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Charlie Munger is renowned investor who is a partner of legendary Warren Buffet at Berkshire Hathaway. His comments are of deep value to investors as he like Mr. Buffet bets on longer horizon and he, who is now 91 years of age has seen a lot of move in market and economic policy. Historically the duo has been right more often than not.
Last night he spoke at a conference in US.
Key highlights -
- Mr. Munger warned over the economy and mentioned that there will be harder times ahead. He expressed his concern over the value of money and expects that purchasing power of money to go down in the coming time.
- Similar concern has been raised by Mr. Buffet too, who said that there will be a time when the price of oil which would be a time to consider portfolio positions.
As world still remains too worried about deflationary pressure, success of current record monetary easing by central banks bears the risk of striking high inflation and turn 30 years of downtrend in interest rates.
