So Long Mr. Munger: A Life Well Spent

Charlie Munger dies peacefully at 99. His death marks the end of an era for the financial world.

He was more than Warren Buffett‘s right-hand man; he was an essential force in propelling Berkshire Hathaway to phenomenal success over nearly six decades.

Munger played a pivotal role in transforming Berkshire Hathaway from a struggling textile firm into a colossal $800 billion conglomerate, branching out into diverse investments spanning oil and gas, insurance, and railroads.

His impact on the company’s trajectory cannot be overstated.

The announcement of Munger’s passing came via a press release from Berkshire, stating that Charlie Munger passed away peacefully surrounded by his family in a California hospital.

Warren Buffett, in a heartfelt statement, acknowledged Munger’s profound influence on Berkshire Hathaway: “Berkshire Hathaway could not have been built to its present status without Charlie’s inspiration, wisdom, and participation.”

Educated at Harvard Law School, Munger initially operated his own value investing firm before assuming the role of Vice Chairman at Berkshire.

Buffett himself credited Munger for steering away from the “cigar-butt” approach to value investing in a 1989 shareholder letter.

One of Munger’s notable contributions was the acquisition of See’s Candies Inc. in 1972, which laid the groundwork for Berkshire’s investment strategy centered on an economic moat.

This strategy served as a blueprint for subsequent purchases, including Coca-Cola fifteen years later, and more recently, Apple.

Under Munger’s guidance, Berkshire Hathaway achieved an impressive average annual gain of 20.1% from 1965 through 2021, nearly doubling the gains of the S&P 500 Index during that period.

His legacy as an astute investor and influential figure in the financial realm will endure for generations to come.

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Spend each day trying to be a little wiser than you were when you woke up.

— Charlie Munger
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Hey — It’s Pavlos. Just another human sharing my thoughts on all things money. Nothing more, nothing less.