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“We all know what to do, we just don’t know how to get re-elected after we’ve done it.” -- Jean-Claude Juncker

 

This One Even Surprised Me…

Charlie Munger, now 95 years old, is one of the most blatant and clear-cut speakers I've ever encountered. His style of speech is to use powerful language in ordinary conversation. He uses few words, but the effect is a blast to the audience with a strong message.

Munger is the investing partner of Warren Buffett. Together, they've built the largest holding company of its kind in the world, Berkshire Hathaway. They’ve accomplished this through a combination of taking over insurance businesses, a wide array of private businesses, and establishing massive-sized positions in some of the strongest brands on the planet, at times of pessimism, when the share prices were cheap. Their investing style has been studied, analyzed, and has been the subject of countless books. Many of today's hedge fund managers grew up learning about value investing as well as the principles that Buffett and Munger planted in the American capitalistic sphere.

One thing that Buffett and Munger are famous for is their eternal optimism about American enterprise and the efficiency of the free-market system. Until a few years ago, they rarely commented negatively on politics or about monetary policy, domestically. That is changing, though. 

Munger exposed his real thoughts to CNBC by comparing the U.S. to Rome and to the British Empire, asking, "where are they now?" This comes after both Buffett and Munger mentioned that they wouldn't be surprised by a 50% decline in stock market prices. Finally, in an interview with Charlie Rose that really struck me as unique, Buffett – in a joint panel with Bill Gates – talked about universal income programs and government programs, which are partnerships with large companies formed to rejuvenate distressed areas. Socialism is becoming a frightening reality. ...
 
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Baby Frog: Mama, who is smarter- a chicken or a frog? Mama Frog: We are of course!!
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