Charlie Munger said a financial adviser's contribution is to take $50,000 of an investor's net worth upfront.
"It’s amazing how hard people make what is a simple game, but of course if they told people what a simple game it is, 90% of the income of people speaking would disappear," he said, saying there was much that people could do themselves.
"I hate to use the example, but you can have monkeys throwing darts at the page, and, you know, take away the management fees and everything, I’ll bet on the monkeys," he added. Berkshire Hathaway Vice Chairman Charlie Munger then shared a joke in which a financial adviser asks for $50,000 of an investor’s net worth upfront, calling it the adviser’s "contribution to your future." Charlie Munger, vice chairman of Berkshire Hathaway Inc., speaks to members of the media during a shareholders shopping day ahead of the Berkshire Hathaway annual meeting in Omaha, Nebraska, U.S., on Friday, May 3, 2019.
Buffett himself is predicting a record-breaking crowd of more than 40,000, although Berkshire later put out a statement downplaying that number.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
At 91, Warren Buffett still sprints circles around Wall StreetAfter a two-year pandemic-induced haitus, the only shareholder meeting of its kind on the planet is back and could break its own stunning record. Tens of thousands from around the world will descend on Omaha, Nebraska--the birthplace of the 'Oracle of Omaha,' a.k.a. Warren Buffett.
Lire la suite »
Stocks rally on Wall Street as technology giants reboundMajor stock indexes on Wall Street notched their biggest gains in more than six weeks Thursday, as technology companies clawed back some of the ground they had recently lost.
Lire la suite »
Meta spreads cheer on Wall Street as Facebook adds more usersShares of Meta Platforms Inc rose 17% in a relief rally on Thursday after having lost nearly half their value this year, as the social media giant surprised Wall Street with a better-than-expected rise in users joining the platform.
Lire la suite »
Goldman Sachs offers first Bitcoin-backed loan as Wall Street embraces cryptoInstitutions are finding more ways to integrate Bitcoin. Goldman Sachs has offered its first Bitcoin-backed loan, showing further signs of increased interest in cryptocurrency from Wall Street institutions.
Lire la suite »
Meet The Jackie Robinson Of Wall StreetIn 1987, a little-known New York lawyer became a master of the universe when he led a takeover of Beatrice, creating the first Black-owned billion-dollar company.
Lire la suite »
First Alert Forecast: Wall-to-wall sunshine Saturday, temps climb into 60sFirst Alert Forecast: Winds are much calmer than the past couple of days, so it's a great day to be outdoors. Watch JohnElliottTV's forecast:
Lire la suite »