In Memoriam: Charlie Munger

The global financial markets have lost a legend with the passing of Charlie Munger, aged 99 on Tuesday night in California. One of the brightest stars in the investing firmament and known for his wit and financial wisdom, he was more than what his job title as the vice-chairman of Berkshire Hathaway could ever encapsulate. At this leading American investment conglomerate that has had Warren E. Buffett as its face to the world, he was the partner Buffett looked up to for nearly half a century.

The influential billionaire philanthropist and Warren Buffett’s closest aide, he would have been 100 on NewYear’s Day. As Buffett said in a statement, “Berkshire Hathaway could not have been built to its present status without Charlie’s inspiration, wisdom and participation.”

Crediting Munger with pushing him to focus at Berkshire buying the right product at the right price, Buffett had said, “Charlie shoved me in the direction of not just buying bargains, as Ben Graham had taught me. It was the power of Charlie’s mind. He expanded my horizons.”

Munger had a quintessential dry wit and is often referred to as the Oracle of Psadena, after his adopted hometown in California showed how the investment world held him in as much respect as Buffett, who is often referred to as the Oracle of Omaha.

Born on January 1, 1924, Munger has worked part-time at the Omaha grocery run by Warren Buffett’s grandfather Ernest. He later enrolled in the University of Michigan but dropped out to serve as a meteorologist in the US Army. Later he graduated from Harvard Law School in 1948 despite not getting an undergraduate degree. He then practiced law in Los Angeles somewhere in the mid 60s he turned his attention and interest to managing investments in stocks and real estate. However, at Berkshire he was seen more in the background. He even resisted a presence in social media. While Buffett was the voice that was heard more, Munger was in many ways that absolute ‘reality check’ for the Berkshire investment.

The Philanthropist lived a rather modest life having pledged more than $100 million in charity. We pay tribute to the iconic investor and in his own words, “Spend each day trying to be a little wiser than you were when you woke up. Day by day, and at the end of the day-if you live long enough-like most people, you will get out of life what you deserve.”