Summary List PlacementCharlie Munger tore into bitcoin, Robinhood, and SPACs at Berkshire Hathaway’s annual meeting.
Warren Buffett’s business partner dismissed “big tech” competition concerns.
Munger warned that aggressive federal spending can’t go on forever.
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Warren Buffett’s right-hand man blasted bitcoin, Robinhood, and SPACs at Berkshire Hathaway’s annual meeting on Saturday.
Charlie Munger — Berkshire’s 97-year-old vice-chairman — also defended “big tech” companies from claims they need to be broken up, and warned that unchecked federal spending will ultimately end in disaster.
Here are Munger’s 16 best quotes from the meeting, lightly edited and condensed for clarity:
1. “It’s crazy to think anybody is going to be smart enough to hug the money and then just come out on the bottom tick in some crazy crisis and spend it all. That’s too tough a standard. Anybody who expects that of Berkshire is out of his mind.” — dismissing the idea that…