Charlie Munger: Warren Buffet, the G.O.A.T. in the stock market, didn’t do it alone. He had his bestie, Charlie Munger, stand right by his side, making the journey even more remarkable.

But unfortunately, on the morning of November 28th, the billionaire passed away ‘peacefully’ at the age of 99, leaving behind his philosophy, memorable quotes, and stories to guide us in thinking and living better.

“The big money is not in the buying and selling but in the waiting.” – Charlie Munger

Charlie, often known as Warren Buffet’s right-hand man, Oracle of Pasadena, or best known as the vice chairman of Berkshire Hathaway (a company with the highest stock price in the world).

But how did Charlie Munger start his career, and how did he meet Warren Buffet? So, let’s begin this small journey!

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When did Charlie Munger begin his career?

You may have noticed that many famous people come from challenging backgrounds with limited financial support. Munger, too, began his career by working at a grocery store on Saturdays, owned by none other than Buffet’s grandfather. Although Buffett also worked there for a while, they didn’t meet until much later.

Munger dropped out of university shortly after turning 19 to serve as a US Army meteorologist during World War II. Afterwards, he settled in California, practised law (his father was a lawyer too), and eventually got into real estate development and investing.

Munger once said that he would rather be “one of our rich and interesting clients than be their lawyer.”

When did he team up with Warren Buffet?

Warren Buffett and Charlie Munger were destined to meet again, and fate brought them together!

In 1959, at age 35, he returned to Omaha to close his late father’s legal practice. He was invited to lunch at the local Omaha Club, and that’s when he was introduced to Buffett (then 29 years old) by one of Buffett’s investor clients.

Later that week, Munger attended a dinner party to which Mr. Buffett had also been invited. The two hit it off, spent the evening talking, and stayed in contact despite living half a continent away from each other.

On Buffett’s advice, Munger left the practice of law in the 1960s to focus on managing investments.

In 1978, Munger became vice chairman of Berkshire Hathaway and, together with Buffet, turned it into a highly successful company valued at over $600 billion as of 2023.

Did you know – Charlie Munger hated Bitcoin?

Despite being known as an investment genius, Munger openly expressed his dislike for Bitcoin. While Buffett tactfully avoided discussing cryptocurrency at a 2021 shareholder meeting, Munger straightforwardly said that Bitcoin was “created out of thin air” and is a “go-to payment method for criminals.”

He was concerned about large sums of money going to someone who “invented a new financial product out of thin air.” Munger also praised China’s ban on cryptocurrency and criticized heavy U.S. involvement in the currency.

A man who wore thick glasses and had lost his left eye after cataract surgery complications in 1980 never stopped and remained committed to his work. Munger was a man who truly loved doing his job!

Berkshire Hathaway, where he played a crucial role, has not indicated any plans to replace him publicly. With Munger no longer on stage alongside Buffett, answering shareholder questions for hours, things will never be the same.

Written By Shivani Singh

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