Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "munger"


25 mentions found


But Munger made mistakes too, and cited Alibaba and Belridge Oil as two of his biggest investing errors. AdvertisementLegendary investor Charlie Munger was a shrewd investor who helped Berkshire Hathaway make billions. Here are the mistakes Munger has admitted to:Alibaba was 'one of the worst mistakes' Munger madeMunger's Daily Journal quadrupled its holding of Alibaba stock in the third quarter of 2021. Oil giant Shell acquired Belridge Oil in 1979 for about 30 times the price Munger had paid for the company's shares. "But I would have had twice as many billions if I'd just made a different decision about Belridge Oil."
Persons: Charlie Munger, Warren Buffet, Berkshire Hathaway, Munger, , Munger —, Pinker, Alibaba, Jack Ma, they're Organizations: Service, Berkshire, Munger's Daily, Daily, Oil Munger, Belridge, Shell, Belridge Oil Locations: Berkshire, California, Munger's
Munger, Warren Buffett's trusted right-hand man, died on Tuesday at the age of 99. One of the legendary investor's rules: "Don't work for anyone you do not respect and admire." "A lot of employers will permit that if you're shrewd enough to work it out with some tact," wrote Munger, Buffett's close confidant. Munger's other two rules for career happiness were: "Don't sell anything you wouldn't buy yourself" and "work only with people you enjoy." "I have been incredibly fortunate in my life when it comes to these basic rules," Munger wrote.
Persons: Charlie Munger, Warren Buffett's, , Munger, Berkshire Hathaway, Buffett's, Munger's, Munger —, Buffett, Warren Buffett Organizations: CNBC, Service, Berkshire Locations: Munger, Berkshire, Omaha , Nebraska
In death, Charlie Munger is loved by China
  + stars: | 2023-11-29 | by ( Matthew Loh | ) www.businessinsider.com   time to read: +4 min
Chinese social media is treating Charlie Munger, who died at 99 on Tuesday, with great reverence. AdvertisementAs Wall Street mourns the death of investing legend Charlie Munger, Chinese social media is tipping its hat to the man. Advertisement"Live long, be rich, have children and grandchildren, what a perfect life," wrote another user under a news report about his death. Munger, who amassed a net worth of around $2.3 billion, had a reputation for witty one-liners on life, geopolitics, business, and governance. Munger, who was outspoken against cryptocurrencies, also lauded China's main bank for banning crypto in 2021.
Persons: Charlie Munger, , Berkshire Hathaway, Munger, aplenty, Warren Buffet's, Xi Jinping, Jack Ma, Ma, cryptocurrencies, Elon Musk's Tesla Organizations: Service, Berkshire, Weibo, Twitter, Sina Finance, Business, Communists Locations: Weibo, Munger, China, Berkshire, Nebraska, America, Washington, Beijing, Shenzhen
CNBC Daily Open: AI schadenfreude
  + 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. U.S. Treasury yields dipped on Tuesday, with the yield on the 10-year note last down nearly 6 basis points at 4.33%. Amazon's AI pushAmazon's AWS cloud unit has announced new chips for customers to build and run artificial intelligence applications on, as well as plans to offer access to Nvidia's latest chips. However, the favorable backdrop for Wall Street may have fueled unsustainable gains for a slate of stocks.
Persons: Munger, Charlie Munger, Warren Buffett's, Munger's, Berkshire Hathaway, Buffett, Bob Iger, Iger Organizations: CNBC, Federal Reserve, Treasury, Dow Jones, Nasdaq, Berkshire Hathaway, Berkshire, Disney, ESPN, Microsoft, Federal, CNBC Pro Locations: Frankfurt, Germany, U.S, California
Charlie Munger's unique partnership with Warren Buffett, spanning over half a century, helped forge one of the most successful conglomerates in history. The journey to their unparalleled success was full of learning, experience and laughter, but never an argument. Compared to Buffett's folksy image, Munger often spoke bluntly, sprinkling witty zingers that his followers adored. It's been so much fun," Munger said of his partnership with Buffett. Munger's Costco obsessionOn the rare occasions they disagreed, the two icons dealt with it by wielding laughter.
Persons: Charlie Munger's, Warren Buffett, Munger, Berkshire Hathaway, Charlie, Buffett, We've, it's Organizations: Buffett, Costco Locations: Omaha, Berkshire
An investing legend dies
  + stars: | 2023-11-29 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +5 min
AdvertisementIn today's big story, we're looking back on the life of investing legend Charlie Munger. What's on deck:But first, remembering Charlie Munger. AdvertisementCharlie Munger, the billionaire investing legend who led Berkshire Hathaway alongside Warren Buffett, died Tuesday at age 99. Despite being overshadowed by Buffett, Munger wasn't afraid to share his opinion. Speakers include Vice President Kamala Harris, President of Taiwan Tsai Ing-wen, Elon Musk, Bob Iger, Jamie Dimon, Lina Khan, Shonda Rhimes, and other major execs.
Persons: Charlie Munger, Charlie Munger Johannes Eisele, Berkshire Hathaway, Warren Buffett, Munger, I'm, Buffett, Munger's, they'd, Charles Platiau, Frederic J . Brown, Chelsea Jia Feng, Wall, Peacock, Kamala Harris, Taiwan Tsai Ing, Elon Musk, Bob Iger, Jamie Dimon, Lina Khan, Shonda Rhimes, Costco Monica Humphries, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Getty, Berkshire, Berkshire Hathaway, SevenSix Agency, Delta Air Lines, Toyota, Gucci, Google, Wall, Rockefeller, NBC, The New York Times, Taiwan, Costco Locations: Wisconsin, What's, AFP, California, Omaha, Omaha , Nebraska, Berkshire, Charles, Kensington, Chelsea, New York City, San Diego, London, New York
Charlie Munger, the investing legend, once advised Warren Buffett to live life backwards. Think about what you want your obituary to say, and work towards it, Munger advised Buffett, he told CNBC. AdvertisementCharlie Munger, Warren Buffett's right-hand man at Berkshire Hathaway, once advised the CEO to think about what he'd want his obituary to say, then live life according to it, CNBC reported Tuesday . Munger told Buffett "he should write his obituary the way he wants it written, and then live his life accordingly," Quick said. In a recent unaired interview with Quick, Munger commented on the advice and said "It's not a bad idea" to start at the end and work backward.
Persons: Charlie Munger, Warren Buffett, Munger, Buffett, , Warren Buffett's, he'd, CNBC's Becky Quick, Quick, It's, Berkshire Hathaway, Warren Organizations: CNBC, Service, Berkshire Hathaway, Berkshire Locations: California, Omaha
Investing legend Charlie Munger gave an interview to CNBC shortly before his death at age 99. Munger said he lived in the same house for decades even as his rich friends upgraded. Munger, who died at age 99 on Tuesday, discussed that decision in an interview with CNBC that occurred shortly before his death. "Warren and I both live in the same house for decade after decade after decade, and all our friends get rich and build bigger and better houses," Munger said. Despite amassing an estimated net worth of $2.3 billion in his lifetime, Munger lived modestly, even driving his own car, Reuters reported.
Persons: Charlie Munger, Munger, , Warren Buffet, it'd, Berkshire Hathaway, Warren, Nancy Munger, Duke, Becky Quick Organizations: CNBC, Service, Berkshire, Reuters Locations: Westchester
Shares of Berkshire Hathaway barely budged on Wednesday, a day after its vice chairman, Charlie Munger, died, reflecting the view among shareholders that Mr. Munger’s absence on the conglomerate’s day to day would have little impact on its future, even as they mourned the loss of the man who helped shape Berkshire’s culture. Mr. Munger, who helped build Berkshire into a global investing powerhouse, died at a California hospital on Tuesday morning, according to an announcement from Berkshire. He was just over a month short of his 100th birthday. Warren Buffett, the chairman and chief executive of Berkshire Hathaway, who built the company over decades with Mr. Munger’s steering, said it was his partner’s “inspiration, wisdom and participation” that had proved vital to Berkshire’s success. “Berkshire Hathaway could not have been built to its present status without Charlie,” Mr. Buffett said.
Persons: Berkshire Hathaway, Charlie Munger, Munger, Warren Buffett, Charlie, ” Mr, Buffett Organizations: Berkshire Locations: Berkshire, California
Stock Market Today: What's Next for Berkshire Hathaway
  + stars: | 2023-11-29 | by ( ) www.wsj.com   time to read: +1 min
The yield on the benchmark 10-year U.S. Treasury note fell below 4.3% Wednesday, a significant level when considering where it started the month—hovering above 4.8%. This comes a day after a formerly hawkish Fed official endorsed an extended pause on rate moves. Investors are also digesting Tuesday’s death of Berkshire Hathaway titan Charlie Munger . Contracts tied to the S&P 500, Dow industrials and Nasdaq-100 each ticked up modestly. The benchmark S&P 500 is on pace to end November with its best month since July 2022.
Persons: Berkshire Hathaway, Charlie Munger, Dow, Gold, Hang Seng, Organizations: Treasury, Fed, Dow industrials, Nasdaq, Futures, Hormel Foods Locations: Europe, Berkshire, Asia, Hong
These reflections on his life and career, which he wrote for CNBC Make It, are among his final writings. One's journey to career satisfaction is not always linear. I started investing in stocks, businesses and property development before starting a law firm with some of my colleagues. I have three basic rules for career satisfaction that have always helped me. While meeting all three is nearly impossible, you should try anyway.
Persons: Charlie Munger, I, Warren Buffett, Warren Organizations: CNBC, Harvard Law School Locations: California, Omaha
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
Morning Bid: Vale Charlie Munger
  + stars: | 2023-11-29 | by ( ) www.reuters.com   time to read: +2 min
Vice-Chairman of Berkshire Hathaway Corporation Charlie Munger speaks to Reuters during an interview in Omaha, Nebraska May 3, 2013. The union of Munger and Warren Buffett is among the most successful in the history of business, transforming Berkshire Hathaway into a multi-billion dollar conglomerate. Often handy with a one-liner Munger summed up his fame in 2010: "I think part of the popularity of Berkshire Hathaway is that we look like people who have found a trick," he said. Two-year Treasury yields fell to a four-month low just below 4.70%. Ten-year Treasury yields hit a two-month low of 4.28%.
Persons: Charlie Munger, Lane, Tom Westbrook, Warren Buffett, Berkshire Hathaway, Munger, Christopher Waller, Waller's, China's stockmarkets, Sam Holmes Organizations: Berkshire Hathaway, Reuters, REUTERS, Investors, Swiss, greenback, Spanish CPI, Thomson Locations: Omaha , Nebraska, Munger, Berkshire, Asia, New, Spanish
Charlie Munger died at the age of 99 on Tuesday. The Berkshire Hathaway vice-chairman became an investor after meeting Warren Buffett at a dinner party. AdvertisementCharlie Munger, the vice-chairman of Berkshire Hathaway and Warren Buffett's righthand man, died at the age of 99 on Tuesday. "Berkshire Hathaway could not have been built to its present status without Charlie's inspiration, wisdom and participation," Buffett said in a press release. Munger was a successful lawyer before Buffett convinced him to try out finance, and then to join Berkshire Hathaway in 1978.
Persons: Charlie Munger, Warren Buffett, , Berkshire Hathaway, Warren Buffett's, Buffett, Munger, didn't Organizations: Berkshire Hathaway, US Army Air Corps, Service, Berkshire Locations: Omaha , Nebraska
Charlie Munger once said that Elon Musk "likes taking on the impossible job and doing it." But the late Munger said he and Warren Buffett didn't want to emulate Musk's lifestyle. Munger, Warren Buffett's longtime business partner, died at 99 on Tuesday. We have a wholly different way of going about life," Munger said. "Appreciate the kind words from Warren and Charlie," Musk wrote in response to a video of Buffet's and Munger's comments back in May.
Persons: Charlie Munger, Elon, Munger, Warren Buffett, , Warren Buffett's, Warren, Buffett, Bill Maher, It's, s8NdiI5WcL — Sawyer Merritt, Charlie, Musk, Berkshire Hathaway, Duke Organizations: SpaceX, Service, Musk, Elon, Berkshire, CNBC, Business Insider Locations: Munger, Berkshire, Westchester
Investors betting on a soft landing for the U.S. economy received another morsel of good news on Wednesday. Fresh data showed that the U.S. economy grew at a 5.2% annual rate , the fastest quarterly growth rate since late 2021, when the country was listing Covid-19 restrictions. Hopes that the U.S. economy can avoid a recession--and that the Federal Reserve will slash interest rates next year --have been rippling through global markets. Stocks are rising in early trading, continuing a weekslong winning streak. Now solidly below 13, the VIX is trading near its lowest levels of this year.
Persons: Charlie Munger, Dow, , Salesforce Organizations: Federal, Berkshire Hathaway, Dow industrials, Nasdaq, Gold, Futures Locations: U.S
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
Charlie Munger died Tuesday at the age of 99. He said, however, that he probably wouldn't go after that particular dream at his old age. I never caught one," Munger told Quick in an interview filmed right before his 100th birthday. Advertisement"I am very good at recognizing unfair advantages, and I got unfair advantages at old age in the way I got an unfair advantage in not old age. While at Berkshire Hathaway , Munger served as vice-chairman alongside CEO Warren Buffett.
Persons: Charlie Munger, , Becky Quick, Munger, Quick, Price, You've, Berkshire Hathaway, Warren Buffett, CNBC's, Buffett, We've Organizations: Service, CNBC, Berkshire, Berkshire Hathaway Locations: California
Genetics likely played a large part in his health, an aging expert told Business Insider. Munger was a fan of donuts (in moderation), peanut brittle , and Diet Coke, and he avoided exercise as best he could, he said. "I'm eating this good peanut brittle," he told CNBC during an interview in February 2023. Munger favored peanut brittle by See's Candy, which is owned by Berkshire Hathaway. AdvertisementThe only exception to that was when he served in the US Army Air Force for three years and had to exercise, Munger said.
Persons: Charlie Munger, Berkshire Hathaway, Munger wasn't, , Warren Buffett, Munger, Forbes, Coke, Hilary Brueck, Charlie Munger's, Candy, Charlie, Brue, I've, Dawn Skelton, Skelton Organizations: Berkshire, Service, Associated Press, CNBC, Moor, Research, US Army Air Force, Glasgow Caledonian University Locations: SuperAging, Zoomtopia, Scotland
Charlie Munger, who passed away Tuesday at the age of 99, had a last big call on AI: it's overhyped. It was counterintuitive, but his last big call could be right: AI is overhyped. Google has now rolled the lab in with another AI division, Google Brain, and no longer explicitly breaks out financials. AI has still to prove out its caseFinally, there's the big question of whether the technology will deliver on its big promises. OpenAI's Altman and other AI CEOs talk very publicly about AI as smart as humans being on the horizon.
Persons: Charlie Munger, , Warren Buffett, Munger, ChatGPT, OpenAI's, Sam Altman, Altman, There's, OpenAI's Altman, Michael Chabon Organizations: Service, Apple, Costco, Oracle, Microsoft, Ferrari, British, Tobacco, Dell, Google, DeepMind Locations: Berkshire, Omaha, Silicon Valley
[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
Listen now: Truce talks and Netanyahu’s future
  + stars: | 2023-11-29 | by ( ) www.reuters.com   time to read: 1 min
Listen on the Reuters app. All eyes are on Qatari mediators as the world waits to see if they can broker another truce extension in Gaza. Ukraine says the wife of their top spymaster has been poisoned. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. Further ReadingIsraeli, U.S. spy chiefs meet Qatari PM to discuss 'building on' Gaza truce - sourceMuslims in Europe feel vulnerable to rising hostility over Israel-GazaAfter Munger's death, Berkshire succession comes into focusOur Standards: The Thomson Reuters Trust Principles.
Persons: Nikki Haley Organizations: Apple, Google, Reuters, Thomson, Reading, Qatari Locations: Gaza, Israel, Ukraine, U.S, Europe, Berkshire
Warren Buffett named Greg Abel, 61, as his successor at Berkshire Hathaway back in 2021. Abel started out as an accountant, before taking the reins as CEO of Berkshire Hathaway Energy. The Canadian businessman is currently chair of Berkshire Hathaway Energy and vice chair for non-insurance operations at Berkshire Hathaway. Abel took over the reins of MidAmerican in 2008, which was renamed Berkshire Hathaway Energy in 2014. Abel's tenure as Berkshire Hathaway Energy's CEO would last for two decades until he stepped down in 2018.
Persons: Warren Buffett, Greg Abel, Abel, Charlie Munger's, , Berkshire Hathaway, Buffett, Greg who'd, CNBC's Becky Quick, Charlie Munger, Berkshire acolyte Abel, CalEnergy, Warren Buffett Abel, Greg, Munger, He's, Warren Organizations: Berkshire Hathaway, Berkshire Hathaway Energy, Service, Berkshire, CNBC, University of Alberta, mater's, PricewaterhouseCoopers, MidAmerican Energy, doer, Directors, Business Insider Locations: Berkshire, Canadian, MidAmerican, Munger
Warren Buffett is arguably the most celebrated investor of our generation, but he couldn't have earned the title without Charlie Munger's influence. Munger, Berkshire Hathaway's vice chairman who passed away Tuesday at the age of 99, was instrumental in directing a young Buffett into buying strong-brand quality companies instead of dirt-cheap failing names that he called "cigar butts." The blueprint Munger instilled in Buffett was simple: To buy a wonderful business at a fair price, not a fair business at a wonderful price. In 1972, Munger convinced Buffett to sign off on Berkshire's purchase of See's Candies for $25 million even though the California candy maker had annual pretax earnings of only about $4 million. "Overall, we've kept moving in the direction of better and better companies, and now we've got a collection of wonderful companies, Buffett said.
Persons: Warren Buffett, couldn't, Charlie Munger's, Buffett, Munger, Charlie Munger, Benjamin Graham, we've Organizations: Munger , Berkshire Hathaway's, Berkshire, Oracle, Columbia University Locations: Munger , Berkshire, Berkshire, Omaha, California
The late billionaire investor Charlie Munger loved Costco, and called himself a "total addict." "I wish everything else in America was working as well as Costco does," Munger said last year. AdvertisementWith the death of billionaire investor Charlie Munger on Tuesday, Costco is losing one of its most ardent fans. Munger famously declared himself a "total addict" of the company on whose board he served for more than a quarter century. "I love everything about Costco," Munger said last year.
Persons: Charlie Munger, Munger, , I'm, Craig Jelinek, Jelinek, Costco, they've, Berkshire Hathaway, Warren Buffett, Buffett Organizations: Costco, Service, CNBC, Berkshire Locations: America, Berkshire
Total: 25