“Never underestimate the man who overestimates himself. I think Elon Musk is peculiar and he may overestimate himself, but he may not be wrong all the time,' Charlie Munger said. (via CNBCMakeIt)
on Wednesday, a shareholder asked Berkshire Hathaway vice chairman Munger what he thought about Musk, based on Tesla's recent ups and downs.
"My thoughts are two," Munger, who serves as the Journal's chairman replied. "I would never buy [Tesla], and I would never sell it short," he said, referring to a technique investors use to bet that a stock will decline. And "I have a third comment," the billionaire investor continued: "Never underestimate the man who overestimates himself. I think Elon Musk is peculiar and he may overestimate himself, but he may not be wrong all the time."
At the Daily Journal's 2019 shareholder meeting, Munger shared similar thoughts, but also said that he personally"I want the guy who understands his limitations instead of the guy who doesn't," Munger said at the time. "On the other hand, I've learned something terribly important in life…. These weird guys who overestimate themselves occasionally knock it right out of the park.
"I don't want my personal life to be [around] a bunch of guys who are living in a state of delusion, who happen occasionally to win big. I want the prudent person," Munger explained.Warren Buffett, Berkshire Hathaway chairman and Munger's longtime business partner, has also given his opinion on Musk.in May 2018. It's "not easy" to do that, Buffett said. "The American public will decide whether [Tesla's electric cars are] a success.
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