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Five questions for Charlie Munger tomorrow if you get the chance to ask one:
1/ Charlie, you said once that Berkshire's estimate of its future opportunity cost was not less than 10%. Is it time to change that 10% estimate given current rates of return?
1/ Charlie, you said once that Berkshire's estimate of its future opportunity cost was not less than 10%. Is it time to change that 10% estimate given current rates of return?
2/ Charlie, is Jeff Ubben correct that the long bond at 2% for this long has created a difficult market for value investors since high-quality businesses have been revalued higher and higher because they’re treated as bond substitutes?
3/ Charlie, what assumed rate of return should a pension fund or endowment be using right now?
4/ Charlie has algorithmic trading caused businesses to become too focused on short term factors like quarterly earnings and not enough on the best interest of shareholders long term?
4/ Charlie has algorithmic trading caused businesses to become too focused on short term factors like quarterly earnings and not enough on the best interest of shareholders long term?
5/ Charlie, do you think people creating index funds using what they call value as a statistical factor understand that what they do is not remotely the same as using value as an analytical style in evaluating the purchase of a partial or complete interest in a quality business?
