Munger: The market is now crazier than it was in the online bubble. China bans cryptocurrencies!

Munger, 97, spoke about the current challenge of investing in a lucrative world. Munger also criticized the crypto boom again and praised China for taking action to restrict cryptocurrencies.

Charlie Munger, vice chairman of Berkshire Hathaway and longtime partner of the 'god of goods' Buffett, told a business conference in Australia on Friday (December 2nd) that now the world of business environment represents more than 90% of what it was in the last hundred years. Even "crazy" for 10 years. At the same time, he also thwarted the recent surge in cryptocurrencies by saying he would not hold them.

Munger, now 97, has touched on the current challenges facing global investments in profitability in recent speeches. He says the current investment is "heavier" than anything he has seen in his investment history in recent years.

“I think that measuring many products is far from their principle. By measuring theory, online marketing can do more than it does now.In general, I think the current situation is much more than a dot-com bubble. High commodity prices prevent traders from retaining market sharedit Munger.

Munger also criticized the crypto boom again and praised China for taking action to restrict cryptocurrencies. “I won't buy cryptocurrencies. I don't think they were ever created,” Munger said.

"I respect China more," said Munger. “I think China made the right decision. It's a total restriction for China,” Munger said. incorrect. "

“I want to make money selling products that are good for them, not bad for them,” Munger said. can't stand to join maddening success. "

Buffett, chairman of Berkshire Hathaway, a longtime Munger partner, has yet to approve all cryptocurrencies. Since the first mention of cryptocurrencies in 2013, the value of Bitcoin has grown from less than $ 130 to $ 60,000 in eight years. This rise did not change Buffett's view on cryptocurrencies.