Charlie Munger touts Apple and Alibaba, slams Bitcoin at Daily Journal annual meeting

Feb. 16, 2022 3:40 PM ETApple Inc. (AAPL), BABAGOOG, MSFT, GME, BRK.A, DJCOBy: Rex Crum, SA News Editor253 Comments

Japan, Tokyo, Ginza, Apple Store,

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Investor Charlie Munger, is best-known as the No. 2 man at Warren Buffett's Berkshire Hathaway (NYSE:BRK.A). But, Munger is a noted investor in his own right, as he serves as chairman and manager of Daily Journal's investment arm.

And, it was at Daily Journal's (NASDAQ:DJCO) annual meeting, Wednesday, where Munger voiced his thoughts about a handful of trends and companies in the tech sector, in particular.

Among the topics Munger addressed were Apple (NASDAQ:AAPL), Microsoft (NASDAQ:MSFT) and Alphabet (NASDAQ:GOOG), which he said he expected to remain strong companies even 50 years from now.

GameStop (NYSE:GME) also received some commentary from Munger, who called the recent short squeeze in the videogame retailer's stock an example of "wretched excess." Munger had similar feeling about cryptocurrencies, in general, calling Bitcoin (BTC-USD), in particular "rat poison".

Munger also said he was more comfortable about investing in China than his Berkshire (BRK.A) partner, Buffett, and that he didn't mind holding some margin debt in Chinese Internet and e-commerce giant Alibaba (NYSE:BABA). Munger said that Chinese companies are stronger in relation to their competitors, and are also cheaper than their U.S. counterparts.

In January, Munger boosted his stake in Alibaba (BABA) by buying 300,000 more shares of the company's stock.

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