IDEA - love retelling Ed's prediction - and also Ed frequently highlighting Scott's, but what about all the incorrect predictions? Maybe you could do a End of Year special on predictions - bad and good for the year or last 5 etc.
When you guys discuss companies and brands that are especially emissions intense, like airports and fast fashion, it would be nice to have some climate context. Ray Dalio is another wealth of wisdom, but in his cyclical approach to understanding the economy, he basically never mentions the environment which I find to be a glaring issue. Highly relevant to the economy, and to Investing horizons IMO.
Ray Dalio is a clown that changes his opinions as people change their clothes. ESG investing is rubbish and the economic theory about it is not sound. That being said, the climate crisis is indeed real and we should take it more seriously with hard calls on damaging entities.
ROFLMAO on the “Young padawan, you are so cute” and “You think WSJ is immune?” So true and yes, clicks == money and that’s all the media is after today. Real news, is… meh, is at best an afterthought. That’s why I like you guys, keeping it real! Keep up the amazing work you guys! 🤘
Love Scott… I have been following Munger and Buffett for the last 15 years, I’ve been a Berkshire shareholder since 2008 and have been going to their shareholder meetings for the last 10 (when I moved to the US, I’m originally from Brazil). But here’s the but… it kinda annoys me when Scott says it’s mainly an insurance business disguised as a hedge fund (or whatever his words are) or that Berkshire wouldn’t be worth much if it wasn’t for Munger. I learned about Damodaran way before I learned about Scott because I was passionate about the art of valuation in my 20s, I wish Scott would run these two thesis by him or learn a single annual letter from Buffett to educate himself better on what Berkshire is. Anyways - immensely grateful for him bringing Munger up as a win regardless. Keep up the good content guys, you’re killing it!
if you disagree with him, why do you write a whole paragraph that lacks even a single specific counterpoint, explaining WHY he is wrong. Especially since you imply you are highly educated on what Berkshire is and know better than Scott.
The comments show just how people can’t be rational. You don’t have to hate/worship Elon to know that interview he gave last week is embarrassing. Why are people acting like he’s a genius for crying about how advertisers don’t like nazis? That was dumb and his 44b is going down the drain. That’s also dumb. Stop acting like it’s 4d chess. He messed up and that’s fine lol
00:03 Amazon projected to deliver 5.9 billion packages in the US 02:08 Market highlights and major financial news 06:11 The US government is taking steps to address rising housing prices. 08:10 ESG investment in SEC and DOJ 12:23 Approximately one-fifth of airports worldwide have partial private ownership. 14:21 Apple may be ending partnership with Goldman Sachs 18:18 Goldman and Apple's communication mishap 20:05 Apple plans to exit partnership with Goldman Sachs 24:03 Innovative supply chain strategies of Shein and Temu 25:57 Chinese companies exploiting tax loopholes in the US. 29:55 Charlie Munger's investment philosophy and impact. 31:41 Warren Buffett and Charlie Munger's wealth accumulation through Buy and Hold strategy 35:21 Nikki Haley may become a viable alternative to Trump. Crafted by Merlin AI.
The NYT Interview was instructional. We didn't know that ELON actually sounds like the usual & practically mandatory Tweaker hangin' outside the Hollywood Blvd. Seven-Eleven.
Love ya Prof, but simping for the SEC is wrong. Considering Gensler has been chasing lawful players like Coinbase, whilst cosying up to SBF. Theyve completely been hostile to crypto policy other than from a punitive/legislative approach (which theyve lost lel). We may not agree with the induatry, but its not in the SEC's remit to stifle technologies but portect peoplw from the bad actors within then. Long story short - SEC didnt catch SBF, they came after the fact. They are bad at their jobs. Love the show ❤
You point out the framing of the AAPL/GS story then frame your stories in regard to Elon or Biden. "Musk goes on unhinged tirade" vs "Musk calls out duplicitous nature of advertisers" or "Musk concerned about loss of objective journalism". I am pretty sure I vote the same as you two and am baffled that you miss all this. But I also remember the days of left and right editorials sitting side by side in newspapers, Donahue (cancelled by the MIC) and the Mclaughlin Group. Great show as always!
Scott, as a Rangers fan (Not "The Rangers" Ed) it would be a great investment for you! Rangers need investors who are business focused than businessmen that are Rangers supporters! Get Rangers and Celtic into the premier league and you will hit a $bn ROI
Deminimus shipping is enabled by a special arrangement sweetheart deal between USPS and China, making it cheaper to ship to a US home from China than the cost to ship 5 blocks down the street.
Please name a specific city where the government has successfully addressed the housing price problem. (Asking for a friend who would like to start checking Zillow for a place to live.)
I watched the entire 1.5hr CNBC / NY Times interview with Musk (not just the salacious snippets) and he seemed very sensible and logical. The woke mob wants to cancel him…and he’s is never going to comply with their agenda. And he doesn’t need to…even if X fails. I respect him MORE and Disney LESS.
@@kickhuggy Old school advertising where you attempt to appeal to the masses? Or woke advertising where you attempt to piss off 50% of the country? Aka...Bud Light style advertising.
@@TrendyStonepoint to a time when advertisers tried appealing to nazis. Go ahead, I’ll wait. Also the bud light ad is targeting trans people, you’re mad trans people get an ad? Do you also get mad for ads targetting black or old people?
Years ago, you would order a $1 USB cable and it was sent from Hong Kong by bulk mail. It took 3 weeks. Now Temu is sending bulk mail by air. Takes a week. It must be subsidized by CCP. You can order $15 worth and they send it for free. Try sending anything to China for $15? Anyway, America gets cheap plastic products at super low prices. We did our Christmas shopping on Temu. My kids don't really want anything. You can ask them 50 times and get no answer. But I let them go wild on Temu buying shit for themselves and family and it is hard to spend $100. We got 4 large packs of shit. More fun than $1000 at Target.
I'm not going to claim it isn't difficult to purchase a home in today's market, but some of this 'I don't know how anyone can afford a home' talk is a bit overblown. I live in Westchester County, NY. It isn't inexpensive to live here. I purchased my home in 1990. It was $165,000 and my salary was $38,000. My wife was working part time make another $15k. In addition, the best rate I could find was an 8.6% ARM. It's not easy, but, using similar math, you should be able to afford a $450,000 house on a $150K total income.
You were making 2x the median household income in 1990 ($30,636). The average home sale price was $149k in 1990, so you bought 10% above the average sale price. In 2022 the median household income was $75k and average home sale price was $553k. You’d need to make 3x the average household income to afford a similar 10% above market home, versus 2x in your anecdote (still unrealistic).
@@lucaspm98 -- National Median (or average), well, anything, is one of those things that fall under Mark Twain's statement, "There are lies. There are damn lies. And there are statistics. I promise you I wasn't making 2x the median income for NYC. I also got a good deal on the house.
@@lamplighter5545 I’m sure taking geography into account your salary wasn’t crazy, but I’d be curious what home prices have done in the area too? Overall I think my point still stands that on a national level you need to make about 50% more to afford the same house versus when you bought your first house. Maybe not a dire as the media portrays, but that’s pretty drastic.
@@lucaspm98 -- My house is now in the $500,000 - $550, 000 range. (I did a comp recently.) The job that I was doing when I bought the house pays about $100,000 now. So, there is an increased gap between salary and house price, but a fixed rate 30-year mortgage is about 1 point lower than the adjustable rate mortgage I was able to get. I'm trying to suggest that it isn't more difficult. I was reacting the people who say 'I don't know how anyone can ...' It's not that bad. Buy what you can afford. Maybe set expectations a little lower. When I moved in, we were a family of 4. The house had 1 bathroom. The kitchen was original to 1962. We were going to move in a few years. We stayed. I updated the kitchen and added a 2nd bath. Today, we have no mortgage, the kids have moved out and we have a comfortable, but not huge, place for 2 people.
What if you have enough money and you want a make something the way you think it ought to be made? Lamborghini, Tesla, Saab, Ghost Dog with Forrest Whitaker, like every Guns N Roses album… Maybe that’s how Musk is rolling here? He is certainly interesting, but also crazy like a fox 😎
I watched the entire 1.5hr CNBC / NY Times interview with Musk (not just the salacious snippets) and he seemed very sensible and logical. The woke mob wants to cancel him…and he’s is never going to comply with their agenda. I respect him MORE and Disney LESS.
I felt bad for the interviewer!!! When Elon cut loose with the first F U to the advertisers, the interviewer must have been thinking "where do I go from here", and then Elon repeats the F U and calls out Bob Iger by name.
My favorite podcast! Nikki Haley should express concern that a Trump victory would likely prioritize addressing his legal troubles and recovering financial losses over aiding the country, which aligns with his past actions. This may involve blaming Democrats for the economy during his term and spending time playing golf.
I hope you are right that Hailey will unseat DUHsantis. He is a weird weasel that would rival Frump as the worst president in US history. As a moderate Dem, I see her as a good person, not a right wing jack bag.
He’s not mad Elon said naughty words… Elon obviously doesn’t understand that advertisers don’t like bad publicity… even Fox struggled to get sponsors during the Tucker hour…
@@kickhuggyElon and Tucker are polar opposites, what am I missing ? Has Elon not done more for humanity than anyone else ? Tesla, charging stations, spaceX, satellites, chat gbt , neuro link ect… we can’t be serious to think Zuckerberg is such a great person ?
Do you know anything about demographics, like the "replacement birth rate", which is about 2.1 births per woman. Our current birth rate is 1.63 YIKES!!! We are going to run out of workers AND consumers. We need all the immigrants we can get. It will take five more years before Republican politicians realize this.
Elon is anti-union, and the only thing that will keep workers from being exploited is the unions. Billionaires don't need any help, they'll be fine. The lower middle class worker needs help, otherwise they'll end up working in an Amazon warehouse, pissing in a water bottle because the AI won't give them a bathroom break.
Damn Scott, I’m indifferent towards Elon, but the fact that you don’t give the guy any credit for accomplishing 10,000x more than you have and his companies are truly changing the trajectory of humanity for the better is just a bad look on you.
SBF and CZ forgot the one key rule: steal from the poor, get promoted. steal from the rich, go to jail
Yeah if it’s under 10,000 you get away Scott free if it’s billions you pay the piper the soap piper
So true!!
Scott busting Ed's not-yet-descended balls in the predictions, was fantastic.
IDEA - love retelling Ed's prediction - and also Ed frequently highlighting Scott's, but what about all the incorrect predictions? Maybe you could do a End of Year special on predictions - bad and good for the year or last 5 etc.
enjoy the podcast from time to time, first time seeing on youtube, damn this guy has a face for radio
....why be a dick?
When you guys discuss companies and brands that are especially emissions intense, like airports and fast fashion, it would be nice to have some climate context. Ray Dalio is another wealth of wisdom, but in his cyclical approach to understanding the economy, he basically never mentions the environment which I find to be a glaring issue. Highly relevant to the economy, and to Investing horizons IMO.
china does not care
Ray Dalio is a clown that changes his opinions as people change their clothes. ESG investing is rubbish and the economic theory about it is not sound. That being said, the climate crisis is indeed real and we should take it more seriously with hard calls on damaging entities.
ROFLMAO on the “Young padawan, you are so cute” and “You think WSJ is immune?” So true and yes, clicks == money and that’s all the media is after today. Real news, is… meh, is at best an afterthought. That’s why I like you guys, keeping it real! Keep up the amazing work you guys! 🤘
Love Scott… I have been following Munger and Buffett for the last 15 years, I’ve been a Berkshire shareholder since 2008 and have been going to their shareholder meetings for the last 10 (when I moved to the US, I’m originally from Brazil). But here’s the but… it kinda annoys me when Scott says it’s mainly an insurance business disguised as a hedge fund (or whatever his words are) or that Berkshire wouldn’t be worth much if it wasn’t for Munger. I learned about Damodaran way before I learned about Scott because I was passionate about the art of valuation in my 20s, I wish Scott would run these two thesis by him or learn a single annual letter from Buffett to educate himself better on what Berkshire is. Anyways - immensely grateful for him bringing Munger up as a win regardless. Keep up the good content guys, you’re killing it!
Agreed, his take on Berkshire was a miss
if you disagree with him, why do you write a whole paragraph that lacks even a single specific counterpoint, explaining WHY he is wrong. Especially since you imply you are highly educated on what Berkshire is and know better than Scott.
@@maxmeier532 because it needs way more than s paragraph, like a full shareholder letter like I mentioned.
Last time I came this early, I got slapped on the face.
Thanks guys. You don’t suck!
The last part where there weren't so many cuts was so much better! I hope you get back to that more natural flow!
What net worth (average) is needed to ”own” your own Gulfstream jet?
"If you have to ask....." The purchase price is less important than the costs to keep it in the air.
That prediction diss at the end was hilarious. :D
The comments show just how people can’t be rational. You don’t have to hate/worship Elon to know that interview he gave last week is embarrassing. Why are people acting like he’s a genius for crying about how advertisers don’t like nazis? That was dumb and his 44b is going down the drain. That’s also dumb. Stop acting like it’s 4d chess. He messed up and that’s fine lol
00:03 Amazon projected to deliver 5.9 billion packages in the US
02:08 Market highlights and major financial news
06:11 The US government is taking steps to address rising housing prices.
08:10 ESG investment in SEC and DOJ
12:23 Approximately one-fifth of airports worldwide have partial private ownership.
14:21 Apple may be ending partnership with Goldman Sachs
18:18 Goldman and Apple's communication mishap
20:05 Apple plans to exit partnership with Goldman Sachs
24:03 Innovative supply chain strategies of Shein and Temu
25:57 Chinese companies exploiting tax loopholes in the US.
29:55 Charlie Munger's investment philosophy and impact.
31:41 Warren Buffett and Charlie Munger's wealth accumulation through Buy and Hold strategy
35:21 Nikki Haley may become a viable alternative to Trump.
Crafted by Merlin AI.
Binance is not a company in the US only or altogether worldwide?
The NYT Interview was instructional. We didn't know that ELON actually sounds like the usual & practically mandatory Tweaker hangin' outside the Hollywood Blvd. Seven-Eleven.
Love ya Prof, but simping for the SEC is wrong. Considering Gensler has been chasing lawful players like Coinbase, whilst cosying up to SBF. Theyve completely been hostile to crypto policy other than from a punitive/legislative approach (which theyve lost lel). We may not agree with the induatry, but its not in the SEC's remit to stifle technologies but portect peoplw from the bad actors within then.
Long story short - SEC didnt catch SBF, they came after the fact. They are bad at their jobs.
Love the show ❤
You point out the framing of the AAPL/GS story then frame your stories in regard to Elon or Biden. "Musk goes on unhinged tirade" vs "Musk calls out duplicitous nature of advertisers" or "Musk concerned about loss of objective journalism". I am pretty sure I vote the same as you two and am baffled that you miss all this. But I also remember the days of left and right editorials sitting side by side in newspapers, Donahue (cancelled by the MIC) and the Mclaughlin Group. Great show as always!
oh, btw, doing butt-plug material right in the same category as "f Disney, etc". C'mon now
Orlando Muyshondt's hedge fund, Tyrian Investments, closed years ago. Perhaps he started another investment vehicle of which I'm unaware.
Scott, as a Rangers fan (Not "The Rangers" Ed) it would be a great investment for you! Rangers need investors who are business focused than businessmen that are Rangers supporters! Get Rangers and Celtic into the premier league and you will hit a $bn ROI
Fast fashion = forced hard labor 😢
Deminimus shipping is enabled by a special arrangement sweetheart deal between USPS and China, making it cheaper to ship to a US home from China than the cost to ship 5 blocks down the street.
Please name a specific city where the government has successfully addressed the housing price problem. (Asking for a friend who would like to start checking Zillow for a place to live.)
Detroit
Vienna
Dollars are used for crime more than bitcoin
It’s seems Scott will never understand there is a clear difference between Bitcoin and ‘Crypto’.
There isn’t a meaningful difference
Crazy obsession with houses!
People with low interest mortgages aren’t interested in increase in housing supply
I watched the entire 1.5hr CNBC / NY Times interview with Musk (not just the salacious snippets) and he seemed very sensible and logical. The woke mob wants to cancel him…and he’s is never going to comply with their agenda. And he doesn’t need to…even if X fails. I respect him MORE and Disney LESS.
Sensible, logical, but Orange face clown-like behavior.
agree
You don’t understand how advertising works
@@kickhuggy Old school advertising where you attempt to appeal to the masses? Or woke advertising where you attempt to piss off 50% of the country? Aka...Bud Light style advertising.
@@TrendyStonepoint to a time when advertisers tried appealing to nazis. Go ahead, I’ll wait.
Also the bud light ad is targeting trans people, you’re mad trans people get an ad? Do you also get mad for ads targetting black or old people?
If only i were alive 30 years before i were born so i could put $1,000 into Berkshire and be lucky enough to live to 2023 to turn it into $400k
Goldman’s nickname is ‘the vampire squid’ Scott. How do you not recall that? 😁
The buttplug joke wasn't a dad joke. What is happening to Scott? 😆
Yeah and he gets mad when Elon says some naughty words 😂😂
RIP Charlie Munger
Temu just wants data
Interesting analysis on headlines. Imagine other headlines that are optimized for click bait that are non tech... Imagine.
Can we get a shout out for Bitcoin?! It’s back
And if that Amazon package doesn’t get stolen? 😮
No mention at all of the most disruptive automotive company in history delivering their first new product in 4 years??? Really?
Charlie Munger and Noam Chomsky sound exactly like, or is it just me? 🤔😅
Years ago, you would order a $1 USB cable and it was sent from Hong Kong by bulk mail. It took 3 weeks.
Now Temu is sending bulk mail by air. Takes a week. It must be subsidized by CCP. You can order $15 worth and they send it for free. Try sending anything to China for $15?
Anyway, America gets cheap plastic products at super low prices.
We did our Christmas shopping on Temu. My kids don't really want anything. You can ask them 50 times and get no answer. But I let them go wild on Temu buying shit for themselves and family and it is hard to spend $100. We got 4 large packs of shit. More fun than $1000 at Target.
rat poison is getting very expensive
I plant myself firmly on Ed's side regarding Todd Boehly. The man is a monolithic tool.
Btw the headline chat is just modern media 101. Sex/drama/conflict sells.
Love the show but the liberal rants are getting excessive no? I’m with ya but it’s interfering with the show.
At some point, won't the lure of wearing cheap clothing made by slaves go away?
I'm not going to claim it isn't difficult to purchase a home in today's market, but some of this 'I don't know how anyone can afford a home' talk is a bit overblown. I live in Westchester County, NY. It isn't inexpensive to live here. I purchased my home in 1990. It was $165,000 and my salary was $38,000. My wife was working part time make another $15k. In addition, the best rate I could find was an 8.6% ARM. It's not easy, but, using similar math, you should be able to afford a $450,000 house on a $150K total income.
You were making 2x the median household income in 1990 ($30,636). The average home sale price was $149k in 1990, so you bought 10% above the average sale price. In 2022 the median household income was $75k and average home sale price was $553k. You’d need to make 3x the average household income to afford a similar 10% above market home, versus 2x in your anecdote (still unrealistic).
@@lucaspm98 -- National Median (or average), well, anything, is one of those things that fall under Mark Twain's statement, "There are lies. There are damn lies. And there are statistics. I promise you I wasn't making 2x the median income for NYC. I also got a good deal on the house.
Tell a 25 year old Gen Z person that, "You can afford a house if you just cut out the avocado toast at the coffee shop". See how that goes over.
@@lamplighter5545 I’m sure taking geography into account your salary wasn’t crazy, but I’d be curious what home prices have done in the area too?
Overall I think my point still stands that on a national level you need to make about 50% more to afford the same house versus when you bought your first house. Maybe not a dire as the media portrays, but that’s pretty drastic.
@@lucaspm98 -- My house is now in the $500,000 - $550, 000 range. (I did a comp recently.) The job that I was doing when I bought the house pays about $100,000 now. So, there is an increased gap between salary and house price, but a fixed rate 30-year mortgage is about 1 point lower than the adjustable rate mortgage I was able to get. I'm trying to suggest that it isn't more difficult. I was reacting the people who say 'I don't know how anyone can ...' It's not that bad. Buy what you can afford. Maybe set expectations a little lower. When I moved in, we were a family of 4. The house had 1 bathroom. The kitchen was original to 1962. We were going to move in a few years. We stayed. I updated the kitchen and added a 2nd bath. Today, we have no mortgage, the kids have moved out and we have a comfortable, but not huge, place for 2 people.
What if you have enough money and you want a make something the way you think it ought to be made? Lamborghini, Tesla, Saab, Ghost Dog with Forrest Whitaker, like every Guns N Roses album… Maybe that’s how Musk is rolling here? He is certainly interesting, but also crazy like a fox 😎
literally? I bet those grapes were sorry anyway!
I watched the entire 1.5hr CNBC / NY Times interview with Musk (not just the salacious snippets) and he seemed very sensible and logical. The woke mob wants to cancel him…and he’s is never going to comply with their agenda. I respect him MORE and Disney LESS.
I think the real point here is that it was bad behavior by a CEO
I felt bad for the interviewer!!! When Elon cut loose with the first F U to the advertisers, the interviewer must have been thinking "where do I go from here", and then Elon repeats the F U and calls out Bob Iger by name.
@@stevechance150 Don't feel bad for the interviewer. Journalists live for moments like that.
@@Aortadetroit He is certainly redefining what it means to run a company. Bad behavior...yes. But I prefer results to smooth talking.
I have 4 baby neices and if I go on Shein I am lucky if I only spend $150.
My favorite podcast! Nikki Haley should express concern that a Trump victory would likely prioritize addressing his legal troubles and recovering financial losses over aiding the country, which aligns with his past actions. This may involve blaming Democrats for the economy during his term and spending time playing golf.
Q* can decipher encryption. Crypto is going to zero.
I hope you are right that Hailey will unseat DUHsantis. He is a weird weasel that would rival Frump as the worst president in US history. As a moderate Dem, I see her as a good person, not a right wing jack bag.
Last
Scott gets mad at Elon for saying naughty words but opens with a butt plug joke 🤦♂️👌😂
He’s not mad Elon said naughty words… Elon obviously doesn’t understand that advertisers don’t like bad publicity… even Fox struggled to get sponsors during the Tucker hour…
@@kickhuggyElon and Tucker are polar opposites, what am I missing ? Has Elon not done more for humanity than anyone else ? Tesla, charging stations, spaceX, satellites, chat gbt , neuro link ect… we can’t be serious to think Zuckerberg is such a great person ?
@@kickhuggy no I think he understands lol he just doesn’t give a shit. It’s called f u money
Hey, let’s invite over a bunch of immigrants and make houses.
Do you know anything about demographics, like the "replacement birth rate", which is about 2.1 births per woman. Our current birth rate is 1.63 YIKES!!! We are going to run out of workers AND consumers. We need all the immigrants we can get. It will take five more years before Republican politicians realize this.
Making fun of someone mentally ill who has done more for our planet then both of you combined, real nice😢
Scott cant stand that elon has more money than he does
I don't understand why so little empathy to Elon musk? You can dismiss me as a Fanboy, but I think it's obvious that he has good intentions
Yeah, i had to turn this episode off, these guys are literally shilling for the government for this episode… wild.
Elon is anti-union, and the only thing that will keep workers from being exploited is the unions. Billionaires don't need any help, they'll be fine. The lower middle class worker needs help, otherwise they'll end up working in an Amazon warehouse, pissing in a water bottle because the AI won't give them a bathroom break.
Damn Scott, I’m indifferent towards Elon, but the fact that you don’t give the guy any credit for accomplishing 10,000x more than you have and his companies are truly changing the trajectory of humanity for the better is just a bad look on you.
Elon is having a midlife crisis... again.
It only took prof 5 seconds to bring up elon. And this time he made his co-host do the lousy shit talking. Rent freeeeee
The prof demonstrating his @ElonMusk envy once again, can he eventually kick the habit?