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☆ How investing $100 in Berkshire Hathaway when Charlie Munger joined would now be worth nearly $400,000
▼ + stars: | 2023-11-30 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

Munger, a billionaire investor and vice chairman of Buffett’s investment firm Berkshire Hathaway, died Tuesday morning at 99 years old. (Berkshire Hathaway shares, which didn’t have different classes then, ended 1977 at $138 a share.) Projections of Warren Buffett, Berkshire Hathaway Inc. chairman and chief executive officer, and Charles Munger, vice chairman of Berkshire Hathaway. Berkshire outperformed the S&P 500 during 31 of the 46 years Munger was at the company, according to Bespoke. The Christmas Price Index, now in its 40th year, is a tongue-in-cheek take on the Bureau of Labor Statistics’ Consumer Price Index and is meant to highlight market changes over time while educating consumers about the economy.

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☆ 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.

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(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.

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☆ Chinese social media mourns Charlie Munger, who said BYD was his best investment
▼ + stars: | 2023-11-28 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Chinese social media users are mourning the death of billionaire investor Charlie Munger. The vice chairman of Berkshire Hathaway passed away “peacefully” on Tuesday morning in a California hospital, according to a press release by the investment firm. According to a recent filing by Berkshire Hathaway to the Hong Kong stock exchange, the firm held about 7.98% of BYD by late October. Berkshire Hathaway has sold more than 137 million shares of BYD since the middle of 2022, according to its previous statements. He praised the country despite its crackdown on Chinese tech giant Alibaba, which was a top Munger investment at Daily Journal, a Los Angeles-based newspaper publisher and investment firm Munger headed from 1977 through 2022.

Persons: Charlie Munger, Berkshire Hathaway, “, ”, Warren Buffett, Tim Cook, Munger, Tesla, “ Munger, ” Stella Li, Hathaway, ” Munger, Wang Chuanfu Organizations: Hong Kong CNN, Berkshire, Apple, BYD, Hong Kong, Tesla, Elon, Daily Journal Locations: Hong Kong, ”, California, China, Weibo, American, BYD Americas, Berkshire, BYD, Tesla, Munger, Los Angeles

☆ Key Lessons From Legendary Investor Charlie Munger
▼ + stars: | 2023-11-28 | by ( ) www.wsj.com time to read: 1 min

“People chronically misappraise the limits of their own knowledge; that's one of the most basic parts of human nature,” Munger said. “Knowing the edge of your circle of competence is one of the most difficult things for a human being to do. Knowing what you don't know is much more useful in life and business than being brilliant.”

Persons: ” Munger

☆ Charlie Munger praises Warren Buffett’s big bets on Japan on Acquired podcast
▼ + stars: | 2023-11-01 | by ( Michelle Toh | ) edition.cnn.com time to read: +5 min

“It was awfully easy money,” Charlie Munger, Buffett’s longtime lieutenant and vice chair of Berkshire Hathaway (BRKA), said in an interview with the Acquired podcast released this week. The firms backed by Berkshire — Itochu, Marubeni, Mitsubishi Corporation, Mitsui & Co., and Sumitomo — are known as “sogo shosha” or general trading companies in Japan. “These trading companies were really entrenched, old companies, and they had all these cheap copper mines and rubber plantations, and so you could borrow [easily],” Munger added. Buffett’s decision to invest in Japan has buoyed optimism about prospects in the world’s third largest economy. The legendary investor has previously cheered “the future of Japan,” casting more attention to the country from other foreign backers.

Persons: Hong Kong CNN — Warren, Charlie Munger, Buffett’s, Berkshire Hathaway, Berkshire —, Munger, Warren Buffett, ”, ” Munger, “, Wang Chuanfu, Omaha ”, China’s Organizations: Hong Kong CNN, Japan’s Nikkei, Berkshire, Berkshire — Itochu, Mitsubishi Corporation, Mitsui & Co, Sumitomo, BYD, Hyundai, Apple Locations: Hong Kong, Japan, Berkshire, United States, “, Munger, Asia, South, TSMC, Omaha, Taiwan, China

☆ Charlie Munger still likes big banks and hates crypto
▼ + stars: | 2023-02-15 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +3 min

“I might have different ideas [than Buffett],” Munger said about bank stocks at the annual meeting for the Los Angeles-based newspaper publisher Daily Journal, where Munger was chairman until last year. Munger remains a board director at Daily Journal and is one of its top investors. Daily Journal, like Berkshire Hathaway (BRKB), is a conglomerate that also owns some individual stocks. Daily Journal’s portfolio is much smaller than Berkshire’s. Munger said he doesn’t want to sell Daily Journal’s bank investments because Daily Journal bought many of the stocks at the bottom during the 2008-2009 financial crisis.

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