It s not over, the 90-year-old investor said. I mean, in terms of the unpredictability.it s been very unpredictable, but it s worked out better than people anticipated for most people and most businesses. And it s just, for no fault of their own, it s just decimated all kinds of people and their hopes.
Covid created fabulous success
For some businesses like auto dealers, the pandemic even brought on windfall profits, said Charlie Munger, vice chairman of Berkshire and Buffett s longtime business partner. It didn t create just a return to normal; it created fabulous success they didn t anticipate, Munger said. The auto dealers are coining money that they wouldn t have had except for the pandemic.
They discovered that thanks to a well-known doctor in town, Dr. Edwin Davis, who told Buffett in a 1957 meeting he trusted him to manage money because the investor reminded him of someone named Charlie Munger. Well, I don t know who Charlie Munger is, but I like him, Buffett responded to Davis, the investing legend recalled in an interview with CNBC s Becky Quick, which aired Tuesday as part of a special, Buffett & Munger: A Wealth of Wisdom.
Davis and his wife, Dorothy, made it a goal to eventually connect Buffett and Munger, Buffett said. It happened over dinner two years later, in 1959, when Munger, then a lawyer in Los Angeles, was back in Omaha after his father, Alfred, died.
It s not over, the 90-year-old investor said. I mean, in terms of the unpredictability.it s been very unpredictable, but it s worked out better than people anticipated for most people and most businesses. And it s just, for no fault of their own, it s just decimated all kinds of people and their hopes.
Covid created fabulous success
For some businesses like auto dealers, the pandemic even brought on windfall profits, said Charlie Munger, vice chairman of Berkshire and Buffett s longtime business partner. It didn t create just a return to normal; it created fabulous success they didn t anticipate, Munger said. The auto dealers are coining money that they wouldn t have had except for the pandemic.
It s not over, the 90-year-old investor said. I mean, in terms of the unpredictability.it s been very unpredictable, but it s worked out better than people anticipated for most people and most businesses. And it s just, for no fault of their own, it s just decimated all kinds of people and their hopes.
Covid created fabulous success
For some businesses like auto dealers, the pandemic even brought on windfall profits, said Charlie Munger, vice chairman of Berkshire and Buffett s longtime business partner. It didn t create just a return to normal; it created fabulous success they didn t anticipate, Munger said. The auto dealers are coining money that they wouldn t have had except for the pandemic.
They discovered that thanks to a well-known doctor in town, Dr. Edwin Davis, who told Buffett in a 1957 meeting he trusted him to manage money because the investor reminded him of someone named Charlie Munger. Well, I don t know who Charlie Munger is, but I like him, Buffett responded to Davis, the investing legend recalled in an interview with CNBC s Becky Quick, which aired Tuesday as part of a special, Buffett & Munger: A Wealth of Wisdom.
Davis and his wife, Dorothy, made it a goal to eventually connect Buffett and Munger, Buffett said. It happened over dinner two years later, in 1959, when Munger, then a lawyer in Los Angeles, was back in Omaha after his father, Alfred, died.