Born in 1924, Charlie Munger was raised during the Great Depression.
At the time of his death on Tuesday, his net worth was estimated at $2.6 billion.
But Munger’s greatest achievement wasn’t merely the scorecard of his net worth. His wit and wisdom, which Munger shared with the world through his book, Poor Charlie’s Almanack, which made him one of the most respected investors of the last century.
Munger is the man who taught Warren Buffet how to invest.
He’s lauded as the moral compass of Berkshire Hathaway, the company where he has served as vice chairman since 1984.
He’s the man who famously said, “In the short run, the market is a voting machine. But in the long run, it is a weighing machine.”
Munger and Buffet met each other in Omaha, their shared hometown, at a lunch at the local Omaha Club, where they were introduced by mutual friends. They instantly connected.
Buffet was an unknown at the time, but Munger saw his potential.
Munger’s wife once asked him, “Why are you paying so much attention to [Buffet]?,” and Munger replied, “You don’t understand. That is no ordinary human being.”
Their business partnership and friendship has lasted for more than 50 years, and Munger played a key role in many of Buffet’s investing decisions.
He passed away on November 28, 2023, at age 99.
In today’s First Friday bonus episode, we pay homage to the late investing legend Charlie Munger.