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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
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
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
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
Billionaire and investing legend Charlie Munger died on Tuesday at the age of 99. "Berkshire Hathaway could not have been built to its present status without Charlie's inspiration, wisdom and participation," Buffett said in a statement. Munger was already a wealthy man by the time he joined Buffett at Berkshire Hathaway, and went on to grow his fortune to an estimated $2.3 billion by early 2023. : Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger." Buffett and Munger both got rich making concentrated investments in individual companies, and Munger, in particular, scoffed at financial professionals who spread their bets across an array of names.
Persons: Charlie Munger, Berkshire Hathaway, Warren Buffett's, Buffett, Munger, it's Organizations: Berkshire, Oracle, Berkshire Hathaway, University of Southern California Law, Daily Journal Corporation Locations: Omaha, Munger, Berkshire
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
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCharlie Munger will be remembered for his philanthropy and integrity, says Barbara GoodsteinBarbara Goodwin, Managing Partner at R360, discusses Charlie Munger's passing and the road ahead for Berkshire Hathaway.
Persons: Charlie Munger, Barbara Goodstein Barbara Goodwin, Charlie Munger's, Berkshire Hathaway Organizations: Berkshire
Charlie Munger, Warren Buffett's right-hand man at Berkshire Hathaway, died on Tuesday at age 99. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . "Charlie Munger once offered what I consider to be the best life advice one can receive: 'How to find a good spouse? Still, others praised the former vice chairman of Berkshire Hathaway for his lifelong advocacy of education and philanthropy, with multiple users calling Munger a legend and "financial genius."
Persons: Charlie Munger, Warren Buffett's, Berkshire Hathaway, , Charlie Munger's, @WarrenBuffett, Mohamed, Charlie, — Mohamed, Munger, Nancy Barry, Sahil Bloom, William Green Organizations: Berkshire, Service, Berkshire Hathaway Locations: Munger, LA
AdvertisementCharlie Munger, the vice chairman of Berkshire Hathaway and Warren Buffett's decades-long business partner, died on Tuesday in California. Munger joined Buffett at Berkshire Hathaway in 1978, where he served as Buffett's second-in-command for decades. "His idea of traveling in style is an air-conditioned bus, a luxury he steps up to only when bargain fares are in effect," Buffett wrote of Munger. "Naming the plane has not been easy," Buffett wrote. And later on, in the same 1989 letter to the company's shareholders, Buffett wrote about a valuable piece of investment advice Munger shared with him.
Persons: Charlie Munger, Warren Buffet's, Munger, Buffett, , Berkshire Hathaway, Warren Buffett's, Nati, Charles T, Thomas, Charlie Organizations: Service, Berkshire, Buffett, Berkshire Hathaway, Forbes, Berkshire Hathaway's Locations: California, Munger, Berkshire
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
Berkshire Hathaway vice chairman Charlie Munger has died at 99. Munger was known for his pragmatic life advice, including tips for longevity. AdvertisementCharlie Munger, vice chairman of Berkshire Hathaway and right-hand man to Warren Buffett, died Tuesday. To remain cheerful, Munger said that it's key to let go of negative emotions. Buffett also credited Munger with the success of Berkshire Hathaway, saying it was "built to Charlie's blueprint."
Persons: Charlie Munger, Munger, , Berkshire Hathaway, Warren Buffett, Forbes —, Still, Warren Buffet, Buffett, Candy Organizations: Berkshire Hathaway, Service, Berkshire, CNBC, Harvard, Daily Locations: Omaha, Munger munched
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
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
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
Charlie Munger, vice chair of Berkshire Hathaway and second-in-command to Warren Buffett, is dead at 99. With Munger's death, Greg Abel may have a closer working relationship with Buffett. AdvertisementCharlie Munger, also known as Warren Buffett's right-hand man, died Tuesday at 99 — leaving open the role of vice chair of Berkshire Hathaway. Munger served as the 93-year-old Buffett's second-in-command for years, amassing a net worth of nearly $2.3 billion while overseeing Berkshire Hathaway. He was named CEO of MidAmerican — now Berkshire Hathaway Energy — in 2008 and was named vice chairman of non-insurance operations for all of Berkshire Hathaway in 2018, securing himself a role on the conglomerate's board of directors that same year.
Persons: Charlie Munger, Berkshire Hathaway, Warren Buffett, Greg Abel, Buffett, Abel, , Warren Buffett's, Munger, Greg, He's, Warren, CalEngery, MidAmerican, Pat Egan, Egan, Troy Bader, Bader Organizations: Service, Berkshire, Berkshire Hathaway Energy, doer, PricewaterhouseCoopers, Dairy Locations: Berkshire, Canadian, MidAmerican —, Omaha
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
Buffett recently has given college kids advice for finding a job when they graduate from college. As for Munger, who died at 99, he previously said a key lesson to life is cutting out toxic people. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementWarren Buffett, the billionaire investor, has had some advice for college students who want a fulfilling career: Don't think about the money. AdvertisementBuffett started his first investing class 70 years ago and continued to work with students of all ages until 2018, he said in his letter.
Persons: Charlie Munger, Warren Buffett's, Buffett, Munger, , Warren Buffett, Berkshire Hathaway, he's, I've Organizations: Service, Apple, - Cola Company, BNSF Railway, University of Nebraska, Berkshire Hathaway Locations: Berkshire, Lincoln, Omaha
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
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
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
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
Charlie Munger wasn't just the vice chairman of Berkshire Hathaway : His partnership with billionaire Warren Buffett made him half of an iconic duo in the investing world. Watch the special lookback at Munger's life by CNBC's Becky Quick above. "I would say that every time I'm with Charlie, I've got at least some new slant on an idea that causes me to rethink certain things," Buffett once told Quick in an interview. "And we've had absolutely… so much fun with the partnership over the years." See CNBC's full obituary of Charlie Munger here.
Persons: Charlie Munger wasn't, Berkshire Hathaway, Warren Buffett, CNBC's Becky Quick, Charlie, I've, Buffett, we've, Munger, Charlie Munger Organizations: Berkshire
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
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