Charlie Munger helped build Berkshire Hathaway into a multinational conglomerate.
He’s earned his place in the investing hall of fame alongside Warren Buffett.
Still, if you have any money in the markets (stocks, bonds, commodities, 401k, etc.)…
The motive behind his recent interview could hurt your wealth plan in 2023.
Here’s the story:
Munger and his partner Warren Buffett have been outspoken against cryptocurrencies.
However, he took it to another level in his recent CNBC interview.
“It’s ridiculous anybody would buy this stuff,” Munger told CNBC, “It’s crazy, stupid gambling. I think the people who oppose my position are idiots,” he said.
I have no issues with Munger’s bias against crypto. At his age, I wouldn’t bother investing in anything that volatile.
Still, you should be wary of the motive behind his remarks.
Munger got rich in traditional finance.
Banks account for over 85% of his portfolio.
Hence, admitting cryptocurrencies like Bitcoin have a future endangers his legacy and supports a technology that could disrupt most of his portfolio.
I couldn’t care less if you bought crypto.
But I hope you see why you can’t invest in what some of these billionaires say.
Mostly, they have underlying motives.
And you can’t just ignore sensible opportunities because they’ve written them off.
If you want to grow your money in this market, do your due diligence. Question everything and ensure you understand why you’re moving your cash from A to B.
This has been the secret to my success over the last 13 years.
It’s also how I encountered a unique group of traders with 917 wins and zero losses.
I’m a professional trader, so I didn’t believe it at first.
But then, I saw Warren Buffett profits from their strategy.
I tested it with $10,000 of my money and saw 3x returns in eight weeks.
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