Berkshire Hathaway Chairman and CEO Warren Buffett cares extra concerning the agency’s welfare than he does his personal cash, Berkshire Vice Chairman Charlie Munger stated this week following a information report that raised questions concerning the legendary investor’s private trades.
Munger defended Buffett in an interview earlier this week with CNBC, which aired a clip Thursday on its “Squawk Field” program.
CNBC journalist Rebecca Fast stated Munger had not learn the ProPublica article about Buffett’s private inventory trades when she interviewed him. She famous she hadn’t confirmed the report’s particulars nor spoken with Buffett about them.
“I don’t suppose there’s the slightest likelihood that Warren Buffett is doing one thing that’s deeply evil to earn cash for himself. He cares extra about what occurs at Berkshire than he cares about what occurs along with his personal cash, he’s given his personal cash away,” Munger stated.
“He doesn’t even have it anymore. And displaying how little he thinks of it, he gave away the final $100 million he has on Earth, and having finished that, they are saying ‘the soiled son-of-a-bitch is profiting from Berkshire to earn cash,’” he stated. “It’s not a believable argument. It’s another ridiculous factor that’s stated about Berkshire.”
ProPublica reported final week that leaked Inner Income Service information present Buffett, at the least 3 times over almost 20 years, traded shares in his personal portfolio in the identical quarter or one quarter earlier than Berkshire traded these corporations’ shares — and earlier than the corporate disclosed its gross sales or purchases to the general public.