Charlie Munger said: "Crypto is just ridiculous that anybody would buy this stuff... it's massively stupid."

2/18/2023

On crypto he said: “I think people who oppose my position are idiots."

He also said: "Crypto is just ridiculous that anybody would buy this stuff... it's massively stupid."

Previously he called for a ban in crypto.

He said numerous other things.

“I might have different ideas [than Buffett],” Munger said.

“Artificial intelligence is very important but there is a lot of crazy hype on the subject. AI is not going to cure cancer,” he said. “There’s a lot of nonsense in it too. I regard it as a mixed blessing.”

Munger said he remains optimistic about China’s economy, but conceded that Daily Journal’s investment in Alibaba was “one of the worst mistakes I ever made.”

“I never stopped to think [Alibaba] was still a retailer. It’s going to be a competitive business,” he said.

He also said: “BYD is so much ahead of Tesla in China it’s almost ridiculous,” Munger said.

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