Charlie Munger dead at 99 | Forexlive

One of the all-time great investors has died.

Berkshire Hathaway reports that Charlie Munger died today at 99, just over a month shy of his 100th birthday.

Munger is best known for his role as the vice chairman of Berkshire Hathaway and his close partnership with Warren Buffett. He was a true legend in the world of finance and investing.

Born in Omaha, Nebraska, in 1924, Munger was gifted with an insatiable curiosity and a sharp intellect. His contributions to the investment world are unparalleled, and his wisdom has been a guiding light for investors globally.

Munger’s investing principles, often delivered with his trademark wit and clarity, have become axioms in their own right. Among his most famous are:

• “Compound interest is the eighth wonder of the world.”

• “Never invest in a business you cannot understand.” T

• “The big money is not in the buying and selling, but in the waiting.”

• “It’s not necessary to do extraordinary things to get extraordinary results.”

• “Knowing what you don’t know is more useful than being brilliant.”

• “No wise pilot, no matter how great his talent and experience, fails to use his checklist.”

• “The best thing a human being can do is to help another human being know more.”

As we bid farewell to Charlie Munger, we remember a man whose life was a testament to the power of knowledge, patience, and integrity. His teachings will continue to inspire and guide future generations of investors and business leaders.

A statement from Berkshire Hathaway was released saying:

Berkshire Hathaway a few minutes ago was advised by members of Charlie Munger’s family
that he peacefully died this morning at a California hospital.

Warren Buffett, CEO of Berkshire Hathaway, wishes to say: “Berkshire Hathaway could not
have been built to its present status without Charlie’s inspiration, wisdom and participation.”

The family will handle all affairs pursuant to Charlie’s instructions.

In 2019, Warren Buffett talked about how Munger changed his investing philosophy:

“Charlie Munger changed my views – he refined them in a huge way, in terms of looking for the quality companies, and looking out for the ability to make an investment that will work out for five or 10 or 20 years as opposed to something where there might be one more puff left in the cigar. And that worked OK, but it was small-scale and it really doesn’t build anything satisfying. So he kept forcing me in the direction of saying ‘is this really a business that we want to own for forever?'”

And here are some famous last words: