Investor Munger Passes, at 99
Charlie Munger, vice chairman of Berkshire Hathaway (BRK-A, BRK-B), right-hand man to Warren Buffet, and a legend of the investing world, died on Nov. 28 at the age of 99. He thought and lived in quotes. Here are some:
• Warren and I don’t focus on the froth of the market. We seek out good long-term investments and stubbornly hold them for a long time.
• You don’t, however, need to own a lot of things in order to get rich.
• You have to keep learning if you want to become a great investor. When the world changes, you must change.
• " . . . life will have terrible blows, horrible blows, unfair blows. Doesn’t matter. And some people recover and others don’t. And there I think the attitude of Epictetus is the best. He thought that every mischance in life was an opportunity to behave well. Every mischance in life was an opportunity to learn something and your duty was not to be submerged in self-pity, but to utilize the terrible blow in a constructive fashion. That is a very good idea." — 2007 USC Law School Commencement Address
“You don’t have a lot of envy, you don’t have a lot of resentment, you don’t overspend your income, you stay cheerful in spite of your troubles, you deal with reliable people and you do what you’re supposed to do. All these simple rules work so well to make your life better.” — 2019 CNBC interview
"Without the method of learning, you're like a one-legged man in an ass-kicking contest. It's just not going to work very well." — 2021 Daily Journal Annual Meeting
“In my whole life, I have known no wise people (over a broad subject matter area) who didn’t read all the time — none, zero. You’d be amazed at how much Warren reads — and at how much I read. My children laugh at me. They think I’m a book with a couple of legs sticking out.” — Poor Charlie's Almanack
“I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than when they got up and boy does that help — particularly when you have a long run ahead of you.” — 2007 USC Law School Commencement Address
“I think that a life properly lived is just learn, learn, learn all the time.” — 2017 Berkshire Hathaway Annual Meeting
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