Charlie Munger says buying crypto is investing in nothing — and he avoids it like a dirty sewer

In a recent interview, Charlie Munger criticized Cryptocurrencies. He said the digital coins were worthless, urged people to avoid them, and compared the industry to a dirty pool.

Munger told the Australian Financial Review that he didn't think it was an investment in anything. I don't think buying this stuff or trading in it is a good idea.

It isn't a compelling reason to own something if it's hard to make more of it. He said that stocks are a better investment because they represent real businesses and claim to make money.

Munger swore off buyingcryptocurrencies because they undermine the monetary system.

He thinks anyone that sells this stuff is either delusional or evil. I don't want to undermine the world's national currency.

A damning indictment was issued during the interview by the business partner of Warren Buffet.

He said he avoids it as if it were an open sewer. Everybody else should follow my example.

A wave of layoffs, record withdrawals, and bankruptcies have been caused by the plunge in the price of popular coins.

Rising prices, stock moves, and fossil fuels

Munger weighed in on a number of market issues. He said that he mostly ignores macroeconomic trends, pays little attention to what commentators say, and focuses on investing his capital as best he can.

He said that people who are blabbering on television don't think like he does.

Inflation is a recurring issue that the billionaire investor has dealt with many times before, and he thinks it will make all of the world's currency worthless. He said that's his basic cynicism.

Munger shrugged off the recent slump in stocks as normal, but noted that rising interest rates are likely to have a negative impact on stock prices.

The world will continue to use fossil fuels for a long time, according to the right-hand man. Clean-energy sources would play a bigger role in power generation. He said that both things would happen.

According to the manager of a market-beating $500 million fund, predicted cash-flow is the most important factor. He names six companies that fit the bill and lays out what investors should look for in a stock.