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This is the same Charlie Munger who backed airline stocks when everyone else was dumping them, outside only to finally realize how terrible they were far too la
by alasdair_ 6y ago
This is the same Charlie Munger who backed airline stocks when everyone else was dumping them, outside only to finally realize how terrible they were far too late and finally dump them weeks after the rest of the market did.
His opinion is absolutely valid, but it’s not like his track record is any more exceptional than Musk’s.
- ckastner 6y ago> It’s not like his track record is any more exceptional than Musk’s. Everyone makes mistakes, but to conclude that Berkshire Hathaways' track record is "not ... more exceptional than Musk's" is beyond folly. Their success over decades is unparalleled. Furthermore, Berkshire on principle plays the long game. They rarely act on short-term events. Tesla was also badly affected by the Covid-19 measures. The Fremont plant is still closed. You would have expected Munger to dump airlines sooner; but would you also have expected Musk to dump his TSLA stock, too? For some people, being an investor means looking at a time horizon of decades, not months.