Charlie Munger had snarky words for get-rich gurus — how he urged investors to build wealth instead

Charlie Munger had snarky words for get-rich gurus —
how he urged investors to build wealth instead

Warren Buffett’s longtime business partner, the late Charlie Munger, had a reputation for being curt when speaking with shareholders. Whether he was talking about building wealth or expressing skepticism about cryptocurrency, Munger would often speak candidly. 

During the 2019 Daily Journal shareholders meeting, Munger turned his attention toward the emerging daytrading-influencer market. Suffice to say, he wasn’t a fan of social media gurus teaching inexperienced investors how to trade stocks.

“If you take the modern world where people are trying to teach you how to come in and trade actively in stocks, well, I regard that as roughly equivalent to trying to induce a bunch of young people to start off on heroin,” he said. “It is really stupid.”

By Vishesh Raisinghani.

Full story at Yahoo News.