巴菲特副手支持拆分大银行

    不过，芒格也表示，他相信加强监管能提高银行的利润。如果退出高风险业务，在市场不好的年份中银行的牛年利润缩水的幅度也会小一些。但如果这是事实，芒格作为伯克希尔股东代理人不是有责任来推进这项变革吗？如果变革能提高银行的利润，伯克希尔的投资者据推测也会获得更多盈利，我认为答案是肯定的。

    在上周六伯克希尔的年度股东大会上，巴菲特表示，他认为大银行比几年前更安全了。但伯克希尔不持有衍生品业务比重高的摩根大通股票。高盛（Goldman Sachs）拥有衍生品业务，但它的传统银行存款业务比重很小。伯克希尔持有的大银行中违反芒格标准的银行只有美国银行一家。

    “你问我的问题是，我能给美国经济开什么药方，”芒格说。“显然，这个药方跟给大银行家开的药方不同。”（财富中文网）

    But Munger also said he thought more regulations could make banks more profitable. By getting out of risky businesses, banks may end up giving back much less of their bull market gains in the down years. But if that's true, then isn't Munger's fiduciary responsibility to Berkshire shareholders to push for change? If the change would make the banks more profitable, and presumably Berkshire's investors more money, I think the answer is yes.

    On Saturday at Berkshire's annual meeting, Buffett said he thought the big banks were safer than they have been in years. But Berkshire doesn't own derivative-heavy JPMorgan. Goldman Sachs (GS) has a derivatives business, but it has relatively few traditional bank deposits. The only Berkshire holding that seems to significantly break the Munger rule is Bank of America.

    "You are asking me questions about my prescription for the country," says Munger. "Well that would obviously be different from the prescription of our leading bankers."