Berkshire Hathaway’s veteran 97-year-old investor Charlie Munger has told the Sohn conference he’s “glad to be here” and at his age, “glad to be anywhere”.
He also warns that he views today’s markets as wildly overvalued in places.
“I consider this era an even crazier era than the dotcom era – the one that blew up in the last 2000s,” Munger says.
He says Australia should use its unique position selling minerals to China to build a positive relationship with it, not the opposite.
“I think China was right to step down so hard on corruption, I think the guy running China has done a lot right,” Munger says.
“In the history of the world, no big company has come up so fast as China. They were right to cut back on some of the exuberance that has come to the financial markets.
“I think Australia was very lucky to have China get so prosperous, so it’s been a huge blessing to Australia. I think Australia with its deep involvement in China can be in a constructive position, Australia can encourage the United States and China to be more reasonable.”
This article was originally posted by The Australian here.
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