To talk Crypto aka” rat poison. “ Give the old school fella credit , he no doubt saved many retail investors millions$$.
Lewitinn: Crypto is a flock of “black swans” I’m still trying to figure out how to share a video, I guess I’m still having trouble, sorry, it’s on cnbc. Anyway, again, Munger should get credit for, vigorously speaking out against so many sharp old timers who got, bamboozled.
Crypto is hardly a flock of black swans, all this was, at least at a high level, eminently predictable. Ponzi schemes always eventually fail. Nothing pays 20% interest without being extremely risky/scammy. Death spirals were well known things long before crypto. Bad actors, with nothing to really keep them from acting bad, will act bad.
Sure, the exact details weren’t predictable, but that eventually FTX/Celsius/Voyager/Terra/etc would eventually fall apart was.
Thanks, for sharing it. Are you a cnbc viewer ? How many bears were calling the space, rat poison ? At his age , does Munger need to be called names for speaking up, and taking on so many heavy hitters ? Good for him.
Where did you see/hear Munger was going to be on CNBC tomorrow?
I found nothing.
Cnbc said it on the air early this morning. He will be on at 6 am eastern.