Oracle of Omaha’s right-hand man shaped the investing philosophy behind the conglomerate’s rise.
• Charlie Munger, Warren Buffett’s right-hand man at Berkshire Hathaway, died at 99.
• His wit and wisdom shaped the conglomerate’s investment strategy for decades.
• He leaves a legacy as an indispensable investing legend.
Passed away at the age of 99
Charlie Munger, vice chairman of Warren Buffett’s Berkshire Hathaway and close confidant to the billionaire investor, passed away Tuesday at age 99.
Munger built a staggering net worth of $2.3 billion while helping guide Berkshire’s investment strategy for decades.
Dubbed ‘Oracle of Omaha’ like his partner Buffett, Munger had a sharp wit and keen insights about markets, business and life. He cautioned against following fads, saying smart people “do very dumb things” and investors should pick companies “any fool can run.”
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Munger on Cryptocurrencies
Munger long warned cryptocurrencies were worthless and recently felt artificial intelligence stock hype would disappoint.
But he remained bullish on Apple, Alphabet, and other tech titans for most of his life, arguing investors need “significant participation” in elite performers.
The California native was chairman of Berkshire subsidiary Wesco Financial from 1984 to 2011 and possessed encyclopedic knowledge across disciplines.
Buffett called Munger “indispensable” in transforming Berkshire into one of America’s largest conglomerates.
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A Pure Legend
In addition to his vice chairmanship, Munger served on boards of giants like Costco, US Bancorp and Chinese e-commerce titan Alibaba.
Costco co-founder Jeff Brotman credited Munger with bringing “intellectual vitality” and “steadfast allegiance to doing the right thing” to the company as a two-decade board member.
His unique worldview made Munger one of the most compelling figures in finance, and his annual meeting musings created almost a cult-like following.
An unmatched legacy of wit
Generations of investors have applied his insights on overcoming bias, assessing value versus price and ignoring the herd in their decisions.
“Charlie has taught me that when you combine a brilliant talent with unshakeable honesty, good things must happen,” remarked Chaim Katzman, longtime friend and chairman of luxury residential firm Gazit Globe.
The investing oracle leaves an unmatched legacy of wit, wisdom and wealth creation.
