Warren Buffett’s right-hand man flagged a “speculative frenzy” in the stock market and signaled that he doesn’t expect share prices to climb much higher.
Charlie Munger, the vice chairman of Buffett’s Berkshire Hathaway conglomerate, is also the chairman of Daily Journal Corporation, a newspaper publisher and software developer.
Daily Journal’s stock price hit a record high of $404 on December 31. It had surged by roughly 50% in the previous four weeks.
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