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Charlie Munger, vice chairman of Berkshire Hathaway Inc arrives at the...

Charlie Munger targets active managers, Elon Musk; praises China

Charlie Munger, the longtime business partner of Warren Buffett at Berkshire Hathaway Inc, on Thursday criticized active fund managers, bankers and even Elon Musk as he urged investors to court simplicity and temper expectations for future returns.Munger, 95, often provoked laughter as he fielded questions at the annual meeting of Daily Journal Corp, the Los Angeles newspaper publishing company he chairs, though he is better known for his four decades as a Berkshire vice chairman.

FILE PHOTO: The President and CEO of Ford Motor Company Hackett poses with...

Exclusive: Volkswagen, Ford far apart on investment in Ford autonomous unit - sources

Partners Volkswagen AG and Ford Motor Co are at odds over how much the German automaker will invest in the No. 2 U.S. automaker's self-driving vehicle unit, with Ford seeking at least $500 million (389 million pounds), people familiar with the negotiations said. Analysts and investors have focused on the potential savings their alliance could generate, so any sign of problems in the negotiations is not welcome news.

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