in the 12 companies that do better than everybody else. And you need two or three of them at least. And if you have that mindset, Apple is the logical candidate to be on the list for which you're gonna select your companies. And it's not very hard to come up with the idea that it may be okay
Whatever he's learned is that Everybody needs some significant participation in the 12 companies that do better than everybody else. And you need two or three of them at least. And if you have that mindset, Apple is the logical candidate to be on the list for which you're gonna select your companies. And it's not very hard to come up with the idea that it may be okay
We didn't put hundreds of billions, we put tens of billions into it.
We didn't put hundreds of billions, we put tens of billions into it.
Yeah, it got cheap. It got to be about 10 times or anything more.
Yeah, it got cheap. It got to be about 10 times or anything more.
No, no. The low hanging fruit for the idiot is it's not gone, but it's very small.
No, no. The low hanging fruit for the idiot is it's not gone, but it's very small.
Yeah, it was natural. That's why it happened. What causes that? Well, it's just, that's what human nature and competition, that's what it causes. Will we eventually have one? Eventually, this craziness in venture capital when they're all gone stupid, that's a natural outcome.
Yeah, it was natural. That's why it happened. What causes that? Well, it's just, that's what human nature and competition, that's what it causes. Will we eventually have one? Eventually, this craziness in venture capital when they're all gone stupid, that's a natural outcome.
I don't know how the world's going to, I know we're going to have as many as we did. They just happened. Would you continue investing in China? What's your position with that? Well, my position in China has been that the Chinese economy has better future prospects for the next 20 years than almost any other big economy. That's number one.
I don't know how the world's going to, I know we're going to have as many as we did. They just happened. Would you continue investing in China? What's your position with that? Well, my position in China has been that the Chinese economy has better future prospects for the next 20 years than almost any other big economy. That's number one.
Number two, the leading companies of China are stronger and better than practically any other leading companies anywhere. And they're available at a much cheaper price. So naturally, I'm willing to have some China risk in the Munger portfolio. How much China risk? Well, that's not a scientific subject. But I don't mind whatever it is, 18% or something, whatever's worked out in the Munger family.
Number two, the leading companies of China are stronger and better than practically any other leading companies anywhere. And they're available at a much cheaper price. So naturally, I'm willing to have some China risk in the Munger portfolio. How much China risk? Well, that's not a scientific subject. But I don't mind whatever it is, 18% or something, whatever's worked out in the Munger family.