Collection: Charlie Munger - #109 'Next 10 Years The Returns In The Equity Markets'


Video Link: https://youtu.be/AJjRUb2UGL8


In this episode, Charlie Munger was asked does he expect the next 10 years to have lower returns in the equity markets than the last 10?


In this episode, you’ll learn:

  • Charlie Munger on the returns in the equity markets in the next 10 years (2030).

  • Why Charlie Munger thinks the return in the equity market will be lower in the next 10 years?

To check out all Collection: Charlie Munger <click here>

[Transcript]

(Source: https://youtu.be/WaDU1J91hY8)

INTERVIEWER 00:00

So my next set of questions are more on the finance side. Paul Goodson, who is a bachelor’s degree of science in 1975, asks, “Do you expect the next 10 years to have lower returns in the equity markets than the last 10?” He doesn’t give us an idea why.


CHARLIE MUNGER 00:16

The answer is yes.


INTERVIEWER 00:17

Could you give us a hint as to why that might come to pass?


CHARLIE MUNGER 00:21

Yes. Because so many people are in it and the frenzy is so great. The systems of management, the reward systems, are so foolish that I don’t think it’s going to work at all. I think that the returns will go down, yes. In real terms, the returns will be lower.

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