Charlie Munger: A Finance Titan’s Journey | Dive In Now! 👀

Warren Buffett’s lifelong friend and business partner, Charlie Munger, died on
Tuesday. He had reached the age of 99. Munger played the role of vice
chairman of Berkshire Hathaway for decades while assisting Buffett in building
the company into an investment powerhouse. Charles Thomas Munger, better
known as Charlie Munger, was an American investor, businessman, and
philanthropist. He was born in Omaha, Nebraska on January 1, 1924. Munger
and Buffett’s cooperation was frequently lauded for its success and longevity.
Following Charlie Munger’s death, Berkshire Hathaway CEO Warren Buffett
stated that the company’s current status owed much to Charlie’s “inspiration,
wisdom, and active involvement.” Apple CEO Tim Cook described Munger as a
“Business titan” and clever observer of the globe.

According to the Associated Press, he preferred to remain in the background
and allow Buffett to be the face of Berkshire, frequently downplaying his
contributions to the company’s phenomenal growth. Munger’s death was
confirmed by the company via an announcement, which stated he died Tuesday
in a California hospital. His loss was deeply regretted by business titans,
including his buddy of over 60 years who is called Warren Buffett.
Charlie Munger was born and raised in Omaha during the Great Depression.
His early life was ruled by financial difficulties, and he handled a variety of
occupations to support himself. Munger succeeded in school from a young age.
He studied mathematics at the University of Michigan. After serving as a
meteorologist in the United States Army Air Corps during WWII, he attended
Harvard Law School and earned his JD magna cum laude in 1948.
Munger began his career as a lawyer in Los Angeles, where he was successful.
His legal career established the foundation for his future business endeavors.
Munger established a private investing firm in 1962 and built a reputation as a
savvy investor over the years. His investment style emphasized the acquisition
of high-quality companies at reasonable costs and the long-term ownership of
those companies.
Munger came across paths with Warren Buffett in the early 1960s. They first
collaborated on numerous businesses before combining their investment
partnerships to become Berkshire Hathaway in 1978. Munger was appointed
Vice Chairman of the corporation. Munger was instrumental in Berkshire
Hathaway’s success.
His collaboration with Buffett was highlighted by a shared investing philosophy
centered on intrinsic value, economic moats, and long-term holding. Munger
gained a reputation for his frank and intelligent remarks on business and
investing, and he frequently presented an alternative perspective to Buffett’s
approach.
Berkshire Hathaway invested in the Chinese automaker BYD due to Munger’s
passion for engineering. Despite this initial interest, Berkshire Hathaway has
gradually reduced its position in BYD, with the most recent sale taking place on
October 25, lowering the company’s shares to 7.98% from 8.05%.Munger’s
death comes on the backbone of Warren Buffett’s generous deed, in which he
contributed $866 million in Berkshire stock, indicating a possible change after a
remarkable career spanning over six decades.
Buffett and Munger’s friendship predates Buffett’s acquisition of Berkshire
Hathaway, with Buffett playing a key role in launching Munger’s financial
career.
Munger was well-known for his vocal disapproval of cryptocurrencies, along
with his contributions to finance. He claimed that governments made a major
mistake by allowing the spread of cryptocurrencies, calling them “worthless”
and comparing them to a venereal illness that would only cause pain.
Munger commented forcefully in an interview with CNBC earlier this year, “It
is ridiculous that anyone would choose to invest in cryptocurrencies.” In
reflecting on a life well-spent, Munger stated, “I think a life properly lived is
just learn, learn, learn all the time” establishing a legacy of ongoing learning
and critical analysis