Berkshire Hathaway Vice Chairman Charlie Munger shares his thoughts on human happiness at the 2023 Berkshire Hathaway annual meeting. More here: www.cnbc.com/b...
Yes we should encourage. But the rewards are decided by the market. If the market is flooded with too many wealth managers, the ultimate outcome is that their pay goes down or they get fired. Too few engineers and biochemists means those people’s pay goes up. Everything goes back to the basic tenets of supply and demand.
When wealth managers make more money investing in technologies than the people who develop those technologies, what do you think the outcome will be? Our system is ridiculous.
Three reasons who all have a connection: There are more people and our resources are going down. So, it's less to divide on more people. And you have this co2 issue. Allmost _everything_ produce co2. And the release of co2 should be reduced. A lot.
Thanks for your wisdom Charlie. A Teenager’s Guide on how to Invest Like Warren Buffett and Charlie Munger is a great book for those who want to learn more.
Most people shouldn’t drink, they become fools. Most people who attempt to manage wealth will lose it. You’re better to have men like them create businesses with good jobs.
Not many people understand Charlie's point. Many carriers get saturated with oversupply of individuals. This brings down the value in the game there is only so much in the kit that needs to be msnaged
Every high schooler sb taught about compound earnings, savings, stock investing and stock appreciation, bank accounts, budgeting, home buying and basic economics.
Charlie’s been on record for years saying that future ROE will be lower than it was in the past. Is that by coincidence or by design? He’s not a prophet, but he’s in a very advantageous position to know what’s in store with financial markets.
He is simply stating that the post WWII in the United States was a confluence of many different advantages that made an economic boom that was an era of economic growth unlikely to be matched. The growth has slowed likewise our expections should be tempered.
❤️❤️❤️❤️❤️❤️❤️❤️💔❤️❤️❤️❤️❤️ THANK YOU CHARLIE MUNGER FOR ALL THE GOOD TIMES AND LAUGHTER. YOU DESERVE THE BEST SEAT NEXT TO GOD OF COURSE YOU ARE USED TO THAT😅 ❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️
@Veronica.A. no billionaire has. And if they do. It's not donating if he is buying things with purpose to use as control. But normally, billionaires tell you to expect less or live with nothing just to convince you its better yet they control everything.
@@thelamb9656 he might be donating to save taxes. Who knows? Or he might not want to give his children his hard earned money. By the looks of it, he is done with his life and frankly, if I get to be as old as him( I ain't even half his age), I would embrace spiritually.
He made the wealth he isnt just the manager. He made the rope from vines he grew and cut himself would be a better analogy, make it yourself and do whatever you like. He is only stating a basic market oversupply is likely occuring
Nobody is stopping anyone from going into wealth management. He's just saying that the current proportion of wealth managers is unproductive for society.
He doesn’t like average people trading. He certainly doesn’t like the fact that I was the average people will be going long at the bottom after this market has been shorted.
He is rich enough to think like that. If you need to help make ends meet trading stocks and options there is no choice but to do short term trading. Taxes are the cost of doing business. I trade stocks and options part time to help supplement my income.
Love those two beautiful genius grannies they are becoming harmless babies rather than just getting old, except they are the two most powerful men in their 90s
I do not get it, did I understood what he said. He want more people to remain average? Is that the msg or he is trying to get in line with that guy who said "own nothing and be happy".
He is saying to encourage people to go into engineering and medicine.. Society needs more people in that field.. Not everything is abt money.. Happiness can be found in many different fields
Too many fake wannabe entrepreneurs only because its the new fad is what he means. Be rich in other areas doing the thing you really want to do. I think all these personal development gurus made it seem like it was all about the money. And its been like this for the last 20 years or so. Think and grow rich is a good example of where the american mind set was after the great depression. The problem is we’re not in a great depression, why is everyone trying so hard to get rich? Its not happiness…
Americans care too much about material wealth and status not to pursue maximum wealth. That goal for so many just reinforces the vicious cycle of moral decline in our so-called wealthy society.
@@mrguiltyfool waaahh. Both Munger and Buffett went through worse economic problems than our generation and they got a perfectly fine result just as we will. That was with the dollar losing 90% of it’s value. And his offspring’s generation is referring to Munger’s kids…Dan is an idiot
I learned early on in life that you don't have less because someone else has more. Most of my financial struggles have been because of my own stupid decisions.
It's good for you to take responsibility and that might be true for your situation, you are neither the greedy billionaires nor the poverty-stricken tent dwellers that are suffering. There are a lot of people in this country and dependent on this country's economy, which means for any one individual to possess even half of 1% of this country's total wealth means they are hoarding that money even if it's in the form of a business-like Amazon or SpaceX or any of musk's other eccentric hobby projects, that's money that would fund a small country that an individual is responsible for. Imagine what would happen if the value of Amazon assets was just dispersed into the economy, it would change people's lives.
And that doesn't even factor in dynastic conglomerate corporations such as Goldman Sachs, the Rockefeller group, or arms dealers with military contracts that award them hundreds of millions to billions of dollars per deal
@@Zentao420 no one owes you anything and only you are responsible for your failures. There are endless opportunities for success to those that actually want to earn it.
Not just in business but in government. I wonder how much 'American Civilization' as he calls it struggles because the elderly refuse to retire and pass the torch to the next generation.
If value creation would be rewarded more people would do it the problem is that there is so much currency being created out of nothing that sitting near that fountain is much more profitable. They are the reason people dont want to do anything productive anymore because a dumb influencer who never learned anything is making 10x more money in a ten minute video than other hard working people in an entire lifetime.
Well, then you'd better donate us million dollars. And give us some of your authority as well. Why you're so rich and established ? and here we don't even have 100$ bucks !
Expect less. Ya right. If I have to expect less. So should the wealthy. The wealthy can afford to have their net Worth's quartered They should expect less as well.
