Charlie Munger Who Was He?

Charlie Munger was known as much for his word of advice to younger investors as he was for his business acumen. He was an investing genius and Warren Buffet's right-hand man died at age 99. One of the greatest minds in investing. Charlie is known as the sidekick, a fiercely independent intellectual and partner to Warren Buffet. Billionaire Munger believes that "You make your money by the waiting". He was known for his quick wit. After donating, his current net worth was around $2.6bn.

"It is so simple to spend less than you earn, and invest shrewdly, and avoid toxic people and toxic activities, and try and keep learning all your life, and do a lot of deferred gratification," he said at Berkshire Hathaway annual shareholder meeting.

If you're reading this article, you're probably interested in stocks.

11 Learnings From Munger

"Live within your income and save that you can invest. Learn what you need to learn"

"I avoided the standard ways of failing because my game in life was always to avoid all standard ways of failing"

"Buy Wonderful Business at Fair Prices"

"People confuse perfection with performance"

"I could not understand why venture capital firms put caps on what an executive could do. I think people are always growing. I would help someone grow from an engineer, to a sales engineer, to chief revenue officer. I wanted to develop people who were willing to grow, learn, and seek mentors -- to always be learning,"

"Great Opportunites Are Rare"

"Compound interest is the eighth wonder of the world; never interrupt it unnecessarily"

"Good Business Are Ethical Business"

"A lot of people think that if they have a hundred stocks they're investing more professionally than they are if they have if they four or five. I regard this as insanity."

"Great brand companies, of course, are good. Getting the right price. The whole trick is getting them on a few rare occasions when they’re really cheap.”

If you don't learn to constantly revise your earlier conclusions, and get better ones...you're like a one-legged man in an ass-kicking contest

He will be greatly missed by many, perhaps by nobody more than Mr. Buffet, who relied heavily on his wisdom. Munger's life set an example of "how to think clearly, deal fairly, and live fully. He took nothing for granted".

Investing in startups presents an opportunity for investors to find great companies at low prices. It resonates with Ben Graham’s philosophy of seeking undervalued opportunities. Startups often embody this potential, as they may offer growth prospects at initial stages when their market value is not yet fully recognized.

At the time of his death, Munger served on Berkshire's board as well as the boards of newspaper publisher Daily Journal Corp. and retailer Costco. Like Buffett, he was known as a pragmatic investor and an active philanthropist who lived relatively frugally and gave millions to universities.

Billionaire Charlie Munger, the investing sage who made a fortune even before he became Warren Buffett’s right-hand man at Berkshire Hathaway, has died at age 99.

Munger died Tuesday, according to a press release from Berkshire Hathaway. The conglomerate said it was advised by members of Munger’s family that he peacefully died this morning at a California hospital. He would have turned 100 on New Year’s Day.

While his physical health was clearly diminished, he was as mentally sharp and with it as ever—holding court at a small table and regaling a group of entranced listeners with stories, humor, and wit.

Charlie Munger was a treasure trove of wisdom—which he shared lavishly with the world over the course of his life, and which will create lasting ripples long after he is gone.

Together with Warren Buffet, they built Berkshire into a $500 billion-plus juggernaut whose original shares posted annual gains averaging 21.6 percent between 1965 and 2014, more than twice the 9.9 percent rise for the Standard & Poor’s 500.