Charlie Munger: A Legacy of Business, Wisdom, and Investing

By Paul Moon

Charlie Munger, the renowned American businessman, investor, and philanthropist, was a pivotal figure as the vice chairman of Berkshire Hathaway, standing shoulder to shoulder with Warren Buffett. Born on January 1, 1924, in Omaha, Nebraska, Munger's path in the world of business and investing was defined by resilience and an insatiable quest for knowledge.

Early Life and Education

During his youth, Munger worked at Buffett & Son, a grocery store owned by Warren Buffett's grandfather. His educational journey led him to the University of Michigan before serving in the U.S. Army Air Corps during World War II. Post-war, he pursued advanced courses and eventually excelled at Harvard Law School, graduating magna cum laude with a J.D. in 1948.

Munger's approach to business drew from diverse experiences, including his time in college, the Army, and his proficiency in card playing. He advocated for rational decision-making, stressing the importance of seizing opportunities while avoiding speculative ventures.

Professional Journey

Transitioning from law to investments, Munger founded Munger, Tolles & Olson LLP and ventured into real estate development. His path converged with Warren Buffett's after chance encounters over lunch, culminating in a partnership that shaped his investment career.

While renowned for his alliance with Buffett, Munger independently ran a successful investment partnership from 1962 to 1975, boasting impressive compound annual returns surpassing market averages.

Legacy and Leadership

Munger's influence extended beyond Berkshire Hathaway. He chaired Wesco Financial Corporation, known for its focused equity portfolio and shareholder meetings reminiscent of Buffett's renowned gatherings. Additionally, he led the Daily Journal Corporation, captivating investors with his insightful speeches.

Charlie Munger's legacy lies in his emphasis on rationality, continual learning, and a distinctive investment philosophy. His passing on November 28, 2023, marked the end of an era in the business world, leaving behind a profound influence on investing and decision-making.