Charlie Munger, who helped Warren Buffett build Berkshire Hathaway, died at a California hospital on Tuesday. He was 99. His death was confirmed in a statement from the company. “Berkshire Hathaway could not have been built to its present status without Charlie’s inspiration, wisdom, and participation,” Buffett, Berkshire's 93-year-old chairman and chief executive, said in a statement.
Alongside Warren Buffett, Charlie Munger was respected by investors around the world. Though Munger was not involved in Berkshire's day-to-day operations, his death leaves a void for Buffett who is left without his longtime trusted confidante.
1) Warren Buffett Buffett credited ace investor Munger with teaching him Berkshire’s key investing philosophy.
2)“I could give you other personal examples of "bargain-purchase" folly but I'm sure you get the picture: It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price. Charlie understood this early; I was a slow learner. But now, when buying companies or common stocks, we look for first-class businesses accompanied by first-class managements," Buffett to Berkshire shareholders in a 1989 annual letter.
3) Buffett said in his 2000 annual letter to investors: “Charlie thinks about business economics and investment matters better than anyone I know, and I’ve learned a lot over the years by listening to him.”
4) “Charlie has taught me a lot about valuing businesses and about human nature,” Buffett said in 2008.
5)“I try to look out ten or twenty years when making an acquisition, but sometimes my eyesight has been poor. Charlie’s has been better; he voted no more than ‘present’ on several of my errant purchases," Buffett on his investing partner Charlie Munger in a 2011 annual letter
6) In an interview with CNBC in 2021, legendary investor Buffett said “I knew after I met Charlie, after a few minutes in the restaurant, I knew that this guy’s going to be in my life forever. [I knew] we were gonna have fun together, we were gonna make money together, we were gonna get ideas from each other [and] we were both going to behave better than if we didn’t know each other."
7) Buffett said in his 2023 annual letter to investors: “Charlie and I think pretty much alike. But what it takes me a page to explain, he sums up in a sentence.”
Catch all the Business News , Corporate news , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.