Charlie Munger says "of course, I hate the Bitcoin success," calls the popular trading app Robinhood "deeply wrong" for encouraging what he sees as gambling on financial markets, and casually provides what could be a big clue in the mystery of who will succeed Warren Buffett as CEO. Buffett does a post-mortem on Berkshire's unsuccessful health care joint venture and light heartedly overrules his insurance chief on whether to write a policy for an Elon Musk mission to Mars.
Sat, May 1 2021 • 3:30 PM EDT
Key Chapters —
1. Motivation determines the morality of share repurchases
8. Pandemic risk was "totally underpriced" by insurance industry
13. Buffett follows politician's lead and dodges Bitcoin question
14. Munger: "Of course, I hate the Bitcoin success"
16. Buffett jokes that decision to insure a Elon Musk mission to Mars would depend on the premium
21. "I like banks generally" but we "didn't want as much in banks as we had"
27. Why Berkshire's Haven joint venture lost against the "tapeworm" of health care costs
28. Munger unintentionally reveals Greg Abel designated to eventually replace Buffett as CEO