November 27, 2023
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November 29, 2023
Charlie Thomas Munger, the renowned investor and vice chairman of Berkshire Hathaway, passed away on November 28 at the age of 99.
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Munger, with Buffett, transformed Berkshire from textile struggler to a $700B conglomerate.
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His successful investment partnership from 1962 to 1975 yielded annualized returns of nearly 20%, outpacing market indexes.
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Munger adhered to a value investing philosophy, emphasizing the long-term acquisition of quality companies. His famous quote was, "Our favorite holding period is forever."
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Even before his partnership with Buffett, Munger had a distinguished career, earning credit for Berkshire's success beyond their joint endeavors.
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Munger was an outspoken critic of cryptocurrency and referred to Bitcoin as "noxious poison" and cryptocurrencies in general as "turds."
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Munger dismissed critics of his anti-crypto stance as "idiots" and advocated for an outright ban on cryptocurrencies, citing China's example from 2021.
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With Munger's passing, the business world not only lost a sharp mind and shrewd investor but also a giant presence and one of its bluntest voices.
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