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BA Deere
Honored Advisor
‎05-06-2012 09:23 PM

Interview with Buffet`s Charlie Munger

Here`s a Zero Hedge piece that I went to for Munger`s take on gold...and of course got side tracked Smiley Happy  I had to listen to the entire interview.  Towards the end he talks about how short term trading in the stock market has turned it into a "casino", Munger would tax exorbitantly short stock profits were he in charge.  I have mixed feelings....The CME is going to expanded hours, those with the fastest computers will rule the roost. http://www.zerohedge.com/news/charlie-munger-civilzied-people-dont-buy-gold-only-pre-holocaust-jews-...    Oh yah, Munger really didn`t think that the bailout of GM mattered much, stockholders were left out to dry.

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4 Replies
dagwud
Senior Contributor
‎05-07-2012 12:55 AM

Re: Interview with Buffet`s Charlie Munger

That is the one thing that gripes me with the GM bailout and the one thing many never want to mention is that the GM stock holders got royally screwed in the bail out deal.

 

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bruce MN
Advisor
‎05-07-2012 07:06 AM

Re: Interview with Buffet`s Charlie Munger

Getting something isn't better than nothing?  That's would have beenforthcoming, as the priary investors would have scuttled it ala Bain.

 

But not hard to see how an opinion here might be shaped.  I BING searched "GM bailot, hoping to find some numbers befroe replying dag.  This is what I got:

 

 

http://www.bing.com/search?q=gm+bailout&form=MSNH14&qs=n&sk=&x=86&y=16

 

fist page...Newsmax, Invetors Buisness Daily, FOX News, American Thinker, Wa. Times.....nearly all either thumper press or Murdoch's News Corp. 

 

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dagwud
Senior Contributor
‎05-07-2012 08:48 AM

Re: Interview with Buffet`s Charlie Munger

Bruce, I'm no business or investment guru but can tell you what my financial investor told me.  He has been in the financial investment business for over 20 years and is highly respected in his field.  He told me that he had several clients with most being retirement age that held GM stock as part of their investment portfolio.  He said they got around 10 cents on the dollar for their GM stock.  He claims in all the years he has been in the investment business, the GM bankruptcy was the most bizarre he has seen in the way it was handled and felt the investors got the short end of the stick.

 

I did a Bing search as well (typically use Google) and on the first page found this from CNN talking about how past stock holders were treated. 

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