Charles Munger (left) and Warren Buffet at the launch ceremony of Chinese electric vehicle BYD M6 and a clean energy project. Photo: AFP

Speaking at the Berkshire Hathaway annual meeting, Charlie Munger said he thinks “a shrewd person can find more bargain stocks in China than he can find in the United States.” But, he added, “I didn’t say it was easy.”

Munger suggested the average investor wouldn’t have the opportunities to invest in private entities backing projects such as Shanghai’s major airport – the types of investments that have contributed so much to Munger and Warren Buffet’s success.

For Buffet’s part, he spent a great deal of time at the meeting arguing that low-cost index funds are the best option for most investors.