Charlie Munger, the longtime business partner of Warren Buffett, on Wednesday suggested the stock market environment bears signs of a bubble, reflecting a "dangerous" mentality among some investors to gamble on stocks as they would horse races. Munger, 97, was speaking at the annual meeting of Daily Journal Corp, the Los Angeles newspaper publishing company he chairs. The Daily Journal meeting was webcast on Yahoo Finance. Munger also addressed other topics, including the surging interest in bitcoin, which he would not own. "I don't think bitcoin is going to end up as the medium of exchange for the world" because it's too volatile, Munger said.

Source: Mint February 24, 2021 19:30 UTC