Charles T. Munger, who quit a well-established law career to be Warren E. Buffett’s partner and maxim-spouting alter-ego as they transformed a foundering New England textile company into the spectacularly successful investment firm Berkshire Hathaway, died on Tuesday in Santa Barbara, Calif.
His death, at a hospital, was announced by Berkshire Hathaway.
Mr. Buffett has described him as the originator of Berkshire Hathaway’s investing approach.
“The blueprint he gave me was simple: Forget what you know about buying fair businesses at wonderful prices; instead, buy wonderful businesses at fair prices,” Mr. Buffett once wrote in an annual report.
That investing strategy was a revelation for Mr. Buffett, who had made his name in the 1950s buying troubled companies at deep discounts.
Persons:
Charles T, Munger, Warren, Berkshire Hathaway, Mr, Buffett, — Forbes, —
Organizations:
Berkshire
Locations:
England, Santa Barbara, Calif, Los Angeles, Berkshire