2023-11-29 00:49:27
Charlie Munger, Warren Buffett’s comrade and vice chairman of Berkshire Hathaway, confirmed his death earlier at the age of 99.
(Previous summary: Charlie Monger: Cryptocurrency “is rampant capitalism”! MicroStrategy CEO said he has no time to study Bitcoin)
(Background supplement: Stock God Buffett: Bitcoin is “just gambling” and a delusional attempt to get rich; banks may continue to collapse)
Charlie Munger, vice chairman of Berkshire Hathaway, earlier confirmed that he passed away peacefully in a hospital in Los Angeles, California on November 28, 2023. He was 99 years old. He is just one month away from his 100th birthday (January 1, 2024).
Buffett’s condolence statement
Monger has long been the closest comrade and advisor to stock investor Warren Buffett. Monger has provided valuable advice to Buffett in terms of investment, mergers and acquisitions, and corporate management, which has had a profound impact on Buffett’s investment strategy.
Buffett noted in a statement:
Without Monger’s inspiration, wisdom and involvement, Berkshire would not be where it is today.
Monger’s life
Charlie Monger was born in Omaha, Nebraska, USA in 1924. He was originally a lawyer. It wasn’t until 1959 that Monger met Buffett, who was seven years his junior. The two began a sixty-year cooperation and jointly established Berkshire Hathaway, making it one of the world’s largest corporate giants with a current market value. A whopping $784.9 billion.
Monger’s investment strategy advocates finding great companies, investing for the long term and waiting for returns. His philosophy profoundly influenced Buffett’s early “buy when it’s cheap” oriented investment approach, transforming it into the “value investing” philosophy that everyone is familiar with today.
Monger and Buffett are also examples of simple living. Although they are rich, they both choose a frugal lifestyle, proving that wealth does not necessarily require a luxurious life. The two have lived in the same house for more than 60 years, although Monger’s Berkshire stakes are worth more than $2 billion.
Criticized cryptocurrencies many times
We know that Monger has long been skeptical of cryptocurrencies. He has repeatedly stated that investing in Bitcoin is foolish and predicted that the ultimate value of most cryptocurrencies will return to zero.
Don’t ask me to invest in Bitcoin, it’s the dumbest investment I’ve ever seen, most of them (cryptocurrencies) will go to zero.
With his passing, it is a pity that we may never see Munger change his views on cryptocurrencies. RIP
Extended reading: Buffett’s Comrade” Charlie Monger: Everyone is an idiot for buying cryptocurrencies!America should be ashamed of its lax regulations
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