Charlie Munger, the Vice Chairman of Berkshire Hathaway and Warren Buffett’s business partner, died yesterday, less than a month short of his 100th birthday. He was known for his dry wit and the depth of his wisdom. He was instrumental in Berkshire Hathaway’s success, which has been substantial as the company’s stock return of 19.8% annually from 1965 -2022 trounced the S&P 500’s 9.9% return.
Over the years, volumes of Munger’s thoughts have been collected (see here and here), and those in the investment world revere his advice. Like others, Charlie’s sage insights have shaped my worldview. Below are the five Mungerisms that have impacted my thinking the most.
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