Remembering Charlie Munger: 10 Pearls of Wisdom From the 'Oracle of Pasadena'

investing.com:

Charlie Munger, the longstanding partner of Warren Buffett and a cornerstone of Berkshire Hathaway (NYSE:BRKa) (NYSE:BRKb), whose contributions helped generate wealth and prosperity for all its shareholders, has passed away at the age of 99.

Munger's family members informed that he peacefully passed away in a California hospital this morning.

Warren Buffett, CEO of Berkshire Hathaway, acknowledged,

«Berkshire Hathaway could not have achieved its current status without Charlie's inspiration, wisdom, and active involvement.»

Munger, often considered Buffett's right-hand man, embarked on an extraordinary business journey. Starting from working for Buffett's grandfather during the Great Depression, he became Buffett's indispensable partner at Berkshire Hathaway for over four decades. Despite different personalities and political affiliations, their partnership thrived, transforming Berkshire into a multi-billion-dollar powerhouse.

Recognized for his sharp wit and insightful perspectives, the affectionately nicknamed «Oracle of Pasadena,» Charlie Munger, complemented Buffett's optimism with astute observations on investments and human nature.

Their partnership, which commenced in 1975 at Berkshire, reshaped investment strategies. Munger influenced Buffett to concentrate on acquiring outstanding companies at reasonable prices, broadening Buffett's perspectives beyond Graham's teachings.

Munger's wisdom, shared at Berkshire's annual meetings and through his investment initiatives, leaves a legacy not only in finance but also in philanthropy, modest living, and a profound skepticism towards transient trends like social media, cryptocurrencies, and artificial intelligence.

In his nearly century-long life, Charlie, known for his