“Gold is a great thing to sew into your garments if you’re a Jewish family in Vienna in 1939,” the Berkshire vice chairman said, “but I think civilized people don’t buy gold, they invest in productive businesses.”
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fuck him
hahah.
I knew this would piss people off.
What an asshole
I don’t get that line. Is he trying to say Jewish families in 1939 were uncivilized? Maybe he likes what Hitler did to them? Fuck that nazi douche.
Munger, and his generation, are so vested and capitally committed to their monopoly customs that they DO NOT represent most investor’s interests.
I think he confuses issues, and remain skeptical if he isn’t attempting to obfuscate deeper financial controls.
That old goat has had a great ride, don’t you think?
Munger never lived with serious inflation. He is like most of his generation, and I hate to say it, Americans, who never experienced so much of what the rest of the world had to. See chart lableld inflation in the G5 1950-1994 http://econ161.berkeley.edu/econ_articles/theinflationofthes.html Although I am sure Ben knows best