Charlie Munger is an American business magnate and investor, who is best known for his role as Vice Chairman of Berkshire Hathaway, the multinational conglomerate holding company, led by Warren Buffett. He has been a vital part of the company’s success and is widely regarded as one of the greatest investors of all time.
Early Life and Career
Munger was born in Omaha, Nebraska, in 1924. After serving in the US Army Air Corps during World War II, he went on to study law at the University of Michigan. He later practiced law for a few years before turning to investment and eventually joined Berkshire Hathaway in the late 1960s.
Investment Philosophy
Munger’s investment philosophy is based on value investing, a discipline that emphasizes buying undervalued stocks and holding onto them for the long term. He is a firm believer in the power of compound interest and the importance of having patience in investing. Munger is also known for his straightforward and often humorous approach to investing and life, which he has shared in many speeches and interviews.
Contributions to Berkshire Hathaway
Since joining Berkshire Hathaway, Munger has been instrumental in the company’s success. He and Warren Buffett have a unique partnership, with Munger serving as a trusted advisor and sounding board for Buffett. Together, they have created one of the most successful investment portfolios in history, with Berkshire Hathaway’s stock price growing by over 20,000% since 1965.
Conclusion
Charlie Munger is a true legend in the investment world, and his contributions to Berkshire Hathaway and the broader field of investing are immeasurable. He is a great example of the power of value investing, and his wisdom and wit have made him a beloved figure among investors and non-investors alike.