Charlie Munger on Passive Investing
Charlie Munger was Asked about Passive Investing and his response was shocking! - He likes Larry Fink, Black Rock and Vanguard but he doesnt want them to become Emperors. He thinks the consecuences of whats been going on will be huge and It Wont Be Good.
We go over the growth of Passive Investing, we dissect the response Charlie Munger gave at the Daily Journal Press conference Q&A and we talk about the three possible solutions to the problem.
There are unintended consequences for everything we do in mass and we'll have to deal with this problem before it gets out of hand, but it might already be too big.