Charlie Munger has commented on Bitcoin and Musk. Looking back today, some of his views may be right, some wrong, and some of his reflections on his mistakes may not be correct (for example, he believes his failure in investing in Alibaba was due to it being a damn retailer); some still need further verification.

Here’s a summary:

Munger's comments on Bitcoin:

• Munger stated: “Bitcoin is stupid, evil, and makes you feel like a fool.”

• "In my life, I try to avoid things that are stupid, and evil, and make me look bad in comparison to someone else, and bitcoin does all three."

• Munger stated: “Bitcoin is likely to go to zero, and it undermines the integrity of the Federal Reserve and the national currency system.”

• "It’s stupid because it’s very likely to go to zero, and it’s evil because it undermines the Federal Reserve System and national currency system, which we desperately need to maintain its integrity and government control and so on."

• Munger said: “The Chinese leader wisely banned Bitcoin, while we, thinking ourselves civilized, are dumber than the Chinese leader.”

• "He was smart enough to ban bitcoin in China, and with all our presumed advantages of civilization, we are a lot dumber than the communist leader in China."

• Munger said: “Bitcoin is disgusting and contrary to the interests of civilization.”

• "Bitcoin is disgusting and contrary to the interests of civilization.”

• Munger said: “Trading cryptocurrencies is nauseating, like trading feces.”

• “It’s like somebody else is trading turds and you decide, ‘I can’t be left out’.”

• Munger also compared: “If you could profit from trading freshly harvested baby brains, would you do it? Bitcoin is nearly as disgusting.”

• “Imagine if you could profit from trading freshly harvested baby brains. You wouldn’t engage in that, would you? It’s an abhorrent idea. To me, Bitcoin is nearly as objectionable. I see it as a mix of insanity and immorality. Those promoting it are a disgrace.”

• Munger said: “I am not proud of my country for allowing crypto garbage; it’s worthless, crazy, and absolutely harmful.”

• "I'm not proud of my country for allowing this crap — well, I call it crypto shit. It's worthless, it's crazy, it's not good, it …"

Munger's comments on Musk:

• Munger said: “I wouldn’t buy his stock, nor would I short it.”

• "I wouldn’t buy his stock, nor would I short it."

• Munger talked about Musk: “He is a genius but overconfident; never underestimate a man who overestimates himself.”

• “Never underestimate the man who overestimates himself.”

Munger's comments on Alibaba:

• Munger said: “I regard investing in Alibaba as one of the biggest mistakes I ever made.”

• "I regard Alibaba as one of the biggest mistakes I ever made."

• Munger said: “I was charmed by their position in the Chinese internet and didn’t realize they are still a damn retailer. The internet industry is highly competitive; it won’t be a cakewalk for everyone.”

• "I got charmed by their position in the Chinese internet; I didn't stop to realize they're still a goddamn retailer. It's going to be a competitive business, the internet — it's not going to be a cakewalk for everybody."

• Munger criticized Jack Ma for being “very arrogant” in dealing with the Chinese government, calling his public criticism of regulators “very stupid.”

• "Jack Ma made mistakes in dealing with the Chinese government. I think he was very arrogant for publicly taking shots at Chinese regulators. Pretty stupid, it's like poking a bear in the nose with a sharp stick. It's not smart. And Jack Ma got way out of line by popping off the way he did to the Chinese government. And of course it hurt Alibaba."

• Munger admitted to constantly reflecting on his investment in Alibaba: “I keep reminding myself of my mistakes because I think it’s good for myself.”

• "I keep rubbing my own nose in my own mistakes like I'm doing now because I think it's good for myself."

These further tell us that everyone should be an independent thinker. Trusting books too much is worse than not having books at all.

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