Warren Buffett’s right-hand man issued a warning to stock-market speculators, criticized the trading platforms enabling them, blasted SPACs, and downplayed the significance of bitcoin, Business Insider reports.
Charlie Munger, vice-chairman of Buffett’s Berkshire Hathaway, is also the chairman of Daily Journal, a newspaper publisher and software developer.
During a wide-ranging commentary he said of SPACs:
“The world would be better off without them. This kind of crazy speculation, in enterprises not even found or picked out yet, is a sign of an irritating bubble. The investment-banking profession will sell shit as long as shit can be sold.” Read more.
