Charlie Munger: Finfluencers 'mislead you on purpose' — This is how the late billionaire recommends you build wealth

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Warren Buffett’s longtime business partner, the late Charlie Munger, had a reputation for being blunt when speaking with shareholders.

Whether he was talking about building wealth or expressing skepticism about cryptocurrency, Munger would often speak candidly.

During a 2019 shareholder meeting for his company, Daily Journal, Munger shared some choice words about day-trading influencers (1). In short, he wasn’t a fan of social media gurus teaching inexperienced investors how to trade stocks.

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“If you take the modern world where people are trying to teach you how to come in and trade actively in stocks, well, I regard that as roughly equivalent to trying to induce a bunch of young people to start off on heroin,” he said. “It is really stupid.”