A generation of legend comes to an end...Munger passed away at the age of 99!
Berkshire Hathaway announced that Charlie Munger passed away peacefully in a California hospital on the morning of November 28, local time. Berkshire CEO and stock investor Buffett said in a statement: "Without Charlie's inspiration, wisdom and involvement, Berkshire would not be where it is today."
Munger was born on January 1, 1924, and died at the age of 99. It is a pity that he did not celebrate his 100th birthday. Munger is known as the "Walking Encyclopedia", "The Brain Trust behind the Scenes", and "The Last Secret Weapon".
Among the partners in the global investment circle, Munger and Buffett can be described as a magical combination, an absolute golden partner, and they have known each other for more than 60 years. Munger is 7 years older than Buffett. Both grew up in Omaha, Nebraska, the headquarters of Berkshire Hathaway. Munger has lived in Los Angeles for many years. He often speaks on the phone from Los Angeles to Buffett, who lives in Omaha. Even if they couldn't connect, Buffett said he knew what Munger would think.
In terms of political stance, although Munger supports the Republican Party and Buffett supports the Democratic Party, the two often have common opinions on many issues, including universal health care and the need for government supervision of the financial system. Buffett urged billionaires to devote themselves to philanthropy, and Munger also pointed out that private companies such as Costco have contributed more to society than big-name charitable foundations.
Buffett said publicly more than 20 years ago that it was great to have a partner who said bluntly, "You're not thinking clearly." Too many CEOs surround themselves with sycophants who are unwilling to challenge the CEO’s conclusions and biases. Munger said, "Buffett benefits from having someone around him who understands the industry and is willing to speak. I think I am very useful in this regard." "
While Munger has never matched Buffett's global popularity, he has had his own following. The 2011 annual meeting was the last meeting before Berkshire took full control of Wesco. Munger told his fans, "You need a new hero to worship."
