Charlie Munger says people shouldn't put their retirement savings into bitcoin

Chairman and CEO Warren Buffett and Vice Chairman Charlie Munger preside over the Berkshire Hathaway annual meeting, nicknamed the “Woodstock for Capitalists.” The Omaha, Nebraska, event gives shareholders a chance to hear the legendary pair discuss investing, their economic outlook and life. For access to live and exclusive video from CNBC subscribe to CNBC PRO: cnb.cx/2NGeIvi
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[@177choi]

I've realized these 2 gentleman don't offer advice, they provide wisdom that will aide you throughout your whole life. Thank you sirs.

[@TB1M1]

It's pretty obvious stuff. All these questions really have nothing to do with the genius of Buffett and Mungers investment strategy.

[@sirus312]

bingo

[@tamarakuhn1634]

“The best thing you can do is be exceptionally good at something.” ~Warren Buffet

[@HashPhantom]

Like buying companies, firing half of the employees then claim to have made the company profitable. He is the best at that.

[@HHTan-ir3fw]

@@HashPhantom I believe your life goes nowhere.

[@jamesrav]

@@HashPhantom are there examples of that, I'm curious. You think of 'Corporate Raiders' as doing that stuff, but if he is buying 'good companies', they seemingly cant be firing the people who made them good. Example?

[@omaayun5765]

00pp77

[@omaayun5765]

98

[@NMAC27]

It wouldn’t be a proper Berkshire shareholder meeting without a quick Bitcoin jab. 🤣

[@jogmas12]

But we know they are wrong, right?

[@dhirajmeenavilli5508]

@@jogmas12 Only time can tell.

[@kylesmith4572]

@@jogmas12 I'm still holding my sea shells from my ancient island ancestors. i'm sure that their value will go back to a billion dollars each.

[@dustinhensley7995]

I sure hope you are not trying to compare to bitcoin

[@zacholiva8243]

The old guard fears crypto, they will always bash it even as it grows in their portfolio. It signifies an end to their ways.

[@LoneStar62]

The headline speaks volumes of where we are as a nation. Should have read, “Buffett: The best investment is in yourself.”

[@lucidvizion]

Thank you, that was my first thought.

[@typhoon320i]

Should have read "Buffett refuses to answer girl's question"

[@tylermorrison509]

You could look up the other video where Warren says he wouldn’t take all the BTC in the world for $25. Their stand point on Crypto is firm and this is another example.

[@Steyne968]

No better way to prepare for retirement than buying, holding and buying more dividend stocks. You will thank yourself you did!

[@bobbygunz9254]

Starting early is the best way of getting ahead to build wealth, It's such a pity most folks spend more and invest less while intelligent people always try to harness any investment opportunity. I've been diving deep into stock options.

[@chris-pj7rk]

@@bobbygunz9254 I don't think people choose not to invest, at worse risks must be considered. Truly the best way to find that balance between saving and living is by investing. The first 6 figure is the hardest but can easily multiply once cracked.

[@claradidi7573]

@@chris-pj7rk I have been thinking about how to grow my reserve by 100% or more within months. I will be grateful if you can give tips or anything on how to make good market picks and how I can get my portfolio diversified and balanced to meet up my target

[@chris-pj7rk]

@@claradidi7573 I invest using the services of Nicole Ann Sabin, an investment consultant I came across on a Yahoo Finance interview, she spoke very fluently, you can look her up over the internet with her full name, all the information you need to know about her are all there.

[@claradidi7573]

@@chris-pj7rk I just look her up, Her credentials are very much appealing, I left a message i hope she reply. Thank You!!

[@laupeter4594]

I love how munger doesn’t care and chomps on his biscuits as if he was at home. I agree having a skill is the best investment especially if they are healthcare related they provide consistent returns

[@quickcurechef5373]

I’d be doing the same if I was Charlie 😃 He doesn’t talk much, but when he does.. dear! 😳😃

[@tedfisk1211]

Munger is one of a kind and at 98, he is still pretty sharp.

[@GrimTTL]

He is pretty ill mannered. Lost a lot of respect for this scoundrel after the canadian trucker protests.

[@damonkatos4271]

Bitcoin is down 33% on the year from this post. And what I understand you can’t short it, so screw it.

[@UserHuge]

@@damonkatos4271 5y view though? You can short it ton of places

[@Gcock]

These men are geniuses. How does this not have 500 million views? This is the life advice that many claim they have no access too - I didn't- but I learned it the hard way. I don't have social media; but if you do and a good social citizen; please re post this. Salute.

[@googlebanmetoomuch2601]

He's been saying the same thing for 50yrs and people expect a different answer

[@sirus312]

lmao

[@TB1M1]

Uncommon sense.. the questions people are asking are nothing new.

[@robertagren9360]

It's worth repeating.

[@cmeller55]

Buffett is an american treasure. Sometimes you need the less flashy and straight shooters to guide the masses.

[@lawanbrown16]

I mean, neither one of them have anything to lose at this point except credibility.

[@southernman87]

Bet money they both own some bitcoin.

[@jogmas12]

Anyone who praise the federal reserve is not going to like Bitcoin or gold and these two not like either.

[@McRemmyBaby]

Notice no food workers

[@Zstray17]

I love these guys, but man it’s tough watching them slow down.

[@kokkeonglee]

My Senior, anyway that Berkshire Hathaway Inc able overtake BTC market cap?

[@larrydavis3558]

Stop listening to old men about the future. He is the past

[@videostoviews2262]

0:58 Don't mind if I do... Munch my perfectly edible nibbles away 😂

[@kleinbogen]

These two guys are national treasures!!!

[@markparker7457]

They missed all technology investments.. sorry I’ll take my chances

[@This_is_Rashad]

He made billions from apple. They are one of the largest investors of apple

[@markparker7457]

He came late to apple

[@markparker7457]

Like 2016 late

[@This_is_Rashad]

When you are very wealthy, people don’t like to take risks. He got in, when it was certain

[@rajadeejay]

@@markparker7457 They came in when everyone was dumping apple. It was at lowest valuations in a decade. So it does not matter if they came in late or not. What matters did they buy it at a good price or not. Thats what legendary value investors like them do.

[@LaEl1010]

Bullish! Buy Bitcoin.

[@Rooftop_Coreano]

HODL

[@jayfinne626]

Bitcoin just lives rent free in his head. 😂

[@DomiNationsGamer]

Wise words. God bless you both !

[@chupposity]

They can put the money in 3x short ETFs but not Bitcoin- whatever

[@aronious291]

I dont understand bitcoin so i hate bitcoin!!!!!!

[@bobfrog4836]

All my retirement funds are in Melania Trump NFTs.

[@pgtracer1]

lmfad

[@worldrepub]

This short video is a gem for ages.

[@financialwisdom432]

Well said

[@YouTubeFunHandle]

What wisdom.

[@L0CALDRUGMAN]

i think he also means you should buy energy companies because they do good even if its recession

[@DavidPat]

Keep your money in US Dollars. I'm sure the Fed won't print more and devalue the currency 😜

[@yezzzsir]

lol

[@GTJW22409]

And the banks wont freeze your account and use your money for bail outs

[@danielcooper4455]

I feel like listening to WB is like listening to Yoda

[@santiagojunior3940]

An excellent introduction about the basics of economics. Forex and crypto trading is one profitable money exchange service that elevate Investors and their financial

[@sarahfrederick5062]

agree with you, the Crypto is the most profitable venture I ever trade in, reached my goal of 20,000 in just weekly basis earning, setting realistic goals is an essential part of trading

[@Canyaman9010]

Mrs Jane henry has been trading for me, her techniques are marvelous, she made me see crypto trade from another angle, I keep making profits weekly with her

[@richardwilliams6483]

When I saw testimonies all over the place I thought it was all made up stories till I was convinced and gave it a try and honestly I don't regret the movel made because I invested ina big way

[@kimchuan9729]

No one, I mean NO ONE can argue about Mrs Jane she is the best trader l've ever seen even when Bitcoin is looking bearish with the market sentiment swinging low, but they kept us grinded with their real analysis, just the fact in the charts and I made good profits of daily.

[@shirleygeorge4985]

Great skills and knowledge about the market. I enjoy full profits when I started my investment with $2,000 and in just 2weeks of trading earned 40,000 and easy withdrawal with no complains

[@michaelpearson1928]

They don't invest in technology or innovation

[@Soloohara]

Charlie Munger is a living genius

[@wademckinnon2429]

Didn’t one of them buy Bito?

[@Barweezy]

I put my retirement into bitcoin and now I’m retired.

[@steve0ne11]

Famous last words.

[@Rocket_Man]

Gr8 watch🤙🏿

[@mikhailtolstykh4104]

Thanks for the advice Charlie, I'll be sure to buy as much Bitcoin as I can afford from here on out.

[@Timmy-Hi5]

haahah good one :)

[@ianshuman]

He said to *NOT* purchase bitcoin.

[@mikhailtolstykh4104]

@@ianshuman Why do you think I'm buying? Always do the contrary of these super-villains.

[@hitendrakarotiya101]

Watch Line goes up

[@marsdraskovic339]

No it’s always taken

[@Renould2010]

Great advise, 👏🏾👏🏾👏🏾👏🏾👏🏾👏🏾❤️🙏🏾🙏🏾🙏🏾👑

[@TheMightyKingzuru]

Charlie always dishing out hard, honest, brutal truth. He's not the one to sugarcoat things.

[@HyperRide79]

Yes but why would they both talk down a new "commodity" / "utility" and warren buys NUBANK in brazil? Nubank is a crypto bank & Warren want's you to not invest when he is.... The truth is, When someone's words or actions have an effect on the daily markets like Warren Buffett, If he tells you not to invest in something but invests in it himself, I think that is a reason to invest in it.

[@helenaraleigh7311]

[@antoniooneill7909]

[@reginaambrose3417]

@@antoniooneill7909

[@trautweinvallie2271]

@@reginaambrose3417 < Sonya seems to be seasoned I must say. I bumped into one of her podcasts on NFT bubble earlier last week. Her presentation was full of professionalism. In all honesty, she’s quite vast in the job.>

[@suttonpiero4806]

@@trautweinvallie2271

[@trautweinvallie2271]

@@suttonpiero4806

[@dannywalters958]

Of course, nobody should put all their retirement money into one source and rich people will talk like rich people but fact still remains that given the present state of the economy and all, it's still in our best interest to to embrace not only cryptocurrency but anything that's inflation resistant. My fa who made me my first million earlier this year in the peak of this inflation had been hammering on it. Guess I am now a believer, given that currently, the inflation is ripping us apart and I am not so affected.

[@dannywalters958]

@@davewong4783 I don't know if it's permitted here though. Name is Nancy Lynn Lewis and you can search any info you need about her.

[@planetsaver]

@@dannywalters958 Simply amazing! And to think this has always been emphasized makes it even sadder for stubborn people like me. Looked up the lady and she's got a pretty decent bio and seems American. Does she work with foreigners?

[@malvinalemire9628]

would have been nice to have joined the early train

[@haydenroberts5568]

@@dannywalters958 This right here is the second time I am coming across this name in a week,, My colleague at work seems to feel she's some kind of God sent angel,,,

[@dannywalters958]

@@planetsaver I guess. I don't stay in the States myself. Hahaha.

[@bergersontile2]

Invest in payphones !…. Time for your meds chuck

[@glovesforsocks4603]

okay their also 90+

[@paulmulligan2895]

the question had nothing to with bitcoin yet he has to mention it! Terrified!!

[@kokwahtan8577]

Put it out, what you like to be, n what you will be.

[@Tony-sr1ww]

I highly respect these men, but they do not understand Bitcoin. They have missed other major technological trends as well. Take a look at their holdings. They have peanut brittle in front of them for god's sake. They really should not speak on something they do not fully understand. Also, it sounds like they are talking negatively about Bitcoin because it competes with their assets and philosophy.

[@dbarbour1982]

How can Munger not see the opportunity of bitcoin with those thick ass glasses

[@loupasternak]

how can you tie your own shoes with that thick skull? hmmm ?

[@rainsunshine7186]

George Orwell 1984 you want that kind of world.

[@INFINITY-oe4is]

Number one tip that I learnt when investing is don't listen to rich people!

[@constitutionofaxioms3387]

Loved that

[@richardjudge2322]

Amen be the best you can be

[@Bradgilliswhammyman]

LOL I love when they put kids up to read these questions obviously written by their parents/teachers/etc as not so subtle jab at topic in question.

[@tamarakuhn1634]

I think the kids are shareholders passed on through generations

[@guidedbygreen1480]

Great video and life lessons, too bad the title is misleading lol

[@mdawg8770]

These dudes missed the iPhone... ya I'll take my chances

[@Tony-sr1ww]

What about your investment in Alibaba, Mr. Munger? You sold 50% at a major loss, and you are criticizing something that you do not understand and could equalize the playing field for normal people.

[@nogarden7274]

I love how she asks him what stock to buy and Warren responds, just watch Becky Quick 😅 He’s been doing it for decades.

[@defendingthefaith.7889]

Never put all your eggs in one basket. Have some in stocks. Some in crypto.

[@heavyassaultmode1503]

Right, and if I can exchange $1000 of electricity (cryptomining) for $10,000, I'll keep doing that.

[@walden6272]

So what would you do if your electricity bill goes up $4000 and the crypto you mine only value at $3000? What would happen to the cryptocurrency if mining is not profitable?

[@mrx2062]

Be good at something and have a scaleable business concept.

[@loupasternak]

ape nfts, many of the brothers do that

[@Justme1635438]

Live long and prosper!!! Cool guys!!

[@nicholaslandolina]

They can take being a doctor away... it's called loss of liscense

[@chessdad182]

Funny why do people get so excited when someone says don't invest in something? I knew right away that flames would be belching from the comments section. For a laugh, I read a few. But if someone said don't buy GM would people go on attack mode? Must be a reason.

[@mikhailtolstykh4104]

People wouldn't go on attack mode because they know GM is a bad buy while BTC is the power-move of the next 30 years and these establishment types are clearly trying to keep everyone else poor.

[@robertdewees9418]

Of course not, GM is a slow motion train wreck.

[@bobfrog4836]

It's because at this stage, irregardless of the future of crypt, crypto is a cult. LOL.

[@hgr3180]

@@mikhailtolstykh4104 or maybe your trying to keep us poor.

[@aronious291]

@@hgr3180 lol how would that benefit any one person stupid

[@theadventuresofelgincx6209]

pump it up, what about etherium?

[@ivak8988]

Charlie is always hungry and eating theses biscuits lol

[@rajbanwait325]

2.3 T in Dollars, .8T in Bitcoin...

[@shawncharles3478]

How much did Munger lose in Alibaba... is it millions or billions?

[@dshow1658]

Unbank! Do the research

[@kylesmith4572]

NOTE CARDS > ELECTRONIC DEVICES. You look silly.

[@stevenjenkins]

This title is clickbait. And even worse, a much better story is told within.

[@user-304jgojnegilrnw]

if stocks and s&p are trading more or less like a speculative asset and altcoins, how does that argument remotely stand other than the credibility gained for appeal to authority bias? Then again, their expertise is scoped to stocks and credit based finance, so what else are they supposed to say? rofl

[@AYVYN]

Nobody is stopping you, put you life savings in Bitcoin. All $200 of them.

[@BILLIONAIREGH]

Retirement Account - *Noooooo*

[@pjsromproom9378]

Yea you should put your retirement into Peloton and Netflix! LOL haha go change your diapers!

[@hugo7506]

You can always take a look at the ruling planet of your Midheaven, it's house and sign to help give you some ideas of what your calling is or the thing you would love to do.

[@praveenchawla6999]

Buffett: People are always looking for a winning lottery ticket.😀 Munger: If you don't do dumb things, you will be ahead in life.😆

[@loupasternak]

munger nailed it

[@michaellilienfeld4137]

#buy bitcoin

[@srr1463]

Lol. DeFi is about to destroy you all

[@akki11ify]

A very big compliment to Becky quick . She surely deserves it. And as always working on your self us the best investment.

[@QuoteFarm]

My skill is in the repair of engines. California has legislated the removal of engines and thus my skill.

[@Greeneggsandham123]

Who is winning? Kathy Woods or Buffet? I’ll stick with Buffet.

[@1linkbelt]

In the long run, you will win.

[@VeritasAmantesVocat]

Because that's how Warren Buffett got rich, by providing something of value to society....

[@banksy1740]

You mean liquified sugar to children :)

[@daveinthailand]

Strange buffet talking about trading commodities when he says you are a fool to own them he don't like gold silver People only had gold silver copper many years ago so why is he so negative about commodities STRANGE

[@wzupppp]

So sad to know these legends will likely not be among us for long

[@joshvir262]

10 more years plz

[@Anonymous-qu5jj]

legends? are you a shill or something? they are criminals that should be in jail

[@billr5842]

@@Anonymous-qu5jj Butthurt bitcoin bro spotted

[@barrymedeiros5190]

Or if they were around when the wright bros were experimenting with flight these two would definitely be saying that flying is for the birds

[@larslover6559]

What about Bitcoin? Buffet: Rat poison squared. About 5 years later: Buffet: "More expensive rat poison" Munger: "I like Bitcoin less than you do"

[@roorkollector5340]

All of these people asking questions have less than a 3rd grade reading level 😂😂😂😂

[@Toonottobe]

These two are the chief fudders of bitcoin.

[@Franco_City]

I suspect tim cook (who owns bitcoin) wants to add bitcoin to apple's balance sheet, but Berkshire wont be happy if he does. Smh

[@xenon333]

It's common knowledge which one stock is the best for retirement -- SPY. You'd simply invest in America.

[@chelsea7xhf]

It’s so true, Buffet used a 10 years bet to tell people the truth! But people are still listening to KZbinrs and til tok on how to trade. Average people should just invest regularly into SPY, then forget about the money until they retire.

[@AJohnson0325]

or VOO or VTI. Personally I do VOO.

[@aronious291]

@@chelsea7xhf lol youre dumb if you invest in spy now

[@Taurrus]

Sorry to all those clapping. "Bitcoin is the cheapest way to buy the future, because Bitcoin is the only medium guaranteed to not be debased, no matter how much its value rises."

[@paullemiremusic3101]

Wow I absolutely love what he has to say here

[@FUSIIMASTER]

Wow when ,will they retire ?? 🤣😅😂''

[@Bradgilliswhammyman]

Jesus these questions are painful af. Brevity is the soul of wit.

[@JohnJaggerJack]

Banks shouldn't use my retirement plan in high risk investments...

[@curmudgeonextraordinaire1884]

I agree, I don’t trust bitcoin.

[@BenonBoldstreet]

Two old gents who have made loads of money in shafting the poor digital currently scares the likes of them because it takes away power from them as they don't understand the use cases. The world changes and banks and hedge managers are sitting up at digital assets. So they where good at the past im looking at a new future and a new world, soon without them

[@rainsunshine7186]

George Orwell 1984 wake up.

[@michelleallen7394]

It's gonna be funny when we look back at this video 5 years from now at the bitcoin joke and realize the joke will be that bitcoin was in fact the most profitable investment.

[@rainsunshine7186]

George Orwell 1984

[@brigsomers7413]

Charlie is just salty that the legacy financial system is going down the drain and will be replaced by a new decentralized financial system that is much fairer and not controlled by men like Charlie.

[@an032nv]

This will never ever happen, it's just a Libertarian pipe dream.

[@urosuros2072]

If it ever comes to the point where centralised authorities fear takeover from decentralised system they will just shut it down just like China did

[@rainsunshine7186]

George Orwell 1984 a real winner.

[@albrown1812]

Kid or not,cute or not,Warren doesn't give stock tips...He doesn't let his actual strategic approach reach the public

[@steve0ne11]

Yeah it doesn’t matter if the dollar is inflated away and you’re 60 years old and have worked your entire life saving for your retirement. Go be a great lawyer or news reporter. Thanks Warren!

[@dustinhensley7995]

They won the game 30 years ago... so what incentive do they have to learn anymore?