Charlie Munger Wants To Steer Clear Of Auto Industry After Investment In Tesla's Chinese Rival BYD: 'They Make Me Nervous, It's So Aggressive'
Portfolio Pulse from Benzinga Neuro
Charlie Munger, vice-chairman of Berkshire Hathaway, expressed concerns about the aggressive nature of the auto industry, particularly with the rise of electric vehicles. He mentioned his investment in BYD, a Chinese battery maker and major player in the EV market, which he persuaded Warren Buffett to acquire a 9.9% stake in 2008. Despite his admiration for BYD and its CEO, Munger admitted the company's aggressive strategies make him nervous.
November 02, 2023 | 4:41 am
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Berkshire Hathaway's investment in BYD, influenced by Charlie Munger, has grown 35-fold since 2008. However, Munger's expressed nervousness about the aggressive nature of the auto industry could potentially impact investor sentiment.
Charlie Munger's comments about the auto industry and BYD, in which Berkshire Hathaway has a significant investment, could influence investor sentiment. However, it's unclear whether this will have a negative or positive impact on Berkshire Hathaway's stock in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Charlie Munger expressed both admiration and concern for BYD, a company in which he influenced Berkshire Hathaway to invest. His comments about the company's aggressive strategies could potentially impact investor sentiment.
Charlie Munger's comments about BYD's aggressive strategies could influence investor sentiment. However, it's unclear whether this will have a negative or positive impact on BYD's stock in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 90