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Investing legend Charlie Munger once bankrolled a windowless dorm at the University of Michigan. Munger, who passed away on Tuesday, once funded a $185 million dorm at his alma mater, the University of Michigan. In 2013, Munger donated $110 million to construct the Munger Graduate Residences. Advertisement"You never saw a happier bunch of students," Munger told CNN about a visit he made to Munger Graduate Residences in 2021. "It was a mistake on my part," Munger told CNN.
Persons: Charlie Munger, Munger, , Luiza, Macadeo Organizations: University of Michigan, CNN, Service, Munger Graduate, Bloomberg, University of California, Santa Barbara, UCSB Locations: Munger, Santa
CNBC Daily Open: AI schadenfreude is real
  + stars: | 2023-11-29 | by ( Clement Tan | ) www.cnbc.com   time to read: +3 min
This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Munger's family said he died peacefully Tuesday morning at a California hospital, according to a press release from Berkshire Hathaway. Bob the builderDisney Chief Executive Officer Bob Iger told employees Tuesday during an internal town hall that he was looking forward to "building again" after spending 2023 mending parts of the business that "needed attention." [PRO] Defense winnersMany countries have beefed up their defense budgets as geopolitical threats mount in the Asia-Pacific region and elsewhere in the world.
Persons: China's CSI300, Korea's KOSPI, Munger, Charlie Munger, Warren Buffett's, Munger's, Berkshire Hathaway, Buffett, Bob, Bob Iger, Iger, Goldman, Apple, Goldman Sachs, CNBC's Leslie Picker, AllianceBernstein Organizations: CNBC, Hong, Nikkei, Federal Reserve, Berkshire Hathaway, Berkshire, Disney, ESPN, Apple Locations: Frankfurt, Germany, Hong Kong, Asia, Pacific, California
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
Everybody could use a Charlie Munger
  + stars: | 2023-11-29 | by ( Lauren Silva Laughlin | ) www.reuters.com   time to read: +3 min
NEW YORK, Nov 29 (Reuters Breakingviews) - Every great leader needs a Charlie Munger. The deputy to Berkshire Hathaway’s (BRKa.N) Warren Buffett died on Tuesday morning just a month shy of his 100th birthday. And Munger kept at it: at age 99, having served as Berkshire’s vice chairman since 1978, he was still giving interviews as recently as this month. Munger was capable when taking the opposite view from his boss, encouraging the kind of debate that fosters better decisions. Follow @thereallsl on XCONTEXT NEWSCharlie Munger, the longtime vice chairman and second-in-command to Warren Buffett at Berkshire Hathaway, died at a California hospital, the company said on Nov. 28.
Persons: Charlie Munger, Warren Buffett, Munger, lobbing, , Buffett, CNBC’s Becky Quick, Greg Abel, Ajit Jain, That’s, Buffett’s, Berkshire Hathaway, ” Buffett, Jonathan Guilford, Sharon Lam Organizations: Reuters, Berkshire Hathaway’s, Berkshire, Costco Wholesale, Thomson Locations: Berkshire, Omaha, , California
BYD is so much ahead of Tesla, it's almost ridiculous ," Munger said in February. Except for that, it is a perfect damn company, and it has a marvelous future," Munger said earlier this year. Even though 2023 has been marked by the strong performance of major tech stocks, Costco has proven to be a big winner with a gain of nearly 30%. Except for that, it is a perfect damn company, and it has a marvelous future," Munger said earlier this year. Even though 2023 has been marked by the strong performance of major tech stocks, Costco has proven to be a big winner with a gain of nearly 30%.
Persons: Charlie Munger's, Munger's, Warren Buffett, Munger, Berkshire Hathaway, Hathaway, Elon Musk, Tesla, Costco Wholesale . Munger, It's, Banks, Charlie, Charlie Munger Charlie Munger's, Charlie Munger’s, Charlie Munger, Lacy O'Toole, CNBC Charlie Munger's, Elon Musk's Tesla Organizations: Berkshire Hathaway, Daily Journal Corp, Berkshire, BYD, Daily, Costco, Costco Wholesale ., Bank of America, U.S . Bancorp, DJ, Berkshire Hathaway Inc, CNBC Locations: Berkshire, China, Tesla, BYD, America, Wells Fargo, California
The Secrets to Charlie Munger’s Success
  + stars: | 2023-11-28 | by ( Jason Zweig | ) www.wsj.com   time to read: 1 min
Charlie Munger in 2019 at his home in Los Angeles. Photo: Michael Lewis for The Wall Street JournalBusiness and financial leaders made frequent pilgrimages to Los Angeles to hear Charlie Munger ’s thoughts as he held court while peering through thick eyeglasses over high, rosy cheekbones. Among the attendees at his weekly “Friday lunch club” and periodic dinners were John and Patrick Collison , founders of the online payment firm Stripe; Bobby Kotick , chief executive of videogame company Activision Blizzard ; Pradeep Khosla , chancellor of the University of California, San Diego; Maria Pope , chief executive of Portland General Electric , Oregon’s largest utility; and Howard Marks , co-founder of investment firm Oaktree Capital Management.
Persons: Charlie Munger, Michael Lewis, Charlie Munger ’, John, Patrick Collison, Bobby Kotick, Pradeep Khosla, Maria Pope, Howard Marks Organizations: The Wall Street Journal, Activision Blizzard, University of California, Portland General Electric, Oaktree Capital Management Locations: Los Angeles, San Diego, Portland
No equal business partner has ever played second fiddle better than Charlie Munger . Warren Buffett ’s closest friend and consigliere for six decades, the billionaire vice chairman of Berkshire Hathaway died Tuesday at age 99 in a California hospital. A news release from Berkshire confirmed his death.
Persons: Charlie Munger, Warren Buffett ’, Berkshire Hathaway Organizations: Berkshire Locations: California
In fact, the Berkshire vice chairman called it "insane" to teach that one has to diversify when investing in common stocks. "I have a friend who says the first rule of fishing is to fish where the fish are. We've gotten good at fishing where the fish are," the then-93-year-old Munger told the thousands of people at Berkshire's 2017 meeting. Big money is in the 'waiting'The investing sage believed that in investing, it pays to wait. Munger often defended Berkshire's inaction as he always saw the virtue of sitting on the sidelines to wait for a good opportunity.
Persons: Charlie Munger, Warren Buffett's, Buffett, Benjamin Graham, Munger, Berkshire Hathaway, We've Organizations: Columbia University, Berkshire, Costco Wholesale Corp, Price Club Locations: Berkshire, Berkshire's
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLooking back at the life and legacy of investing legend Charlie MungerCNBC's Becky Quick looks back at the life and legacy of long-time Warren Buffett business partner and investing legend Charlie Munger following news of his death at 99.
Persons: Charlie Munger, Becky Quick, Warren Buffett
Berkshire Hathaway Vice Chair Charlie Munger arrives to begin the company's annual meeting in Omaha May 4, 2013. EXPANDING BUFFETT'S HORIZONSMunger and Buffett did differ politically, with Munger being a Republican and Buffett a Democrat. Like Buffett, Munger was a fan of the famed economist Benjamin Graham. ORACLE OF PASADENAFans dubbed Buffett the "Oracle of Omaha," but Munger was held in equal esteem by his own followers, who branded him the "Oracle of Pasadena" after his adopted hometown in California. "I was raised by people who thought it was a moral duty to be as rational as you could possibly make yourself," Munger told Daily Journal shareholders in 2020.
Persons: Charlie Munger, Rick Wilking, Charles Munger, Warren Buffett's, Munger's, Buffett, Munger, Berkshire Hathaway, HORIZONS Munger, Santa Barbara, Warren, Benjamin Graham, Charlie, Ben Graham, Charles T, Kathy Kristof, Buffett's, Ernest . Buffett, Olson, Wheeler, Alice Schroeder, Nancy, Graham, Heinz, Todd Combs, Ted Weschler, Nancy Munger, Jonathan Stempel, Diane Craft, Rosalba O'Brien Organizations: Berkshire Hathaway, REUTERS, Berkshire Hathaway Inc, Munger, CNBC, Buffett, HORIZONS, Republican, University of California, Berkshire, ORACLE, PASADENA, Oracle, Wesco Financial Corp, Daily Journal Corp, Daily, Los Angeles Times, University of Michigan, U.S . Army Air Corps, Harvard Law School, Tolles, Munger &, Omaha Club, BNSF, 3G Capital, Kraft Foods, Reuters, Thomson Locations: Omaha, California, Berkshire, Omaha , Nebraska, Vienna, Santa, Pasadena, Munger, TETE, Los Angeles, New York
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
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCharlie Munger and Warren Buffett both on 'the Mount Rushmore of long-term investors': Josh BrownHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.
Persons: Charlie Munger, Warren Buffett, Rushmore, Josh Brown, Brian Sullivan, Organizations: CNBC
Munger, who died Tuesday at the age of 99, leaves behind not just an illustrious career as an investor but also a string of jokes and stories that entertained Berkshire Hathaway watchers for decades. Many of the quotes below come from annual meetings of Berkshire Hathaway and are chronicled in CNBC's Warren Buffett archive. Those events — sometimes called "Woodstock for Capitalists" — allowed Berkshire shareholders to ask Buffett and Munger questions about the company. They also gave the investing titans a chance to share wisdom and jokes, often at their own expense. Here's a collection of some of Munger's funniest quotes and life advice, starting with his musings on aging and the proper goals for your own funeral.
Persons: Charlie Munger, Munger, Berkshire Hathaway, CNBC's Warren Buffett, , Buffett Organizations: Berkshire Locations: Woodstock
The investing community lost one of its pillars Tuesday with the death of Berkshire Hathaway vice chair Charlie Munger, according to Ariel Investments' Charles Bobrinskoy. He was a "true master of investing," Bobrinskoy, the firm's vice chair, said on CNBC's "Closing Bell: Overtime" shortly after Munger passed away Tuesday. "He was a really important voice in value investing and all investing." He was right there with Warren Buffett throughout all of the great Berkshire Hathaway years," Bobrinskoy added. For more on Munger's life, see our full obituary of the investing legend.
Persons: Berkshire, Charlie Munger, Ariel, Charles Bobrinskoy, Munger, Warren Buffett, Bobrinskoy, Buffett Organizations: Berkshire Hathaway, Ariel Investments
Read previewWell-known investor Charlie Munger has died at the age of 99 after a decades-long career. In the last decades of his life, Munger began selling or donating the majority of his Berkshire stock. You're going to crater immediately. If you've got two suitors who are eager to have you, but one is way better than the other, you're going to choose that one rather than the other. If you don't, you're going to need a lot of luck."
Persons: , Charlie Munger, Munger, Berkshire Hathaway, Warren Buffett, Buffett, I'm, Bonnie Schiffman, you've, it's, We're, Warren Organizations: Service, Forbes, CNBC Locations: Berkshire, Omaha, Berkshire Hathaway
[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
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
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
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCNBC's Becky Quick looks back on the life and legacy of Charlie MungerCNBC's Becky Quick calls into 'Closing Bell Overtime' to discuss her recent interview with Charlie Munger ahead of what would have been his 100 birthday. Long-time business partner of Warren Buffett, Munger died at the age of 99.
Persons: Becky Quick, Charlie Munger, Warren Buffett, Munger
In this article BRK.A Follow your favorite stocks CREATE FREE ACCOUNTwatch nowBillionaire Charlie Munger, the investing sage who made a fortune even before he became Warren Buffett's right-hand man at Berkshire Hathaway, has died at age 99. In addition to being Berkshire vice chairman, Munger was a real estate attorney, chairman and publisher of the Daily Journal Corp., a member of the Costco board, a philanthropist and an architect. We've gotten good at fishing where the fish are," the then-93-year-old Munger told the thousands of people at Berkshire's 2017 meeting. Warren Buffett (L), CEO of Berkshire Hathaway, and vice chairman Charlie Munger attend the 2019 annual shareholders meeting in Omaha, Nebraska, May 3, 2019. "Well, I would say basically we're like the captain of a ship when the worst typhoon that's ever happened comes," Munger told The Wall Street Journal in April 2020.
Persons: Charlie Munger, Warren Buffett's, Munger, Berkshire Hathaway, Buffett, Greg Abel, Benjamin Franklin, We've, Charles Thomas Munger, Alfred, Florence, Toody, didn't, Janet Lowe's, Nancy Huggins, Olson, Wheeler, Dean Scott Derue, Franklin Otis Booth, Booth, Derue, CNBC's Becky Quick, Charlie, He's, I've, Warren Buffett, Johannes Eisele, Goldman Sachs, We're, Oh goody, goody, everything's Organizations: Berkshire Hathaway, Berkshire, New, Daily Journal Corp, Costco, Buffett's Berkshire, CNBC, University of Michigan, Army Air Corps, California Institute of Technology, Scripps College, Harvard Law School, Tolles, Munger & Co, Michigan Ross Business School, Los Angeles Times, Buffett, Omaha, AFP, Getty, Bank of America, Wall Street Journal Locations: California, Munger, Pasadena , California, Berkshire, Omaha , Nebraska, Omaha, Warren, Pasadena
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
Workday notched adjusted earnings of $1.53 per share on $1.87 billion in revenue, while analysts surveyed by LSEG, formerly known as Refinitiv, expected $1.41 in earnings per share and $1.85 billion in revenue. Leslie's is calling for an adjusted loss of 21 cents to 20 cents per share, compared to analysts' expectations for a loss of 16 cents per share, according to FactSet. Fourth-quarter adjusted earnings were also below expectations. Las Vegas Sands — The casino operator slipped 3.5% after it announced that Miriam Adelson would sell $2 billion in shares. Daily Journal — Shares of the Daily Journal are expected to be active.
Persons: NetApp, FactSet, Jabil, Miriam Adelson, Adelson, Charlie Munger, Berkshire Hathaway, — CNBC's Contessa Brewer, Darla Mercado Organizations: Wall, LSEG, Vegas Sands, Las Vegas Sands, Daily, Daily Journal, Berkshire Locations: Pleasanton , California, Vegas, Las Vegas
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
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCharlie Munger: When Warren and I were starting 'I never thought we would ever get to $100 billion'CNBC's Becky Quick joins 'Fast Money' to discuss her recent interview with Charlie Munger ahead of what would have been his 100 birthday. Long-time business partner of Warren Buffett, Munger died at the age of 99.
Persons: Charlie Munger, Warren, Becky Quick, Warren Buffett, Munger
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
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