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Berkshire's Charlie Munger On Wells Fargo's Mistake | CNBC

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The "Closing Bell" news desk discusses comments from Charlie Munger of Berkshire Hathaway. » Subscribe to CNBC: http://cnb.cx/SubscribeCNBC About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Connect with CNBC News Online Get the latest news: http://www.cnbc.com/ Find CNBC News on Facebook: http://cnb.cx/LikeCNBC Follow CNBC News on Twitter: http://cnb.cx/FollowCNBC Follow CNBC News on Google+: http://cnb.cx/PlusCNBC Follow CNBC News on Instagram: http://cnb.cx/InstagramCNBC Berkshire's Charlie Munger On Wells Fargo's Mistake | CNBC
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Text Comments (19)
sjefjaap (4 months ago)
What Mr. Munger means is that the stocks are just not as cheap anymore than say 40-50 years ago.
oceannavagator (4 months ago)
A MISTAKE?.............. How about fraud, theft, criminal manipulation?
Chandra Singh (4 months ago)
Fiat ..banks is the rat in our system..more money laundering than ..
ShortTheWorld now (4 months ago)
Wells fargo= good, even though the banks have caused the past recessions Bitcoin=bad because of 10,000%+ increase, giving people profits
Truth (4 months ago)
Nice straw man. And your wrong about Wells Fargo being a part of the recession. Wells Fargo was the only US Bank that wasn't a part of selling sub-prime mortgages and other toxic loans to the people. And as far as bitcoin is concerned it is worthless, the only thing useful about it is the Blockchain concept which can be tailored and dressed differently; for example look at Ethereum or Ripple or any other Cryptocurrency. The only thing making Bitcoin go up *IS* speculation, banks can simply take the concept of Blockchain and use it as Utility Tokens for many different services that they already provide, such as a transfer Token between currencies. Let go of your Bias and be intellectually honest.
Daniele Sbordone (4 months ago)
Hey Charie , Wells Fargo just made a little mistake and Bitcoin is the real fraud. OK , whatever you say. You're the expert with the billions.
David (4 months ago)
Buffett quote on what he tells his managers "don't do anything in business today, that you wouldn't be comfortable with tomorrow, being on the front page of the news paper". Guess Wells Fargo wasn't listening.
Detroit Jack (7 months ago)
Sorry Charlie . . . do have a stake to protect? You're a frickin' numb blood thirsty dinosaur . . . , and I OWN WF!
H Robin (7 months ago)
How can anyone still want to bank with WF? No justice.
ConBroCal (7 months ago)
Wells Fargo fraud = A-okay, actually a good thing Bitcoin = not okay, toxic No irony here at all, folks
BizSpot (4 months ago)
Bitcoin valuation = not okay. One person buys with the hopes that another person will buy for a higher price from them. That represents a large portion of the people buying bitcoin, as opposed to using it as a currency.
Jack Black (7 months ago)
Give him tissue please!!!
a64750 (7 months ago)
Wells was the only bank that wasn't involved in mortgage fraud
Victorious Yankee (4 months ago)
Because they were too busy defrauding their depositors.
1Drummer (7 months ago)
If you closed your eyes you’d think that was Warren Buffet speaking.
We3K1ngs (7 months ago)
So true was thinking the same thing, could you imagine those two in conversation after a nice bourbon, LOL
Judy A (7 months ago)
He's just protecting Berkshire's investment. With millions invested in Wells Fargo, did you really expect him to say anything else? You people need to offer up impartial information for your viewers. We know what a sales job looks like. I lost respect for your 'opinions' a long time ago.
Pac Man (7 months ago)
What did Wells Fargo do ?
Judy A (7 months ago)
Pac Man Seriously? Google it. Wells Fargo defrauded thousands of customers. Then, instead of holding management accountable, they gave them bonuses and fired all the hard working lower level people who were being forced to make unattainable sales numbers. I took all my money out of their so-called bank and went to a smaller credit union. Wells Fargo should be broken up, the parts sold and all management fired without golden parachutes, bonuses or severance packages.