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Crypto Critic Charlie Munger, Warren Buffett's Right-Hand Man, Dies at 99

Analysis and Forecasts
2023-11-29 16:51:40
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Charles Thomas Munger, the legendary investor and vice chairman of Warren Buffett's Berkshire Hathaway conglomerate, died on November 28th at age 99. As one of the world's most successful businessmen, Munger was also an outspoken cryptocurrency skeptic who frequently dismissed the asset class.

Alongside Buffett, Munger transformed struggling Berkshire Hathaway into a $700 billion behemoth through prescient investments guided by strict value principles. His own investment partnership generated nearly 20% annualized returns from 1962 to 1975.

When Buffett credited Munger as deserving "all the credit" for Berkshire's ascent, it was no exaggeration given Munger's exceptional decades-long track record across law, business and finance before their partnership.

Yet despite his pedigree, Munger staunchly criticized speculative assets like cryptocurrencies. He referred to Bitcoin as "noxious poison" and "turds", slamming the concept as "massively stupid" and "dangerous." Munger advised investors to simply "never touch it."

Time will tell whether Munger's crypto views age well. But the business world undeniably lost an towering figure - one whose plain-spoken warnings made him king of the Bitcoin bears right up until his death at 99 years old.

 

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