Warren Buffett associate Charlie Munger dies at 99

Photo credit © Reuters

(Boursier.com) — Charlie Munger, historic partner of Warren Buffett and vice-president of Berkshire Hathaway, died yesterday Tuesday at the age of 99. The legendary investor, nicknamed the Oracle of Pasadena, was Buffett’s right-hand man for more than four decades. He died yesterday in a California hospital. He had built the success of Berkshire with Warren Buffett. The Omaha firm became the benchmark for responsible and reasonable investment under their reign. The diversified investment conglomerate has become a reference for all financial market specialists. The Munger/Buffett association began in 1975. Munger, who defined himself as a happy pessimist, had recognition in the financial community almost equivalent to that of Buffett.

Long before his association with Buffett, Munger had enjoyed success with the investment firm Wheeler, Munger & Co, which outperformed the market during the 1960s and first half of the 1970s. A fan of fundamental and value analysis, Munger has been extremely negative in recent years about cryptocurrencies and more recently skeptical about the euphoria around artificial intelligence.

Citing family members, Berkshire said in a brief statement last night that Charlie Munger had “died peacefully in a California hospital.” Warren Buffett, chief executive of Berkshire Hathaway, said soberly: “Berkshire Hathaway could not have reached its current status without Charlie’s inspiration, wisdom and participation.” “The family will manage all affairs in accordance with Charlie’s instructions,” Berkshire added.

©2023 Boursier.com

Source link -87