Charlie Munger, the billionaire vice-chairman of Berkshire Hathaway and the best friend and advisor to Warren Buffett for six decades, has passed away at the age of 99.
Munger was born in Omaha, Nebraska, in 1924. He studied mathematics at the University of Michigan and then enlisted in the U.S. Army Air Corps during World War II. After the war, he graduated from Harvard Law School and settled in Southern California.
In 1962, Munger founded his own law firm, Munger, Tolles & Olson. He also became a successful investor and established his own investment partnership in 1962.
In 1959, Munger first met Warren Buffett. The two men clicked immediately and quickly became inseparable. In 1975, Munger joined the board of directors of Berkshire Hathaway and became vice-chairman in 1990.
Munger was a brilliant investor and had a significant impact on Buffett's investment philosophy. He advocated for buying great companies at fair prices, rather than mediocre companies at bargain prices.
Munger was also a sharp critic of conventional wisdom. He advocated for diligence, equanimity, and thinking 'like a sane man with a broad knowledge of the world.'
Munger was a cult figure among investors, and his statements were often quoted. He was also a philanthropist and donated money to several charities.
Munger passed away at the age of 99 at his home in Los Angeles. He is remembered as one of the most influential investors and businessmen of the 20th and 21st centuries.
Here are some of Munger's key contributions to the world of investing:
He helped Warren Buffett develop his investment philosophy, based on buying great companies at fair prices.
He advocated for diligence, equanimity, and thinking 'like a sane man with a broad knowledge of the world.'
His statements were often quoted, and his thoughts influenced many investors.
Munger's death is a significant loss to the world of investing. He was a unique intellectual and an inspiring leader.