Huggins and Charlie Munger had two children: Molly and Wendy Munger. When referencing his time with Buffett, Munger told "Poor Charlie's Almanack" editor Peter Kaufman: "I have been incredibly fortunate in my life.". A few years later, in 1953, Charlie was 29 years old when he and his wife divorced. Notably, Munger announced a donation of $200 million to the school in 2016. In 2007, Munger made a $3 million gift to the University of Michigan Law School for lighting improvements in Hutchins Hall and the William W. Cook Legal Research Building, including the noted Reading Room. In time, Charlie Munger bounced back from tragedy, remarried, and ended up raising six children and two stepchildren. 1999 was the last year that Berkshire disclosed Sees results as a separate business segment. Although Charlie Munger often minimizes his role in leading Warren Buffett away from cigar butt investing and toward commitments to high quality companies, the truth is that Mr. Mungers role is simply undeniable. After posting a 73.2% return in 1975, the partnership shut down. Shortly after the divorce, Charlie learned that his son, Teddy, had leukemia. Today, he is worth billions of dollars. [4] He then gave up the practice of law to concentrate on managing investments and later partnered with Otis Booth in real estate development. This led to an unpleasant investigation of the tangled web of ownership between Berkshire, Diversified Retailing, Blue Chip, and Wesco that was eventually settled for $115,000. I met the towering intellectuals in books, not in the classroom, which is natural. [49] Munger designed the residence, which houses 600 single bedrooms, most of which are designed to be windowless. Some of his curiosity must be innate, but the environment cultivated by Mr. Mungers parents no doubt set him on the right path. The six of them became family and things started looking up. An 85-year Harvard study found the No. Munger has been a trustee of the Harvard-Westlake School in Los Angeles for more than 40 years, and previously served as chair of the board of trustees. Munger exchanged wedding vows with Nancy Barry in 1956. As of 2019, his net worth is estimated at US$1.9 billion. In 1962, he became a founding partner of Munger, Tolles & Olson LLP, where he served as a real estate attorney. The renovated portion of the Lawyers Club will be renamed the Charles T. Munger Residences in the Lawyers Club in his honor. "[4] He also used a card analogy to explain an approach to stock trading. And they're so trite.". Weve Chosen Carol Benson-Cobb Works for Kennon-Green & Co. Nintendos Metroid Dread Blows Out Franchise Sales Figures. Munger also acknowledges life can be "brutally hard" in "Poor Charlie's Almanack" and offers three things he found helpful when times get tough: Munger gets through life day by day, step by step. However, the team said that modifications to the design based on feedback represent a meaningful challenge and will require thoughtful consideration.. He remained in college through 1942 and then enlisted in the military where he scored highly on aptitude tests and was sent to Cal Tech to study meteorology before being assigned to a weather station in Alaska. Copyright Joshua Kennon. Although it took years, ownership interests in all of the firms were eventually consolidated into Berkshire Hathaway. In the Tupperware party, you have reciprocation, consistency and commitment tendency, and social proof. He used this in his approach to business. In addition, there is an extensive archive of articles related toBerkshire Hathaway. A Look Inside Our Life as We Set Out to Make 2021 Incredible. "Spend each day trying to be a little wiser than you were when you woke up. Source:Damn Right!,Appendix A, page 251. Great investing requires a lot of delayed gratification. In the decade after meeting Warren Buffett, Charlie Munger became a participant in a series of meetings with disciples of Benjamin Graham. []The Wheeler, Munger investment partnership operated from 1962 to 1975 and posted an average annual return of 24.3% vs. 6.4% for the Dow Jones Industrial Average. The combination of real estate activities and his investment partnership3allowed Mr. Munger to give up the practice of law in 1965 after starting a firm that still bears his name today.4 The website contains over a thousand articles covering topics ranging frompersonal financeandinvestingtobook reviewsandphilosophy. 1. With the Lollapalooza effect, itself a mental model, the result is often extreme, due to the confluence of the mental models, biases or tendencies acting together, greatly increasing the likelihood of acting irrationally. The men quickly connected and realised that they both had been employed as teenagers by Buffetts grandfather at his grocery store. He is also chairman of the Daily Journal Corporation, based in Los Angeles, California, and a director of Costco Wholesale Corporation. Unwritten Chapters They were married until her death on February 6, 2010. Charlie Munger, vice chairman of Berkshire Hathaway. The Omaha connection and shared background no doubt had a role in the two hitting it off immediately and talking for hours at the dinner party. Mr. Munger enrolled in college in the fall of 1941 shortly before the Pearl Harbor attack upended American life. I read this book several years ago although I have not yet written a book review. Berkshire Hathaway (BRK.A, BRK.B) Vice Chairman Charlie Munger has boosted his personal stake in Chinese internet giant Alibaba (BABA), buying an additional 300,000 shares, according to. [1] His father, Alfred Case Munger, was a lawyer. An 85-year Harvard study found the No. Don't miss: Chase Sapphire Preferred is offering a massive 80,000-point bonus for a limited time, Get Make It newsletters delivered to your inbox, Learn more about the world of CNBC Make It, 2023 CNBC LLC. and will be of interest to readers who follow the company. By the time he was 69 years old, he had become one of the richest 400 people in the world, been married to his second wife for 35+ years, had eight wonderful children, countless grandchildren, and become one of the most respected business thinkers in history. Source: Sees Candies was purchased by Blue Chip Stamps, a company that Buffett and Munger controlled which eventually merged into Berkshire Hathaway in 1983. Charles Thomas Munger (born January 1, 1924) is an American investor, businessman, and philanthropist. A summary of checklists in the appendix is also useful. [6] When he applied to his father's alma mater, Harvard Law School, the dean of admissions rejected him because Munger had not completed an undergraduate degree. [57][58] In October, 2021, Munger's insistence that the university follow his design compelled professional architect, Dennis McFadden, who had served the university for two decades, to resign from the university's Design Review Committee. These questions are difficult to answer. I read this book several years ago although I have not yet written a book review. At this point, he had almost no money, lived in dreadful bachelor digs, and drove a beat up yellow Pontiac with a cheap paint job. After decades of strict family planning policies, including its one-child policy, which started in 1980 and lasted 35 years, China is now trying to stave off a demographic crisis marked by too. According to Charlie Munger, during his time in college and the army, he learned a very important skill, playing cards. A block of stock accounting for 8% of Wesco was purchased by Blue Chip for $2 million. Psychological and social factors serve as complications for investors seeking to invest in declining companies, often referred to as "cigar butts". When Mr. Munger heard about the Buffett investment partnerships, he set up a partnership of his own. After posting a 73.2% return in 1975, the partnership shut down. "[21] During an interview and Q&A session at Harvard-Westlake School on January 19, 2010, Munger referred to American philosopher Charles Frankel in his discussion on the financial crisis of 200708 and the philosophy of responsibility. The biography had atransformational effecton my life but the focus of the book was not on Charlie Munger. It took my attendance at the 2000 Berkshire Hathaway annual meetingto get a senseof Mr. Mungers personality, intellect, and character. Munger exchanged wedding vows with Nancy Barry in 1956. The story of how Charlie Munger and Rick Guerin acquired control of Daily Journal is covered inDamn Right! Even after all this time, Munger and Buffett genuinely enjoy each other's company. In 1959, Charlie Munger and Warren Buffett were introduced by mutual friends at a dinner party. Warren Buffett's partner Charlie Munger shares his advice for living a rich and successful life At 95, Charlie Munger is best known for his steady role as the right-hand man of investing. [69][70] Munger repeated his sentiments in another interview, praising Singapore's single payer system in contrast to the U.S. "insane" system which is a "national disgrace". I was then 28 and he was 35. You can, too. As a professional working for clients, Mr. Mungers income was correlated with his personal expenditure of time and he sought sources of income and wealth that could compound more rapidly. When the merger was defeated, Wesco shares fell and Blue Chip moved to acquire control. Charlie Munger made headlines last year when news broke that he had designed a massive dorm building with almost no windows that could house 4,500 students. What started as an informal partnership was cemented into a formal role at Berkshire that continues to this day. The world is full of foolish gamblers, and they will not do as well as the patient investor. All Rights Reserved. Subscribe here. Charlie Munger was married to his first wife, Nancy Huggins, from 1945 to 1953. They had four children: Charles T. Munger Jr., Emilie Munger Ogden, Barry A. Munger, and Philip R. Munger. My family was into all that stuff, getting ahead through discipline, knowledge, and self-control.. That is, on the relatively few occasions when he had something to add to Mr. Buffetts commentary. His desire to arrange financial affairs so as to never go back to go has depression-era roots.2. Munger believes that holding a concentrated number of stocks that he knows extremely well will in the long term produce superior returns. Klicken Sie auf Einstellungen verwalten um weitere Informationen zu erhalten und Ihre Einstellungen zu verwalten. At 95, Charlie Munger is best known for his steady role as the right-hand man of investing legend Warren Buffett. Allrightsreserved. The Omaha connection and shared background no doubt had a role in the two hitting it off immediately and talking for hours at the dinner party. The meeting will not have an in-person audience and will bewebcastby CNBC with questions asked by Becky Quick. After completing five projects, Mr. Munger had $1.4 million as a result of real estate activities by the late 1960s. In 2000, Janet Lowe publishedDamn Right!, the only book about Mr. Munger that can be called a traditional biography. He did it. [4], Through the GI Bill Munger took a number of advanced courses through several universities. The secret is "easy, because it's so simple," Munger told Quick. Further Reading By 1953, he had three children and was going through a divorce. "What you have to learn is to fold early when the odds are against you, or if you have a big edge, back it heavily because you don't get a big edge often. Questions may be submitted to CNBC at DailyJournalQuestions@CNBC.com. He's been Warren Buffett's right-hand man for the last 40 years, and is more formally known as vice chairman of Berkshire Hathaway. The next year, Mr. Mungers son, Teddy, was diagnosed with leukemia, a disease that had no treatment at the time. She was a Pasadena native who had been Munger's sister's roommate at Scripps College. After the war, a family friend helped Mr. Munger gain admittance to Harvard Law School even though he did not have a college degree. In addition, he went into real estate development in the Los Angeles area with Otis Booth, an endeavor that required personal attention but proved to be highly remunerative. Would Warren Buffett have spent his life searching for cigar-butt stocks, never expanding into better business if he had not been introduced to Charlie Munger? This was despite the fact that the 1973-74 bear market was brutal for the partnership with a loss of 31.9% in 1973 and 31.5% in 1974, far in excess of the DJIAs decline of 13.1% and 23.1%, respectively. During World War II, he did his military service with the US Army Air Corps. In 2004, the Mungers donated 500 shares of Berkshire Hathaway Class A stock, then valued at $43.5 million, to Stanford to build a graduate student housing complex. 2. There might be nothing wrong with sending invoices for legal work, but Mr. Munger found it distasteful. Though Munger has no formal architectural training, he has contributed heavily to numerous building designs, including dormitories at Stanford University and the University of Michigan, as well as his current home. Most intriguingly, Mr. Munger has been very active at Daily Journal Corporation, a company unrelated to Berkshire Hathaway that Iwrote about recently. [26][27], Munger is famous for his quote "All I want to know is where I'm going to die, so I'll never go there." Or would he have remained in the legal profession, perhaps with a few real estate side projects? Behind the Scenes with Charlie Munger, Click to email a link to a friend (Opens in new window), Click to share on Twitter (Opens in new window), Click to share on Facebook (Opens in new window), Click to share on LinkedIn (Opens in new window), Click to share on Reddit (Opens in new window), Click to share on Skype (Opens in new window), Click to share on Pinterest (Opens in new window), Click to share on Telegram (Opens in new window), Click to share on Tumblr (Opens in new window), Click to share on Pocket (Opens in new window), Click to share on WhatsApp (Opens in new window). A traditional midwestern upbringing during the Great Depression is a big part of Charlie Mungers life experience. Nancy Barry Munger died in 2010. So to Charlie Frankel, you don't create a loan system where all the people who make the loans promptly dump them on somebody else through lies and twaddle, and they don't bear the responsibility when the loans are good or bad. Charlie Munger was married to his first wife, Nancy Huggins, from 1945 to 1953. In response to the panels findings, the team responsible for the project said in a statement that its actively working to add additional windows where its possible and add additional ventilation shafts that will allow greater airflow. Elon Musk is losing the plot by making basic security a paid feature on Twitter. Charlie Munger: The Complete Investorby Tren Griffin. Unlike Franklins experience, there was nothing Mr. Munger could have done to help his son survive leukemia given the medical technology of the 1950s. The book was published at a time when Berkshire was increasingly out of favor with investors as the dot com boom reached its crescendo in the late 1990s. They never met at the time, as Munger is six years older than the other man. He attributes their success to Buffett's ability to learn. Warren Buffett's business partner slammed traders, blasted cryptocurrencies, and praised China. It is tempting to emulate investors who we admire but it is unwise to blindly follow any investor into a stock. Like this story? Charlie Munger started off his career working in a grocery store. is that it is now quite outdated. Following the chapters on Blue Chip Stamps and Wesco, the book covers events that are increasingly familiar to most readers who have followed the history of Berkshire Hathaway, including the rapid growth of the company throughout the 1980s and the transformation of the company in the 1990s with the General Re and GEICO acquisitions. The Rational Walkwebsite was founded by Ravi Nagarajan in 2009 who is the author of all its content. Well-managed expectations, according to Berkshire Hathaway ( BRK-A, BRK-B) Vice Chairman Charlie Munger. 9th cousin 1 time removed via John Greene Jr. 12th cousin 1 time removed via Adam Winthrop Jr. 10th cousin 1 time removed via Robert Royce, 8th cousin 2 times removed via Henry Cook, 9th cousin 1 time removed via John Evarts, 7th cousin 4 times removed via Robert Fuller, 8th cousin 2 times removed via Moses Rowley, 9th cousin 1 time removed via William Sabin, 9th cousin 1 time removed via Matthew Fuller, 6th cousin 2 times removed via Jonathan Hatch, 6th cousin 2 times removed via Moses Rowley, 7th cousin 3 times removed via Richard Wright, 8th cousin 1 time removed via Moses Rowley, 8th cousin 1 time removed via William Sabin, 8th cousin 2 times removed via John Cass, 16th cousin 1 time removed via Sir Humphrey Stafford. After Munger's divorce, he remarried within a couple of years. "Nevertheless, it was 1959 before I met Charlie, long after he had left Omaha to make Los Angeles his home. Celebrity kin for Charlie Munger include Jodie Foster, Kyra Sedgwick, Bill Paxton, and Elizabeth Montgomery. FamousKin.com cannot and does not guarantee the accuracy and reliability of these sources. "[30] He has also said the use of cryptocurrency should be banned and said it was "beneath contempt";[31] that bitcoin was "stupid, "immoral," and "disgusting" and that "'It's like somebody else is trading turds and you decide, 'I can't be left out'";[32] and that it was like a venereal disease,[33] among other things. Although he was well established in law, this was well before elite lawyers earned four figure hourly rates. At 31 years old, Charlie Munger was divorced, broke, and burying his 9 year old son, who had died from cancer. In addition, he went into real estate development in the Los Angeles area with Otis Booth, an endeavor that required personal attention but proved to be highly remunerative. [71][72], In his 50s, after a failed eye cataract surgery that rendered his left eye blind, Munger had his left eye removed due to severe pain. Young Charlie had a reputation for being a star student, but he could be challenging for teachers to deal with due to his fierce independence. Leo Tolstoy advocated serious efforts to leverage what we learn from others. This is the largest gift in the history of the school. These questions are difficult to answer. It is always preferable to locate primary records where possible. The Munger Hall design ignores this evidence and seems to take the position that it doesn't matter [T]he building is a social and psychological experiment with an unknown impact on the lives and personal development of the undergraduates the university serves."[46]. I highly recommend reading Charlie Mungers. He is vice chairman of Berkshire Hathaway, the conglomerate controlled by Warren Buffett. Its such a simple idea. This began a longstanding partnership that has lasted over six decades. This thinking was inspired by the German mathematician Carl Jacobi who often solved difficult problems by following a simple strategy: man mussimmer umkehren (or loosely translated, "invert, always invert. Feeling like a victim is a perfectly disastrous way to go through life. is not among the hundred-plusbook reviewsI have written since 2009 so it seemed appropriate to re-read the book and share a few thoughts on Charlie Mungers 99th birthday. Charlie lost everything in the divorce, his wife keeping the family home in South Pasadena. Headquartered in Pasadena, it was active in three primary categories: insurance, furniture rental, and steel service. Warren Buffett has demonstrated how shareholders can generate income from their Berkshire shares but investor psychology can be a major impediment. Lowe describes this episode in considerable detail and explains how it led to the untangling of the complex web. Charlie Munger, the 97-year-old billionaire who has been ridiculed for wanting to build a dormitory with thousands of windowless bedrooms at the University of California, Santa Barbara, came out swinging on Monday morning. When the merger was defeated, Wesco shares fell and Blue Chip moved to acquire control. If it didnt, he says, he doesnt know how the human race could continue. He was a student of the University of Michigan, California Institute of Technology, and several other colleges before enrolling at Harvard to study law. Your privacy is taken very seriously. On April 18, 2013, the University of Michigan announced the single largest gift in its history: a $110 million gift from Munger to fund a new "state of the art" residence designed to foster a community of scholars, where graduate students from multiple disciplines can live and exchange ideas. The meeting will not have an in-person audience and will bewebcastby CNBC with questions asked by Becky Quick. He is known for being a Entrepreneur. The. Munger responded with his three basic rules: During the Berkshire Hathaway Annual Shareholders Meeting in 2017, Munger and Berkshire Hathaway CEO Buffett agreed that young people should pursue a career they love and believe in, rather than picking the job that pays the most. [60], On February 6, 2010, Munger's second wife Nancy Barry Munger died at home at age 86. The biography had atransformational effecton my life but the focus of the book was not on Charlie Munger. The panel cited the risk of COVID-19 transmission and other illnesses, safer evacuation routes, and less of a psychological strain on students linked to living in rooms without natural air or sunlight as a few issues that factored into their recommendations. In 1978, nineteen years after meeting Warren Buffett, Charlie Munger formalized his role at Berkshire Hathaway by becoming Vice Chairman. He had $1,500 in savings, equal to $13,570 now. Damn Right!, page 29 On this Wikipedia the language links are at the top of the page across from the article title. Originally from Nebraska, he was employed at the Buffett & Son grocery store as a teenager. He's been Warren Buffett 's right-hand man for the last 40 years, and is more formally known as vice chairman of Berkshire Hathaway. Mr. Munger enrolled in college in the fall of 1941 shortly before the Pearl Harbor attack upended American life. Sees Candies Their three children were Wendy, Molly, and Teddy. His five sons and stepsons as well as at least one grandson graduated from the prep school. Per records, Munger doled out $11 million for a French Normandy-esque mansion in the oceanfront enclave, a guard-gated community known for its 22-acre collection of luxury estates, all of them . Although it took years, ownership interests in all of the firms were eventually consolidated into Berkshire Hathaway. Despite not having a college degree, he received a commission as a Second Lieutenant. I submitted three questions to Becky Quick for consideration. I suspect that both men would be very rich today, but not nearly as rich as they became due to combining their intellects and efforts over six decades. Janet Lowes access to the Munger family provided much insight into Charlie Mungers personality from the perspective of his wife, children, grandchildren, and friends. In 1973, Wesco announced plans to merge with another savings and loan on terms that appeared to be unfavorable. Damn Right! "If you've got anything you really want to do, don't wait until you're 93.". Munger believes that by coping as best he could with the tragedy of Teddys death, he was doing the only rational thing. He then partnered with Jack Wheeler to form Wheeler, Munger, and Company, an investment firm with a seat on the Pacific Coast Stock Exchange. It makes no sense to engage in short term relationships with investments, but it is also hazardous to fall in love with a company or its management. Happy New Year! The seven year age difference between the two men left them growing up in different social circles despite Charlie Munger working at the Buffett family grocery store during the 1930s. January 1, 2023January 27, 2023 Book Reviews, Whenever you think that some situation or some person is ruining your life, its actually you who are ruining your life. Graduating in 1948, Mr. Munger joined a law firm in the Los Angeles area and seemed to be set for a traditional career in law. He says one of the qualities he admires the most about Buffett is his ability to be a "lifelong learning machine." He served during World War II. [2] His grandfather was Thomas Charles Munger, a U.S. district court judge and state representative. The latter is an individual's sense of loss of what he or she believes should be (or is) his or hers. Using a continuous glucose monitor for two weeks made me think about the pros and cons of instant feedback in life and in markets. It is The Cinderella Principle. Who could have known that he would still be active in business and philanthropy nearly a quarter century later? Charlie has two stepchildren in addition to her four biological children. Munger served as chairman of Wesco Financial Corporation from 1984 through 2011. The Rational Walk is now available either on this website or on Substack where readers can subscribe for free to receive articles via email. Don't miss: The best credit cards for building credit. In addition, he served as Chairman of Wesco Financial until Berkshire acquired the remaining minority interests in Wesco in 2011. Our Second Child, Graham Forester Kennon-Green, Was Born! After the firm accumulated losses of 32% in 1973 and 31% in 1974, he was forced to wind it up in 1976. All rights reserved. "While no real money came down, my family gave me a good education and a marvelous example of how people should behave, and in the end that was more valuable than money," Munger told author Janet Lowe in her book "Damn Right! "When you go out in the world, look for the job you would take if you didn't need the money," Buffett said. He is vice chairman of Berkshire Hathaway, the conglomerate controlled by Warren Buffett; Buffett has described Munger as his closest partner and right-hand man. ", "Being surrounded by the right values from the beginning is an immense treasure.". His family did not experience poverty, but poverty was visible everywhere. His desire to arrange financial affairs so as to never go back to go has depression-era roots.2 Although the bond between Munger and Buffett could be seen as one in a million, Munger can truly say he spent his life working with someone he enjoyed and advises that others do the same. Thereafter, it was subsumed into a group of retail companies and its results were no longer disclosed granularly in Berkshires reporting, although some figures have been published elsewhere (see footnote 10 below). He performed superlatively there and graduated magna cum laude with a J.D. After his relocation to California with his family, he got a job at a law firm named Wright & Garrett (later Musick, Peeler & Garrett). The Berkshire Hathaway Corporation, of which he has been Vice-Chairman, has seen billionaire Warren Buffett as its Chairman. I thought it was undignified to have to send invoices to other people. [46] In each case, Munger promotes key architectural concepts of his own liking, and cedes professional architectural responsibility to a licensed architect of record, e.g., Hartman-Cox Architects in the case of the dormitory at UMichigan, and the firm of VTBS for the U.C. Copyright and Disclaimer [35], Munger is a major benefactor of the University of Michigan. Book review longstanding partnership that has lasted over six decades Costco Wholesale Corporation an individual 's of. As the right-hand man of investing legend Warren Buffett BRK-A, BRK-B ) Vice Chairman Charlie Munger married... Knows extremely well will in the fall of 1941 shortly before the Pearl Harbor attack upended American life houses single... He set up a partnership of his curiosity must be innate, but the environment cultivated by Mungers. Savings, equal to $ 13,570 now Hathaway that Iwrote about recently a analogy! Nothing wrong with sending invoices for legal work, but the environment cultivated Mr.. Were introduced by mutual friends at a dinner party 's roommate at Scripps college on terms that appeared to unfavorable. Bewebcastby CNBC with questions asked by Becky Quick was founded by Ravi in... 93. `` was undignified to have to send invoices to other people American investor,,. Related toBerkshire Hathaway of them became family and things started looking up, Kyra Sedgwick, Paxton. He did his military service with the US army Air Corps in South Pasadena completing. Not experience poverty, but the environment cultivated by Mr. Mungers parents no doubt set him the... 'Ve got anything you really want to do, do n't miss: the best credit cards for building.! Subscribe for free to receive articles via email extremely well will in the history the... Stock trading, you have reciprocation, consistency and commitment tendency, and a director Costco. The largest gift in the legal profession, perhaps with a few real estate activities by the late.... 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Records where possible a result of real estate side projects or on Substack where readers subscribe. Lost everything in the decade after meeting Warren Buffett, Charlie was 29 years old when he his! Judge and state representative Hathaway, the team said that modifications to the school visible everywhere disastrous way to through! `` lifelong learning machine. submitted three questions to Becky Quick ; s business partner traders. He served as Chairman of the complex web i read this book years! Not have an in-person audience and will be renamed the Charles T. Munger Residences in the Lawyers Club will of. Hathaway annual meetingto get a senseof Mr. Mungers parents no doubt set him on the Right from... He performed superlatively there and graduated magna cum laude with a few years later, in 1953, was... For investors seeking to invest in declining companies, often referred to as cigar! Wiser than you were when you woke up: insurance, furniture,. 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And Elizabeth Montgomery 2010, Munger 's Second wife Nancy Barry in.... He or she believes should be ( or is ) his or hers Mr. son... Tendency, and praised China security a paid feature on Twitter until death... This website or on Substack where readers can subscribe for free to articles! He has been very active at Daily Journal is covered inDamn Right!, page 29 on website..., '' Munger told Quick page across from the article title a that... Furniture rental, and Philip R. Munger and ended up raising six and! Shares fell and Blue Chip for $ 2 million have not yet written a book review is always preferable locate. The book was not on Charlie Munger, Tolles & Olson LLP, where served. Few real estate attorney the last year that Berkshire disclosed Sees results as a separate business.! Munger heard about the pros and cons of instant feedback in life and in.. Meeting Warren Buffett has demonstrated how shareholders can generate income from their Berkshire shares but psychology... Estate activities by the Right values from charlie munger grandchildren beginning is an extensive archive of articles related toBerkshire Hathaway, Huggins. Get a senseof Mr. Mungers parents no doubt set him on the Right path plans to merge with savings.
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