Weekly "Focus" and Nonagenarians

Doubt there is more than one public company where the Chairman and CEO and Vice Chairman are nonagenarians (90+). Of course, the company is Berkshire Hathaway run by 92 year-old Warren Buffett and his long time partner Charlie Munger who is 98 years-old. This week Charlie Munger was interviewed on CNBC and they asked about his thoughts regarding cryptocurrencies like Bitcoin. Cryptocurrencies have been front and centre in the news due to the collapse of FTX, one of the key cryptocurrency exchanges run by Sam Bankman-Fried (better known as SBF). Charlie Munger has been a serious skeptic of “crypto” and said “digital currencies are a malicious combination of fraud and delusion”. He went further saying “This is a very bad thing. The country did not need a currency that was good for kidnappers” (ii). So far 2022 has been positive for Berkshire Hathaway shareholders and a serious challenge for anyone invested in cryptocurrencies.

 

Security	Price Return in 2022
Berkshire Hathaway (BRK.B)	+2.8%
Purpose Bitcoin ETF (BTCC.B)	-62.5%

Sources: ThomsonOne, Values as of November 17

 

Click on this week's "Focus"  publication from our economics team and please note our Weekly Focus will be returning Friday, December 9th. 

 

Brad, 

Bradley Goldhar | Senior Portfolio Manager and Senior Investment Advisor

BMO Nesbitt Burns Inc. | 1 First Canadian Place | 39th Floor | P.O. Box 150 | Toronto ON M5X 1H3
416.359.6650 (direct) | 416.359.7219 (fax) | 1-800-263-1883 (toll free)

bradley.goldhar@nbpcd.com

www.goldhargroup.com

 

Source: (i) ThomsonOne

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