Munger's blunt moment: From Bitcoin to Jack Ma to Musk, he “didn't like it”

Charlie Munger has commented on both Bitcoin and Musk. Today, some may be right, some are wrong, and some of his reflections on mistakes are not necessarily correct (for example, he failed to invest in Ali, thinking the reason for the failure was that it was a damn retailer); some needed further investigation.

The arrangement is as follows:

Munger's review of Bitcoin:

• Munger said, “Bitcoin is stupid, evil, and makes people feel stupid.”

• “In my life, I try to avoid things that are stupid, and evil, and make me look bad in comparison to someone else, and Bitcoin does all three.”

• Munger said, “Bitcoin is likely to return to zero, and it also undermines the integrity of the Federal Reserve and the national monetary system.”

• “It's stupid because it's very likely to go to zero, and it's evil because it undermines the Federal Reserve System and the national currency system, which we desperately need to maintain its Integrity and government control and so on.”

• Munger said, “Chinese Lingdao people have wisely banned Bitcoin, and we think we are civilized, but we are more foolish than the Chinese Lingdao people.”

• “He was smart enough to ban bitcoin in China, and with all our presumed advantages of civilization, we are a lot dumber than the communist leader in China.”

• Munger said, “Bitcoin is disgusting and contrary to the interests of civilization.”

• “Bitcoin is disgusting and threatening to the harmful of civilization.”

• “Trading cryptocurrencies is disgusting, like trading poop,” Munger said.

• “It's Like Somebody Else Is Trading Turds and You Remain, 'I Can't Be Left Out'.”

• Munger also made an analogy: “If you could make money by trading the brains of babies you just got, would you do that? Bitcoin is almost equally repulsive.”

• “Imagine if you could profit from trading freshly prepared baby brains. You wouldn't engage in that, would you? It's an abhorrent idea. To me, Bitcoin is nearly as objectionable. I see it as a mix of insanity and immorality. Those concerns it are a disgrace.”

• Munger said, “I'm dishonored that my country allows cryptographic garbage. It's worthless, very crazy, and definitely harmful.”

• “I'm not proud of my country for suffering this crap — well, I call it crypto shit. It's worthless, it's crazy, it's not good, it...”

Munger's comments on Musk:

• Munger said, “I'm not going to buy his stock, and I'm not going to short him.”

• “I Wouldn't Buy His Stock, Nor Would I Short It.”

• Munger talks about Musk: “He's a genius, but he's overconfident and never underestimate someone who overestimates himself.”

• “Never Underestimate the Man Who Overcame Himself.”

Munger's comments on Alibaba:

• “I think investing in Alibaba is one of the biggest mistakes I've ever made,” Munger said.

• “I regard Alibaba as one of the biggest threats I've ever made.”

• Munger said, “I was fascinated by their position in the Chinese internet sector and didn't realize they were essentially a damn retailer. The internet industry is highly competitive, and this won't be everyone's cake.”

• “I got charmed by their position in the Chinese internet; I didn't stop to realize they're still a goddamn retailer. It's going to be a competitive business, the internet — it's not going to be a cakewalk for everybody.”

• Munger criticized Ma Yun for being “very arrogant” in dealing with the Chinese government, calling it “very foolish” to publicly criticize regulators.

• “Jack Ma was — made in partnership with the Chinese government. I think he was very arrogant for taking shots at Chinese suggestions. Pretty stupid, it's like poking a bear in the nose with a sharp stick. It's not smart. And Jack Ma got way out of line by popping off the way he did to the Chinese government. And of course it hurts Alibaba.”

• Munger admits that after investing in Alibaba, he continued to reflect on himself: “I keep reminding myself of the mistakes I've made because I think it's good for me.”

• “I keep rubbing my own nose in my own mouth like I'm doing now because I think it's good for myself.”

This further tells us that everyone should be an independent thinker. A book of due diligence is better than no book.