2022 Daily Journal Annual Meeting | 2022-02-16

Charlie Munger, Berkshire Hathaway's Vice Chairman, and Jerry Salzman, Daily Journal's President and CEO, address shareholder questions on a range of topics. Munger defends investments in China, citing greater value for the dollar and stronger companies relative to competitors, while acknowledging political and regulatory risks. He expresses strong disdain for cryptocurrency, likening it to a venereal disease and praising China's ban. Munger critiques the excess liquidity in the stock market, advocating for measures to reduce short-term gains and gambling-like behavior. Regarding the economy, he acknowledges potential troubles from excessive money printing, drawing parallels to historical crises, but also notes Japan's resilience despite extreme monetary policies. He also touches on the importance of conserving petroleum and the potential of renewable energy.