Charles Thomas “Charlie” Munger (January 1, 1924 – November 28, 2023) was an American businessman, investor, and philanthropist. He was the vice chairman of Berkshire Hathaway, the conglomerate controlled by Warren Buffett, who described Munger as his closest partner and right-hand man. Munger was also the chairman of Daily Journal Corporation, a publisher of legal newspapers.
Munger was born in Omaha, Nebraska, and graduated from the University of Michigan in 1946. He earned his law degree from Harvard Law School in 1948. After law school, Munger worked as a lawyer in Los Angeles, before moving to Pasadena, California, in 1956. In 1962, he founded Wesco Financial Corporation, an investment holding company.
Munger met Buffett in 1959, and the two men quickly became friends and business partners. Munger joined the board of directors of Berkshire Hathaway in 1984, and he became vice chairman in 1993. As a member of Berkshire’s board, Munger played a key role in the company’s investment strategy and helped to shape its corporate culture.
Munger was a strong advocate for value investing, a philosophy that emphasizes investing in companies that are trading at a discount to their intrinsic value. He was also a proponent of the concept of multiple mental models, which suggests that investors should use a variety of perspectives to analyze complex problems.
Munger was a prolific writer and speaker, and he was known for his wit and wisdom. He was also a generous philanthropist, and he donated billions of dollars to various causes, including education, healthcare, and the environment.
Munger died on November 28, 2023, at the age of 99. He is survived by his wife, Nancy Huggins, and five children.
Munger was a towering figure in the world of investing, and he is widely considered to be one of the greatest investors of all time. He was also a wise and insightful thinker, and his words of wisdom continue to inspire and guide investors around the world.
Here are some of Munger’s most famous quotes:
- “The best thing a person can do in life is to continuously become a better person.”
- “It is remarkable how much long-term advantage people like us have gotten by trying to be intelligent and doing it deliberately.”
- “Invert, always invert – turn a problem inside out and try to look at it in reverse. It works a surprising amount of the time.”
- “I think you should get your wisdom early in life and then spend the rest of your life compounding it.”
Munger’s legacy will live on for many years to come. He was a true original, and he will be dearly missed.
