Berkshire Hathaway Vice Chairman Charlie Munger said that Berkshire stock is a 'pretty damn good bet' and that it's unlikely the company will be broken up for 'a long, long time.'

Speaking at the annual meeting of the Daily Journal (ticker: DJCO), Munger, the company's chairman, said that 'With all factors considered and with Berkshire buying in its shares when they are reasonably priced, Berkshire is a pretty damn good bet for shareholders to hold for the long term in the future'it works pretty damn well.'

Munger also said: 'Berkshire won't be as good as it was in the past, but will be OK considering how poorly everything else is going to do.' The Daily Journal 's annual meeting is being live-streamed on CNBC on Wednesday afternoon.

Asked by CNBC anchor Becky Quick why other investments will fare poorly, Munger said: 'Because valuations are starting higher and government is so hostile to business.'

marketwatch.com - Berkshires munger stock good bet wont break up