Charlie Munger, the vice chairman of Berkshire Hathaway, died on November 28, 2023 at the age of 99.

Munger, a billionaire philanthropist and Warren Buffett's right-hand man, was renowned for his astute investment strategies and sharp wit.

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Early Life and Education Charles Thomas Munger was born on January 1, 1924, in Omaha, Nebraska, USA.

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Early Life and Education He studied mathematics at the University of Michigan and later attended Harvard Law School.

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Career with Warren Buffett As a teenager, Munger worked at Buffett & Son, a grocery store owned by Warren Buffett's grandfather, Ernest P. Buffett.

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Career with Warren Buffett He has been a key business partner and close friend of Warren Buffett, the Chairman and CEO of Berkshire Hathaway.

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Investment Philosophy Munger was a value investor. He emphasized the importance of investing in companies with strong fundamentals and competitive advantages.

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Influence on Berkshire Hathaway Munger played a crucial role in shaping the investment philosophy and strategic decisions at Berkshire Hathaway.

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Influence on Berkshire Hathaway His focus on long-term value creation and the importance of ethical business practices significantly impacted the company.

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The Berkshire Hathaway Annual Meeting Munger and Warren Buffett are known for their annual shareholder meetings, often referred to as the "Woodstock for Capitalists."

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The Berkshire Hathaway Annual Meeting These meetings drew thousands of shareholders, known for insightful discussions on business and investing.

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Writings and Speeches His collected writings are compiled in books, and he was sought after for his wisdom on various subjects.

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The "Lollapalooza Effect" Munger coined the term "Lollapalooza Effect" to describe situations where multiple cognitive biases and tendencies converge, leading to extreme outcomes.

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The "Lollapalooza Effect" He emphasized the importance of understanding and avoiding these biases in decision-making.

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Philanthropy Like Buffett, Munger supported philanthropic causes, including education and health care.

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Wealth At the time of his death, Munger had an estimated net worth of $2.6 billion and was ranked as the 1182nd richest person in the world, according to Forbes.

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Personal Characteristics Munger was known for wit, directness, and independent thinking, blending pragmatism and a long-term perspective in life and business.

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In a statement following his death, Warren Buffett said, "Berkshire Hathaway could not have been built to its present status without Charlie's inspiration, wisdom and participation."

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