Charlie Munger is a finance and investing legend. He was born in 1924 in Omaha, Nebraska. He is the Vice-Chairman of Berkshire Hathaway and has been a major force in that company's success. Munger is also a noted philanthropist. He has an estimated net worth of $2.3 billion.
Charlie Munger's investment portfolio exhibits a strategic focus on financial and banking sectors, with significant positions in Wells Fargo & Co. and Bank of America Corp., indicating a preference for established institutions known for their stability and consistent performance in the market. These powerhouse banks are renowned for their extensive customer bases and diversified financial services.
His interest extends to Alibaba Group Holding Ltd - ADR, suggesting an appetite for large-scale e-commerce platforms with global reach and significant growth potential amidst China's expanding online marketplace. Alibaba is viewed as a leading player in technology-driven sectors with a considerable competitive edge.
U.S. Bancorp finds its place among Munger’s top investments, reflecting his confidence in regional banking operations recognized for prudent management and reliable revenue streams within the U.S. financial landscape.
Lastly, POSCO Holdings Inc - ADR reflects Munger's diversification strategy, adding an international materials sector company to his holdings. This South Korean steel-making giant showcases his belief in industrial entities critical for infrastructure development worldwide.
This collection of stocks mirrors Charlie Munger's investment philosophy concentrating on value investing and long-term holding periods. It also illustrates a blend of traditional banking discipline and savvy technological industry bets likely aimed at balancing stability with growth prospects in rapidly evolving markets. For potential investors analyzing these preferences, Munger’s selections offer insights into opportunities where substantial industrial knowledge and economic moats may provide sustainable advantages.
Charlie Munger is a billionaire investor with an estimated net worth of over $2.2 billion! He is also Warren Buffett's great friend and business partner at Berkshire Hathaway. He is a classic value investor and believes in buying "Wonderful Companies at Fair Prices". He is widely given credit for helping to evolve Warren Buffett's thinking on classic "deep value" or "cigar butt" investing, in which one invests into downtrodden and "bad" companies but which may have "one last puff" in the them.
"It's better to buy a wonderful company at a fair price than a fair company at a wonderful price." (Warren Buffett uses this quote a lot but he openly admits Charlie Munger influenced his thinking on this.) "A lot of people with high IQs are terrible investors because they've got terrible temperaments." "All intelligent investing is value investing, acquiring more than you are paying for. You must value the business in order to value the stock." Overall, Charlie Munger is an investing legend with great humour, wisdom, witticisms and no filter when it comes to discussing what he thinks.
Charlie Munger is also a leading thinker and philosopher, he did a historical talk called the "Psychology of Human misjudgement" in which he highlighted various "investing biases" and solutions for them such as to "Invert problems" etc.
Warren Buffett and Charlie Munger first met at a dinner in 1959. The Legendary business partners were introduced to each other through the family of a popular doctor in Omaha. Dr. Edwin Davis, told Buffett in a 1957 meeting he trusted him to manage his money because the investor reminded him of someone named Charlie Munger. Buffett stated in a CNBC Interview: "Well, I don’t know who Charlie Munger is, but I like him." Dr Davis and his wife, Dorothy aimed to connect Buffett and Munger. Two years later they managed to connect at a dinner in 1959, when Munger, who was a lawyer in Los Angeles back then, was visiting Omaha after his father, Alfred, died. They immediately hit it off and made a great connection. Buffett, said: "About five minutes into it, Charlie was sort of rolling on the floor laughing at his own jokes, which is exactly the same thing I did. I thought, ‘I'm not going to find another guy like this.’ And we just hit it off." Munger added: "What I like about Warren is the irreverence. We don't have automatic reverence for the pompous heads of all civilisation." After which their friendship boomed and they started to talk on the phone regularly regarding investment ideas and life advice.
He is 100 years old. He was born 1st January, 1924.
