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☆ Premarket stocks: Charlie Munger’s best quotes on investing, life and everything in between
▼ + stars: | 2023-11-29 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +5 min

New York CNN —Billionaire investor Charlie Munger, vice-chairman of Berkshire Hathaway and long-time friend to Warren Buffett, died on Tuesday. He said ‘if all you have is a hammer, the world looks like a nail.’”Munger, who was worth $2.7 billion according to Forbes, was revered for his pithy and often humorous remarks on investing, life and more. His speeches and writings, compiled in books like “Poor Charlie’s Almanack,” are considered essential reading for anyone interested in business, investing or the art of clear thinking. It looked to me like a kindergarten.” - Berkshire Hathaway meeting, 2018On algorithmic trading:“We have computers with algorithms trading against other computers. Look at it backward.” - Poor Charlie’s AlmanackOn passion:“You’ll do better if you have passion for something in which you have aptitude.

Persons: Charlie Munger, Berkshire Hathaway, Warren Buffett, Munger, ” Whitney Tilson, Buffett, “, ” Munger, Tilson, ”, We’ve, stockbrokers, they’ve, it’s, I’m, Tao, David Clarkhis Organizations: CNN Business, Bell, New York CNN, Berkshire, Forbes, Google, Berkshire Hathaway, USC, Kiplinger, “, Invest, Berkshire Hathaway’s Locations: New York, ”, Berkshire

☆ After Munger's death, Berkshire succession comes into focus
▼ + stars: | 2023-11-29 | by ( Jonathan Stempel | ) www.reuters.com time to read: +6 min

[1/4] Berkshire Hathaway Inc Vice Chairman Charles Munger speaks at the Daily Journal annual meeting in Los Angeles, U.S., February 15, 2017. Munger's death on Tuesday, five weeks shy of his 100th birthday, leaves Berkshire Vice Chairmen Greg Abel and Ajit Jain, who respectively oversee its non-insurance and insurance businesses, as the 93-year-old Buffett's top advisers and sounding boards. At the 2021 annual meeting, Jain was asked how he and Abel interact with each other. "You don’t need them to be as good as Buffett or Munger to make Berkshire a good company and arguably a great company." "It particularly doesn't feel like an annual meeting because my partner of 60 years, Charlie Munger, is not sitting up here," Buffett said.

Persons: Charles Munger, Lucy Nicholson, Berkshire, Charlie Munger, Warren Buffett, Buffett, Munger, Munger's, Greg Abel, Ajit Jain, Abel, Jain, Warren, Charlie, Bill Stone, Howard Buffett, Todd Combs, Ted Weschler, Bill Smead, Whitney Tilson, Munger didn't, Jonathan Stempel, Megan Davies, Paritosh Bansal, Stephen Coates Organizations: Berkshire Hathaway, Daily, REUTERS, Berkshire Hathaway's, Berkshire, BNSF, Investors, Glenview Trust, Berkshire Hathaway Energy, University of Alberta, PricewaterhouseCoopers, Energy, MidAmerican's, Apple, Smead Capital Management, Kase Capital, Thomson Locations: Los Angeles , U.S, Berkshire, Omaha , Nebraska, Munger, Glenview, Edmonton, Alberta, Indian, Odisha, Phoenix, Woodstock, Omaha, New York

☆ Watch CNBC's full interview with Whitney Tilson on lessons learned from Charlie Munger
▼ + stars: | 2023-11-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Whitney Tilson on lessons learned from Charlie MungerWhitney Tilson, author, value investor and long-time Charlie Munger follower, joins 'Fast Money' to reflect on the life and legacy of Munger following the investing legend's death at 99.

Persons: Whitney Tilson, Charlie Munger Whitney Tilson, Charlie Munger Locations: Munger

☆ I learned a lot about areas outside investing from Buffett and Munger: Value Investor Whitney Tilson
▼ + stars: | 2023-11-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailI learned a lot about areas outside investing from Buffett and Munger: Value Investor Whitney TilsonWhitney Tilson, author, value investor and long-time Charlie Munger follower, joins 'Fast Money' to reflect on the life and legacy of Munger following the investing legend's death at 99.

Persons: Whitney Tilson Whitney Tilson, Charlie Munger Organizations: Buffett Locations: Munger

(AP) — Charlie Munger, who helped Warren Buffett build Berkshire Hathaway into an investment powerhouse, has died at a California hospital. Berkshire Hathaway said in a statement that Munger’s family told the company that he died Tuesday morning at the hospital just over a month before his 100th birthday. “Berkshire Hathaway could not have been built to its present status without Charlie’s inspiration, wisdom and participation,” Buffett said in a statement. Munger and Buffett began buying Berkshire Hathaway shares in 1962 for $7 and $8 per share, and they took control of the New England textile mill in 1965. He also gave a significant portion of his Berkshire stock to his eight children after his wife died in 2010.

Persons: Charlie Munger, Warren Buffett, Berkshire Hathaway, ” Buffett, Munger, Buffett, “ Charlie, Buffett’s, Ben Graham, ” Munger, ” Edward Jones, Jim Shanahan, Cathy Seifert, ” Seifert, didn’t, Charles T, See’s Candy, it’s, ”, Investor Whitney Tilson, Tilson, you’ve, ” Tilson, hadn’t, Josh Funk Organizations: Daily Journal Corp, Wall Street Journal, CNBC, Columbia University, Berkshire Hathaway, BNSF, Apple, CFRA, Buffett, Buffalo News, Wesco, Investor, University of Michigan, Army Air Corps, Harvard University, Harvard, Westlake, Stanford University Law School, Huntington Library, Samaritan Hospital, Westlake School, Costco Wholesale Corp Locations: OMAHA, Neb, Berkshire, California, New England, Los Angeles, Pasadena, Munger, Omaha , Nebraska, Omaha, Southern California, “, ”

☆ The investing world reacts to death of Berkshire legend Charlie Munger
▼ + stars: | 2023-11-28 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

Several investors mourned the passing of famed investor Charlie Munger, vice chairman of Warren Buffett's Berkshire Hathaway , on Tuesday. "So sad to hear the news of the passing of Charlie Munger," El-Erian wrote. Mario Gabelli, chairman and CEO of Connecticut-based GAMCO Investors, wrote on Twitter: "Charlie Munger ….a titan has passed …all will miss Charlie." "Charlie Munger helped build an American institution, and through his wisdom and insights, inspired a generation of leaders. "Charlie Munger was a brilliant attorney," Annandale Capital chairman George Seay said Tuesday evening on Yahoo Finance.

Persons: Charlie Munger, Warren Buffett's Berkshire Hathaway, Berkshire Hathaway, Buffett, Munger, Ariel Investments, Charles Bobrinskoy, Mohamed El, PIMCO, Erian, Mario Gabelli, Charlie Munger …, Charlie, Tim Cook, Cook, Stephanie Link, Hightower, Whitney Tilson, Tilson, George Seay, Wesley Chan, Chan, —, Christina Cheddar Berk, Brian Evans, Alex Harring Organizations: Warren, Allianz, Twitter, Apple, Berkshire, Hightower Advisors, Berkshire Hathaway, CNBC, Yahoo Finance, Daily, Costco Locations: Munger, Connecticut, Berkshire, American, California, Annandale, FPV

☆ Charlie Munger, who was Warren Buffett's right-hand man at Berkshire, dies at 99
▼ + stars: | 2023-11-28 | by ( Jonathan Stempel | ) www.reuters.com time to read: +6 min

[1/3] Berkshire Hathaway Inc Vice Chairman Charles Munger speaks at the Daily Journal annual meeting in Los Angeles, U.S., February 15, 2017. The death of Munger, a Berkshire vice chairman since 1978, marks an end of an era in corporate America and investing. "It's a shock," said Thomas Russo, a partner at Gardner Russo & Quinn in Lancaster, Pennsylvania, and longtime Berkshire shareholder. PHILOSOPHICALLY ALIKESince becoming a Berkshire vice chairman, Munger worked closely with Buffett on allocating Berkshire's capital and not mincing words when he thought his business partner was making a mistake. Money manager Whitney Tilson, who knew Munger personally, said a "generation of investment managers" learned some of their craft from Munger and Buffett.

Persons: Charles Munger, Lucy Nicholson, Warren Buffett's, Charlie Munger, Munger, Berkshire Hathaway, Buffett, Thomas Russo, Gardner Russo, Quinn, Rick Meckler, Charlie, Warren, Paul Lountzis, Whitney Tilson, Tilson, Greg Abel, Ajit Jain, Abel, Buffett's, Howard, CHARLIE, Jain, Lountzis, Russo, Jonathan Stempel, Lewis Krauskopf Svea, Bayliss, Chibuike, Megan Davies, Rosalba O'Brien, Lisa Shumaker Organizations: Berkshire Hathaway, Daily, REUTERS, Cherry Lane Investments, Lountzis, Management, BNSF, Apple, Thomson Locations: Los Angeles , U.S, Berkshire, California, America, Omaha , Nebraska, Lancaster , Pennsylvania, Munger, New Jersey, Wyomissing , Pennsylvania, Omaha, Warren, New York

☆ Charlie Munger death: Warren Buffett’s business partner in Berkshire Hathaway passes away, aged 99
▼ + stars: | 2023-11-28 | by ( Paul R. La Monica | Krystal Hur | ) edition.cnn.com time to read: +3 min

New York CNN —Billionaire investor Charlie Munger, the long-time friend and business partner of Warren Buffett, has died. Berkshire Hathaway, the investment firm where Munger served as vice chairman, said in a press release that Munger passed “peacefully” on Tuesday morning in a California hospital. Charles Thomas Munger, known by his nickname, “Charlie,” was born on January 1, 1924, in Omaha, Nebraska. Buffett told CNBC in 2021 that after their first meeting, he knew “I’m not going to find another guy like this …. “If people weren’t so often wrong, we wouldn’t be so rich,” Munger said during a 2015 Berkshire Hathaway annual shareholders meeting.

Persons: Charlie Munger, Warren Buffett, Berkshire Hathaway, Munger, Charles Thomas Munger, “ Charlie, ”, Wall, Munger’s, “ Berkshire Hathaway, Charlie, Mohamed El, ” Whitney Tilson, Buffett, “, ” Munger, “ I’m, CNN Munger, — CNN’s Nicole Goodkind Organizations: New, New York CNN, Berkshire, US Army, University of Michigan, Harvard Law School, Berkshire Hathaway, Erian, Allianz, CNN, Forbes, CNBC, Xerox, Daily Journal Locations: New York, “, ”, California, Omaha , Nebraska, Southern California, Japan, Omaha, Berkshire, Munger, Los Angeles

☆ Berkshire Hathaway vice chairman Charlie Munger dies at 99
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +12 min

Nov 28 (Reuters) - Charlie Munger, the longtime vice chairman and second-in-command to Warren Buffett at Berkshire Hathaway (BRKa.N), died on Tuesday morning at a California hospital. For stock-pickers like us to lose Charlie Munger, would be like if you’re a basketball fan and you lose Bill Russell. "I wouldn't think Berkshire will look much different, apart from Buffett no longer being able to share ideas with Munger. CATHERINE SEIFERT, VICE-PRESIDENT, CFRA RESEARCH, NEW YORK“Berkshire Hathaway shareholders are not going to be directly or negatively impacted from the passing of Charlie Munger. Therewass already a transition plan in place and there's a transition plan in place when Warren Buffett passes away.

Persons: Charlie Munger, Warren Buffett, Charlie, WHITNEY TILSON, BRIAN MOYNIHAN, Charlie Mungerwass, ” BURNS MCKINNEY, Bill Russell, ”, Berkshire Hathaway, ” PHIL ORLANDO, FEDERATED HERMES, BILL, Buffett, Munger, PHILLIP, —, STEVE SOSNICK, “, ” WIN MURRAY, DIAMOND, MARY JO, BILL SMEAD, Warren, ” “ Buffett, Todd Combs, Ted Weschler, ” PAUL LOUNTZIS, Greg Abel, I've, you'll, STEPHEN DODSON, hewass, ” PAUL NOLTE, FOR MURPHY, Warren Buffet, they've, QUINCY KROSBY, RICK MECKLER, CHERRY, NEW VERNON, Hewass, obviouslywass, DOUG KASS, ” THOMAS RUSSO, GARDNER RUSSO, QUINN, CATHERINE SEIFERT, he's, ” ANTHONY SAGLIMBENE, THOMAS HAYES Organizations: Berkshire Hathaway, COOK, APPLE, WHO, KASE, OF, FEDERATED, Berkshire, ” WIN, THE BRETTON, SAN, SYLVEST, NEW, Buffett, GREAT, Global Finance, Markets, Thomson Locations: California, Munger, Berkshire, American, DALLAS , TEXAS, GLENVIEW, CALIFORNIA, CONNECTICUT, DIAMOND HILL, COLUMBUS , OHIO, PHOENIX, ” “ Berkshire, , PENNSYLVANIA, ELMHURST, IL, CHARLOTTE, NC, CHERRY LANE, NEW JERSEY, LANCASTER , PENNSYLVANIA, Munger . Berkshire, TROY , MICHIGAN, GREAT HILL

The meeting was scheduled for hours after Zelenskiy addressed the United Nations Security Council about Russia's invasion and its consequences. Ukraine has tried to lock in financial support from business leaders to help rebuild the country. A spokesperson for Zelenskiy and Ukraine's mission to the United Nations in New York did not immediately respond to a request for comment. Since the start of the war, Ackman's foundation has donated roughly $24 million to support Ukraine, a person familiar with the numbers said. Before the meeting in New York, the White House appealed to Congress to approve billions of additional dollars of support for Ukraine.

Persons: Ken Griffin, Mike Blake, Volodymyr Zelenskiy, Zelenskiy, JPMorgan Chase, Bill Ackman, Jonathan Gray, Robert Kraft, Henry Kissinger, Eric Schmidt, Mike Bloomberg, Barry Sternlicht, Mary Callahan Erdoes, Vince LaPadula, Whitney Tilson, Griffin, Howard Buffett, Warren, Svea Herbst, Bayliss, Lananh Nguyen, Andrea Shalal, Michelle Nichols, Megan Davies, Grant McCool Organizations: Citadel, Milken, Global Conference, REUTERS, United Nations Security Council, JPMorgan, Blackstone Group, New England Patriots football team, United, State, Google, United Nations, Griffin's Citadel, Ackman's Pershing, Capital Management, Ukraine, Fox News, Svea, Thomson Locations: Beverly Hills , California, U.S, New York, Ukraine, United States

Some billionaires rocketed into space as Branson and Amazon founder Jeff Bezos have. Other rich travelers journeyed on a submersible to explore the wreckage of the ocean liner Titanic. For $250,000 to $300,000 a trip, Kent sometimes fields unusual requests including helping a Saudi prince fulfill his dream of flying a plane onto and off of an aircraft carrier. The experience was so demanding that Ackman's father expressed concern about the intended trip, not for his son but for another fund manager who had signed up to go. One person familiar with that excursion said it probably wouldn't happen again, in part because it was such a potentially risky undertaking.

Persons: Eric Gaillard, Richard Branson, Branson, Jeff Bezos, ”, Alexandre Cymbalista, Geoffrey Kent, Kent, Goldman Sachs, Monica Heslington, Goldman, Melissa Biggs Bradley, Massimo Bottura, Bill Ackman, Whitney Tilson, Tilson, Ackman, Svea Herbst, Bayliss, Tatiana Bautzer, Julia Harte, Nupur Anand, Paritosh Bansal, Anna Driver Organizations: REUTERS, Twitter, Virgin Galactic, Virgin Group, Amazon, Wall Street, Abercrombie, Kent, Credit Suisse, SPECIAL, Goldman, Art Basel, Rubell Museum, Bank of America, Indagare, Ferrari, Navy, Svea, Thomson Locations: Nice, France, New York City, Branson, safaris, Botswana, Kent, Saudi, Africa, Miami, Art Basel, Modena, Italian, Mongolia, California

☆ Billionaire Ackman donates $3.25 million for ambulances in Ukraine
▼ + stars: | 2023-02-26 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +2 min

Feb 26 (Reuters) - Billionaire hedge fund manager Bill Ackman has pledged $3.25 million to help buy more than a dozen ambulances for Ukraine as it defends itself against Russia's invasion, according to a fellow investor who cited a conversation with him. "I had breakfast with my college buddy Bill Ackman this morning, walked him through the attached slide deck I put together about my ambulances-for-Ukraine mission, and on the spot he agreed to donate $3.25 million," Tilson wrote in the email, dated Feb. 25. Ackman's hedge fund Pershing Square Capital Management oversees roughly $16 billion in assets. Tilson has been leading an effort to buy ambulances for Ukraine that will be operated by humanitarian aid group MOAS (Migrant Offshore Aid Station), which is based in Malta. Ackman, whose great-grandfather emigrated to the United States from Ukraine, has an estimated net worth of $3.5 billion, according to Forbes.

☆ Berkshire Hathaway’s annual meeting is here: What to expect from Warren Buffett and Charlie Munger
▼ + stars: | 2022-04-29 | by ( Yun Li | ) www.cnbc.com time to read: +6 min

Warren Buffett at Berkshire Hathaway's annual meeting in Los Angeles California. Here are some of the big topics shareholders will want to hear from Buffett: Market outlook: The stock market has suffered a correction on fears of inflation and rising rates. The stock market has suffered a correction on fears of inflation and rising rates. A slowdown in buybacks: With Berkshire shares significantly outperforming, will Buffett cease or slow down his aggressive buyback program? With Berkshire shares significantly outperforming, will Buffett cease or slow down his aggressive buyback program?

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