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Thread: A "passing" thought

  1. #1
    Join Date
    10-22-01
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    A "passing" thought

    On Tuesday of this week Charlie Munger died at the age of 99. Mr Munger was the longtime partner of Warren Buffett and was co-chair of Berkshire Hathaway.

    Mr Munger remained mentally sharp to the end.

    In an op-ed for The Wall Street Journal in 2023, published when he was 99, Munger called for the U.S. government to ban bitcoin and other cryptocurrencies, writing that crypto is “a gambling contract with a nearly 100% edge for the house.” Earlier, he had described bitcoin as a “scumball activity” and “rat poison.”
    Sage advice I believe.

    And his well known wit remained as sharp as ever:

    Munger retained his sense of humor into his 90s, even though he was nearly blind, could barely walk, and his beloved wife, Nancy, had died years earlier. Around 2016, an acquaintance asked which person, in a long life, he felt most grateful to.

    “My second wife’s first husband,” Munger said instantly. “I had the ungrudging love of this magnificent woman for 60 years simply by being a somewhat less awful husband than he was.”
    RIP sir
    "A pessimist sees the difficulty in every opportunity, an optimist sees the opportunity in every difficulty” ---Sir Winston Churchill
    "Political extremism involves two prime ingredients: an excessively simple diagnosis of the world's ills, and a conviction that there are identifiable villains back of it all." ---John W. Gardner
    “You can’t go back and change the beginning, but you can start where you are and change the ending.” ---C. S. Lewis

  2. #2
    Join Date
    11-22-03
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    I strongly agree with his summation of bitcoin and its subsequent imitators...It's nothing better than a ponzi scheme...Occasionally I get asked at a gun show if I will accept bitcoin (or zelle or venmo or any of the other non-moneys) for one of my guns...I always get a blank look back when I ask them to reach in their pockets and show it to me......Ben
    The future is forged on the anvil of history...The interpreter of history wields the hammer... - Unknown author...

  3. #3
    Join Date
    10-22-01
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    When I was going to gun shows and buying, I always had a wad of cash with me. Only on occasion when what I was trying to buy was beyond my cash did I try to use a check---often without success I'd end up doing a cash deposit.

    As for Zelle---I do use that in a very limited way to transfer money between banks. So far so good. That is not a cash substitute, they are no more than an agent---much like Western Union. The good news is that I don't pay a fee.
    "A pessimist sees the difficulty in every opportunity, an optimist sees the opportunity in every difficulty” ---Sir Winston Churchill
    "Political extremism involves two prime ingredients: an excessively simple diagnosis of the world's ills, and a conviction that there are identifiable villains back of it all." ---John W. Gardner
    “You can’t go back and change the beginning, but you can start where you are and change the ending.” ---C. S. Lewis

  4. #4
    Join Date
    10-30-01
    Location
    Salt Lake City
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    Wife & her friends use Venmo for concerts, etc. So far so good on purchases under $100.

    Hunter
    I don't care if it hurts. I want to have control. I want a perfect body. I want a perfect soul. - Creep by Radiohead

  5. #5
    Join Date
    10-20-02
    Location
    16 miles west of the White House, Northern Virginia..
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    Agree 100% on bitcoin..

    I’ve only had one occasion that required Venmo (so far), contributions to a group gift.. I was able to have my daughter make the transaction.. problem deffered..

    Our credit cards have been “hacked “ several times, the bank always caught it and stopped the cards.. to this day I still will receive a text when I’m traveling if the card is used too far from the last time the card was used.. (text always says to call at number listed on back of card)

    When we were forced to have automatic payments, EZ-Pass (car toll), Netflix, retiree phone concessions.. Bank established an additional checking account with a debit card (no paper checks), this account has no overdraft protection and overdraft will be refused, also account number has no relation to main accounts .. I know what the monthly draw on this account should be and an automatic transfer keeps it fueled.. funny note: I recently had to make an administrative change on the EZ-Pass and had all associated paperwork handy.. the debit card is still “glued “ to the shipping papers, it has never been outside..

    Back to original topic.. Charlie Munger was quiet a guy.. he worked financial wonders and still had a sense of humor.. He was one of the most influential and wealthiest men around and he did it all “behind the curtain “…

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