1October 28th, Charles Munger died at the age of 99. I met Warren Buffett from 1959, invested in 1968 with him, and joined Berkshire Hathaway as vice president from 1978. Since 1978, Charles Munger has been the vice chairman of the board of directors of Berkshire Hathaway, and he is the second person of Berkshire Hathaway. In the past 48 years, Charles Munger and Warren Buffett have jointly created the best investment record in history.
The book value of Berkshire Hathaway's stock has created an investment myth with a compound annual rate of return of 20.3%. Together, they created a legend in the history of human investment. Charles Munger has been gradually recognized and respected by the global investment and financial circles by virtue of his outstanding investment performance, value investment concept, unique acting style and long-term tacit cooperation with Warren Buffett.
Introduce the cooperative relationship between Warren Buffett and Charles Munger;
With Warren Buffett's experience and skills in other fields, Charles Munger has gained a lot in real estate development and construction. At this time, Warren Buffett is raising his own Buffett partnership fund. Unlike Charles Munger, which has established close relations with some partners, Warren Buffett has always been an exclusive operator. Warren Buffett was only 29 when he met Charlie Munger, while Charles Munger was 34. The two hit it off and enjoyed each other.
We often talk on the phone all night to analyze and discuss investment opportunities. Charles Munger brought the viewpoint of commercial law to the field of financial investment. Charles Munger knows the internal laws and can analyze and evaluate any business more quickly and accurately than ordinary people. He is a perfect collaborator. Together, they directed a series of classic investment cases, and successively purchased United Cotton Store, Illinois National Bank, Xishi Candy Company, Wechs Finance Company and Buffalo Evening News to invest in Washington post.
Create a new American fund. Charles Munger later became the chairman of Blue Ribbon Printing Company, and in 1978, he officially became the vice chairman of the board of directors of Berkshire Hathaway Company.