In recent years, Charlie Munger, as a partner of Buffett, has been fiercely criticized by many young Americans. His negative attitude has led him to be called a "vampire" and a "Wall Street parasite." One of the biggest controversies is his views on Bitcoin. He has repeatedly called on the United States to ban bitcoin trading, and said that all virtual currencies are a game of "beating the drum and passing flowers". This has caused outrage among young Americans, who believe that Bitcoin is a currency created by the people to break the domination of Wall Street. The controversy was also fueled by the conflict between Munger and Bitcoin supporter Elon Musk, who taunted and lashed out at each other.
However, despite the criticism Munger has received, his investment achievements are unquestionable. Berkshire, which he and Warren Buffett founded, was a huge success. In the course of 66 years of entrepreneurship, Berkshire's investment return is as high as 201%, which is impressive. Warren Buffett's correct judgment of buying BYD** has allowed Berkshire to earn huge returns in the Chinese market.
As a leading company in the field of hybrid vehicles in China, BYD is highly appreciated by Munger. He highly recognized BYD's hybrid route and said that BYD will win the competition with Tesla. Munger's support and investment in BYD** have made Buffett get a huge return on BYD. Although Buffett himself is unable to drive a BYD car due to his age, Munger has repeatedly expressed his affection for BYD.
In contrast, Munger has a negative attitude towards Bitcoin, which is in stark contrast to his opinion of BYD. He believes that Bitcoin is a worthless virtual currency, and in his opinion, BYD, which has physical assets, is more worthy of investment. This view has sparked skepticism and criticism from many, especially those who have become rich overnight in the Bitcoin hype.
There are many versions of the story of how Munger discovered BYD, but the earliest account appeared in Fortune magazine in 2009 and is considered to have a high level of credibility. According to reports, an employee of Berkshire was looking for an investment opportunity in Shenzhen when he stumbled upon a low-cost, high-quality battery factory that had no advanced equipment and automated assembly lines, and the quality of its handmade batteries was comparable to that of Panasonic. The staff informed Munger of the discovery, which piqued his interest. Munger's recognition of the battery factory prompted him to go to China with Warren Buffett to inspect BYD and have an important meeting with BYD founder Wang Chuanfu.
At the BYD factory in Shenzhen, Wang Chuanfu showed Buffett BYD's environmental protection technology, and he even drank the battery dissolving liquid in front of Buffett to prove the safety of BYD's products. Despite the controversy, it became an opportunity for a partnership between Munger and BYD.
Charlie Munger remained optimistic about China's future in the final months of his life and said he would have wanted to look for new investment opportunities in China if it weren't for his age. He believes that China has strong technology and talent, and believes that Chinese assets are undervalued, and now is a good time. He stressed that China and the United States must get along well, which is beneficial to both sides.
Munger's views reflect his knowledge of the Chinese market and confidence in long-term investment. His evaluation and support have also won more attention and recognition for Chinese companies such as BYD.
In conclusion, Charlie Munger is a legend in the investment world who co-founded Berkshire with Warren Buffett and achieved extraordinary results. Although his views and attitudes have been controversial and criticized, there is no denying his achievements in the field of investment and praise for Chinese companies such as BYD. His optimism about the Chinese market also reflects his confidence and optimism about China's future.