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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
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
Today, Berkshire Hathaway is massive conglomerate worth north of $785 billion with businesses and investments all around the world. "I did not think we'd ever have … so many hundreds of billions in Berkshire," Munger, the former vice chairman of Berkshire, said in his final interview with CNBC's Becky Quick just a few weeks before passing away at the age of 99. "It was an amazing occurrence," said Munger in bits of the interview aired by CNBC on Tuesday evening. Munger attributed the success of he and Buffett, 93, to two reasons. In addition, we were given much longer time to run than most people, because something kept us alive in our 90s.
Persons: Berkshire Hathaway, Charlie, Munger, CNBC's Becky Quick, Buffett Organizations: CNBC, Apple, American Express Locations: Berkshire
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
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
Berkshire Hathaway Vice Chairman Charlie Munger, who died Tuesday at age 99, once offered what turned out to be sage advice to his buddy and investment legend Warren Buffett: live life backwards. Munger years ago told the somewhat younger Buffett, 93, how he should live his life, according to CNBC's Becky Quick, speaking on CNBC's "Closing Bell: Overtime." Munger told Buffett, "he should write his obituary the way he wants it written, and then live his life accordingly," Quick said. "Look at things, and live backwards."
Persons: Charlie Munger, Warren Buffett, Munger, Buffett, Becky Quick, Quick Organizations: Berkshire Hathaway
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
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
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 EmailCharlie Munger in final CNBC interview: You've got to learn how to recognize rare opportunities when they comeCNBC's Becky Quick joins '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: Charlie Munger, You've, Becky Quick, Warren Buffett, Munger Organizations: CNBC
Charlie Munger Tributes Roll In
  + stars: | 2023-11-28 | by ( Wsj Staff | ) www.wsj.com   time to read: 1 min
Investors and others shared comments about the legacy of Charlie Munger after the investor and longtime confidant of Warren Buffett died Tuesday at age 99. Read some of Buffett's comments about Munger over the years here.
Persons: Charlie Munger, Warren Buffett, Read, Munger
(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.
Persons: Charlie Munger, Warren Buffett, Berkshire Hathaway, ” Buffett, Munger, Buffett, “ Charlie, Buffett’s, Ben Graham, ” Munger, ” Edward Jones, Jim Shanahan, Cathy Seifert, ” Seifert, didn’t, Charles T, See’s Candy, it’s, , Investor Whitney Tilson, Tilson, you’ve, ” Tilson, hadn’t, Josh Funk Organizations: Daily Journal Corp, Wall Street Journal, CNBC, Columbia University, Berkshire Hathaway, BNSF, Apple, CFRA, Buffett, Buffalo News, Wesco, Investor, University of Michigan, Army Air Corps, Harvard University, Harvard, Westlake, Stanford University Law School, Huntington Library, Samaritan Hospital, Westlake School, Costco Wholesale Corp Locations: OMAHA, Neb, Berkshire, California, New England, Los Angeles, Pasadena, Munger, Omaha , Nebraska, Omaha, Southern California, ,
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
Berkshire Hathaway Vice Chairman Charlie Munger dead at 99
  + stars: | 2023-11-28 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBerkshire Hathaway Vice Chairman Charlie Munger dead at 99'Closing Bell Overtime' breaks news that Warren Buffett's longtime business partner Charlie Munger has died at the age of 99.
Persons: Berkshire Hathaway, Charlie Munger, Warren Buffett's Organizations: Berkshire
[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
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
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
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
Morgan Housel(Note: Morgan Housel will be on HalfTime Report today at 12:35 PM ET and on ETF Edge at 1:10 PM. To give you an idea of how big that is, a typical financial book will sell roughly 5,000 copies. Now Housel is back with a second book, "Same As Ever: Timeless Lesson on Wealth, Greed and Happiness." Housel cites Charlie Munger, who noted that the world isn't driven by greed, it's driven by envy. Today's economy is good at generating three things: wealth, the ability to show off wealth, and great envy for other people's wealth."
Persons: Morgan Housel, Twain, Bill Gates, Gates, Morgan, Housel, Charlie Munger, Nassim Taleb, Elon Musk, Steve Jobs, Walt Disney, Organizations: Collaborative Fund, Edge, Lakeside High School, National War Labor Board, Rolex Locations: Seattle, California
With a name like the Needham Aggressive Growth Fund, you'd be forgiven for assuming portfolio manager John Barr hunts for growth at any cost. So yes, it's growth investing informed by value investing." The Needham Aggressive Growth Fund has returned over 25% year-to-date according to Morningstar, making it the best-performing small-cap fund on the market. Barr, a one-time software salesman turned investing pro, told Business Insider what he looks for in his investments, the market themes he's watching, and his favorite stock picks right now. But it's Barr's primary investment criteria that sets him apart from other growth-focused fund managers: finding "hidden-to-quality compounders."
Persons: you'd, John Barr, Barr, that's, Charlie Munger, Warren Buffett, Morningstar, I've, there's, , they've Organizations: Berkshire Hathaway, Business, Fund, Micro, Google, Vishay, Vishay Group, Parsons Corporation, Missile Defense Agency, Department of Defense
More than half of tech workers say that AI is overrated, a 2023 Retool report found. More than half of the tech workers surveyed — 51.6% of respondents — say that AI is overrated, the researchers found. Respondents who find AI to be overrated, Hsu said, don't feel like they can totally rely on AI at its current state. AdvertisementEven though some tech workers are skeptical of AI, only 14.4% of those who deemed AI to be fully overrated said their employers were over-investing in the technology. Retool's findings on AI come as workers across tech use AI tools like ChatGPT to write code, analyze data, and troubleshoot bugs.
Persons: , David Hsu, Retool, haven't, Hsu, Charlie Munger, It's Organizations: Service, Workers Locations: American
He started with an "index-first strategy," he told Insider, and invested up to 80% of his earnings into low-cost index funds in the early 2010s. While index funds are ultimately what catapulted him to financial independence in the first place, he wouldn't necessarily go that route if he had to start from scratch today. "I'm still very pro low-cost index funds for almost everyone," he said. Lower returns mean index funds won't grow as much, and investors potentially have to save and contribute more to hit their goals. "I think business ownership is really where it's going to be for the next 10 to 20 years."
Persons: Grant Sabatier's, Sabatier, Charlie Munger, you've, boomer Organizations: Business, Fidelity, Federal Reserve, FedEx, SBA, Chase, Bank of America Locations: Morningstar
Berkshire Hathaway Vice Chairman Charlie Munger pushed back against a report that alleged his partner Warren Buffett at times traded stocks in his personal account before the conglomerate made moves in the same securities. "I don't think there's the slightest chance that Warren Buffett is doing something that is deeply evil to make money for himself. In a Nov. 9 article, ProPublica reported that Buffett on at least three occasions made personal trades in a stock shortly before or in the same quarter that Berkshire did. The ProPublica report said Buffett made at least $466 million in personal stock sales between 2000 and 2019. A securities filing from August showed Buffett owns more than 200,000 Berkshire Hathaway A shares, a position worth more than $100 billion.
Persons: Charlie Munger, Warren Buffett, CNBC's Becky Quick, Buffett, Munger, ProPublica Organizations: Berkshire Hathaway, Berkshire, CNBC, CNBC PRO Locations: Munger, Berkshire
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCharlie Munger on Warren Buffett: He cares more about what happens to Berkshire than his own moneyCNBC's 'Squawk Box' crew discuss Charlie Munger's comments in response to a ProPublica report detailing how Berkshire Hathaway chairman and CEO Warren Buffett traded stocks in his own portfolio before Berkshire's trades in the same stocks were made public on three occasions over a period of almost two decades.
Persons: Charlie Munger, Warren Buffett, Charlie Munger's Organizations: Berkshire Hathaway Locations: Berkshire
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