Notes today:

Warren Buffett regrets Apple stock sales — "probably a mistake".

Mega-cap tech stock valuations are not "crazy," Buffett said, if Treasury rates are supposed to be this low (and that is one big “if”). (SEE Fed Model)

He described index funds as the best answer for most investors, calling SPAC’s a killer.

Munger let it rip on Bitcoin: ‘Of course, I hate the bitcoin success and I don’t welcome a currency that’s useful to kidnappers and extortionists, and so forth. Nor do I like just shoveling out a few extra billions and billions of dollars to somebody who just invented a new financial product out of thin air. So I think I should say modestly that I think the whole damn development is disgusting and contrary to the interests of civilization. And I’ll leave the criticism to others.’  👍👍

• And Elon, while attempting to sell a clean electric vehicle is simultaneously encouraging the mining of Bitcoin. 
• The most recent update suggests some mind-boggling statistics – Bitcoin now consumes 121.36 terawatt-hours worth of electricity every single year, a number that is now higher than Argentina’s energy consumption and hot on the heels of Norway. When Bitcoin is classed as a country, it ranks 30th in the world, consuming almost 0.5% of the world’s energy production.