Tuesday, July 27

Charlie Munger

Berkshire Hathaway, BYD stock, Charlie Munger, Electric Vehicles, Himalaya Capital Management, Li Lu, Markets, MI Exclusive, Warren Buffett

The investor responsible for Warren Buffett’s 25x gain on BYD just sold $320 million of the electric-vehicle maker’s stock

Warren Buffett. Paul Morigi/Getty Images for Fortune/Time Inc Li Lu's Himalaya fund sold 15% of its BYD stake in two days, netting about $320 million. Li encouraged Warren Buffett and Charlie Munger to invest in the Chinese automaker in 2008. BYD's stock price is down about 5% this year after soaring 400% in 2020. See more stories on Insider's business page. Li Lu introduced Warren Buffett and Charlie Munger to BYD, one of the pair's best investments over the past decade. The fund manager seems less bullish on the Chinese electric-vehicle maker today, given he recently cashed out more than $300 million of its stock in the space of two days.Li's Himalaya Capital Management sold 7.1 million shares for around $29 each on July 8, and disposed of another 3.6 million shares at a simila...
Charlie Munger, Finance, Markets, MI Exclusive, options trading, Robinhood, Robinhood app, Robinhood IPO, stock market 2021, Trading, Warren Buffett

Days after Charlie Munger called Robinhood’a gambling parlor,’ the free-trading app revealed options trading as its largest source of revenue

Warren Buffett, CEO of Berkshire Hathaway, and vice chairman Charlie Munger. JOHANNES EISELE/AFP via Getty Images Just two days after Charlie Munger of Berkshire Hathaway called Robinhood "a gambling parlor," the free-trading app said it derives a majority of its revenue from options trading.The comments from Warren Buffett's right-hand man came in an interview with CNBC on Tuesday night, in which the billionaire investor said, "it's telling people they aren't paying commissions when the commissions are simply disguised in the trading."On Thursday, Robinhood filed its S-1 with the SEC, a necessary step the company has to take prior to going public. The document revealed the underlying drivers of Robinhood's business, from options, equities, and crypto trading, to securities lendi...
Archegos Capital, Berkshire Hathaway, Charlie Munger, Markets, MI Exclusive, Pandemic, Regulation, Remote Work, Robinhood, Stocks, Warren Buffett

Warren Buffett and Charlie Munger slam Robinhood, blast Archegos’ lenders, and reflect on their iconic friendship in a new interview. Here are the 15 best quotes

Warren Buffett and Charlie Munger. CNBC Warren Buffett and Charlie Munger blasted Robinhood and Archegos' lenders in a recent interview. The business partners also reflected on their six decades of friendship and biggest influences. Buffett and Munger discussed remote working and the pandemic's impact on Berkshire Hathaway as well. See more stories on Insider's business page. Warren Buffett and Charlie Munger blasted Robinhood, slammed the banks that enabled the Archegos Capital meltdown, and reflected on their friendship of six decades in a CNBC interview that aired on Tuesday night.The Berkshire Hathaway chairman and vice-chairman also shared their key lessons from the pandemic, discussed its impacts on their company, and clashed on the subject of Zoom meetings versus telephone...
Berkshire Hathaway, Charlie Munger, Management, Markets, MI Exclusive, Pandemic, Remote Work, Stocks, Warren Buffett

Warren Buffett and Charlie Munger knocked Robinhood, discussed the Archegos fiasco, and reflected on their friendship in a CNBC interview

Warren Buffett. CNBC Warren Buffett and Charlie Munger took part in a CNBC interview that aired on Tuesday night. The billionaire investors criticized Robinhood and Archegos, and reflected on their friendship. Buffett and Munger also discussed remote working and the lessons they took from the pandemic. See more stories on Insider's business page. Warren Buffett and Charlie Munger discussed their iconic friendship, their key business principles, and what makes Berkshire Hathaway unique in "Buffett & Munger: A Wealth of Wisdom," a CNBC program filmed after the Berkshire annual meeting in May and aired on Tuesday night.The Berkshire Hathaway chairman and vice-chairman also commented on the meltdown of Archegos Capital, the current state of financial markets, the remote-working trend...