Comments by "Ton Bong" (@tongobong1) on "Charlie Munger thinks investing is harder than it used to be" video.

  1. I analysed PE of S&P over 130 years. Average PE of S&P index was just 13.5 from 1872 to 1991. From 1991 to 2021 it is 24.5. The average price increased by 81%. This is why it is so hard to find bargains with margin of safety today in American markets and also in most markets around the world.
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  2. I didn't see the smoke.
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  3.  @richierich7361  I agree with you on China. Alibaba looks cheap right now but its earnings are inflated by 50% or more so in reality is fairly priced if the growth will continue.
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  4. How much did you invest in Tesla?
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  5.  @ioelaurelius9475  Sometimes even Charlie and Buffett buy companies with 100 P/E or more if some company had a bad year with earnings close to zero for some nonrecurrent reason they still buy it because they know that earning power of that company is much larger than the last year earnings.
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