By
Ryan Ledendecker
|
November 29, 2023
|
11:35 pm

Charlie Munger, Warren Buffett's right hand, dead at 99

The world of high finance lost an absolute legend this week. 

According to The New York Post, Charlie Munger, who had a massive influence on the business and acted as Warren Buffett's right-hand man, passed away at age 99.

Munger passed away on Tuesday at a California hospital close to where he lived. A cause of death hasn't been revealed at this time.

Buffett released a statement on his trusted confidant and good friend's passing, noting his contributions to the Berkshire Hathaway empire.

"Berkshire Hathaway could not have been built to its present status without Charlie’s inspiration, wisdom and participation," Buffett's statement read.

The Post noted:

Munger had been a Berkshire vice chairman since 1978, working closely with Buffett on allocating the Omaha, Nebraska-based conglomerate’s capital, and being quick to tell him when he was making a mistake.

Munger, who guided Buffett through the years, was instrumental in shaping Buffett's enormously successful investment strategy, as Paul Lountzis, president of Lountzis Asset Management said.

"Charlie felt that buying very good businesses at fair prices that could keep compounding and reinvesting cash flow into continued growth was more consistent with how he and Warren were philosophically and liked to invest," Lountzis said. "They liked to own businesses forever."

Tributes poured in across social media like wildfire, with them all praising Munger for his impact on his wisdom and thoughts on not only finance, but life itself.

"I lost a dear friend, mentor and teacher yesterday. As a kid from Mumbai I never expected to have a friendship or with Charlie Munger! The students at Munger Hall paid tribute to Charlie yesterday. He made all of us better humans," an X user wrote.

It goes without saying that Munger will be missed, but his contributions and shared knowledge and advice will live on forever.

Written By:
Ryan Ledendecker

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