Thanks for posting the link. I listened to the whole thing while exercising this morning and afternoon. It is interesting and refreshing. Three things occur to me:jacoavlu wrote: ↑Fri Feb 14, 2020 9:56 amyou can listen to the whole thing here instead of reading someone else's characterizations of his comments
Charlie is always interesting.
his comments about EBIDTA were about "adjusted EBIDTA"
listening to the whole thing I did not get the sense at all that he thinks current markets are a bubble
a questioner brought up the nifty fifty and he said today's markets are nothing like that
he also had many more good things to say about China than bad things
— the excerpts in the short article are wildly misleading as sole characterizations of his comments;
— he more or less defends tech stocks and the current market against any attempts to compare it to the nifty 50, and at no point says that we are in a bubble. In response to a question from a 28 year old (at the very end) about whether young people should be in equities, he replies with a discussion of the merits of deferred gratification and not spending your money on rolexes when young. Far from a warning about market climate;
— he is clearly positive on Chinese stocks, saying very explicitly close to the start of the question session that smart money is investing in China, and that the Chinese market has better investment opportunities right now than the US market. (His bluntness and explicitness on this point surprised me.)
He thinks Chinese investors behave stupidly, but he clearly also thinks most American investors behave stupidly — the Chinese are just newer at it, and so still behave even more stupidly.
It was fun to listen to, I recommend it to anyone who needs gym or walk material.