Charlie Munger warns there are 'lots of troubles coming' because of 'too much wretched excess'
Charles Munger David A. Grogan | CNBCCharlie Munger, vice chairman of Berkshire Hathaway and Warren Buffett's longtime business partner, issued a dire warning about the future on Wednesday. "I think there are lots of troubles coming," he said at the Los Angeles-based Daily Journal annual shareholders meeting. "There's too much wretched excess." Munger who chairs the publisher highlighted how much risk investors are taking when investing, particularly in China. 'Bulls--- earnings'To make his point about excess, Munger cited the proliferation of EBITDA as a fake profit metric.cnbc.com