The Latest Breaking News from Charlie Munger

“I don’t think they have a great product," Musk said of BYD in 2011, adding it wasn't a Tesla competitor in his mind.

Markets reflect the economic and geopolitical landscapes, and while China’s economy may be recovering, tensions between Washington, DC, and Beijing have caused investors to shun Chinese stocks. The FXI is an ETF product that holds Chinese large-cap stocks that trade on the U.S. and international equity exchanges.

Many investors worry about the future of Berkshire Hathaway after its legendary CEO Warren Buffett is gone, but most of the conglomerate's companies have already made the transition to reporting to the man who will eventually replace the 92-year-old

The 92-year-old billionaire Berkshire Hathaway CEO is personally familiar with the problem. His own father lost his job because of a bank run in 1931.