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Here's What Charlie Munger Just Said About SPACs

TheMotleyFool

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Here's What Charlie Munger Just Said About SPACs

Legendary investor and Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) vice chairman Charlie Munger is no fan of special purpose acquisition companies (SPACs), the hottest trend on Wall Street for bringing young companies public.

"The investment banking profession will sell s--- as long as s--- can be sold," the 97-year-old Munger said about SPACs, responding to a question at the Daily Journal Corporation (NASDAQ: DJCO) annual meeting in Los Angeles on Wednesday.

Image source: Getty Images.

Source Fool.com

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