Charlie Munger

Charlie Munger was born in Omaha in the year 1924. As a teenager, he worked at Buffett & Son, a grocery store owned by Warren Buffett's grandfather.

After serving in the U.S. Army Air Corps, Charlie Munger continued his studies in meteorology at Caltech in Pasadena, California, which eventually became his lifelong home.

In 1948, he graduated magna cum laude with a J.D. from Harvard Law School, despite not having an undergraduate degree.

In 1959, Munger met Warren Buffett at a dinner in Omaha, which marked the beginning of a long-lasting professional relationship.

In 1965, Charlie Munger decided to step down as an active partner of the law firm he co-founded, Munger, Tolles & Olson. Despite stepping back from the partnership, he continued to maintain his office at the firm and provide guidance to the partners.

During the leadership of Charlie Munger and Warren Buffett, Berkshire Hathaway achieved an extraordinary growth of roughly 2,000,000% on its initial value, or 20,000 to 1, by investing in prosperous enterprises without excessive borrowing.

In 1977, Charlie Munger acquired the Daily Journal Corporation, a media business with a century-old history. This acquisition provided Munger with a platform to share his thoughts on financial events and products.

In 1978, Charlie Munger was appointed as the vice chairman of Berkshire Hathaway, a significant position within the company.

In 1983, Charlie Munger was appointed as the chairman of Wesco Financial Corp., a finance company mostly owned by Berkshire Hathaway.

In 1984, Warren Buffett highlighted in his essay 'The Superinvestors of Graham-and-Doddsville' that Charlie Munger's investment firm, prior to joining Berkshire, achieved compound annual returns of 19.8% between 1962 and 1975. This outperformed the Dow's 5% annual appreciation rate during the same period.

Charlie Munger has made significant charitable contributions, including donations to Los Angeles' Good Samaritan Hospital, Planned Parenthood, Stanford University Law School, and the Harvard-Westlake School.

Wesco Financial, a company associated with Charlie Munger, exited the savings and loans industry in 1992. This move was influenced by Munger's business savvy and ability to foresee challenges in the sector.

In 1995, Munger introduced the concept of the 'Lollapalooza effect,' describing how multiple biases or mental models can compound to produce extreme and irrational outcomes.

Nancy Huggins Freeman, Munger's first wife, passed away at the age of 76 due to cancer.

In 2004, Charlie Munger donated $43.5 million in Berkshire Hathaway stock to Stanford University to build a graduate student housing complex.

Charlie Munger introduced the concept of 'elementary, worldly wisdom' in the business and finance sector through speeches and his book Poor Charlie's Almanack.

In 2007, Charlie Munger donated $3 million to the University of Michigan Law School for lighting improvements.

In 2008, Charlie Munger delivered a speech at Caltech, sharing his insightful and original thoughts.

At the 2009 Wesco Financial Corporation annual meeting, Munger emphasized the importance of high ethical standards in business, stating that ethical businesses are more likely to succeed.

During an interview at Harvard-Westlake School on January 19, 2010, Munger referenced American philosopher Charles Frankel's views on responsibility in decision-making and discussed the financial crisis of 2007–08.

Nancy Barry Munger, Munger's second wife, died at home at the age of 86.

In 2011, Charlie Munger contributed $20 million to the University of Michigan Law School for housing renovations.

Charlie Munger shared his insightful comments at the 2013 Daily Journal Corporation annual meeting.

Thorough notes recorded during the annual shareholders meeting of Daily Journal Corporation headed by Charlie Munger in 2016.

Detailed notes from the annual shareholders meeting of Daily Journal Corporation overseen by Charlie Munger in 2017.

Comprehensive notes taken during the annual shareholders meeting of Daily Journal Corporation led by Charlie Munger in 2019.

Charles Munger pledged a substantial amount of $200 million to UC Santa Barbara for the construction of new dormitories.

Under Charlie Munger's leadership, BHE earned a record $26.3 billion in 2022, showing significant growth from when Berkshire first purchased a stake in 2000. BHE has also become a major player in renewable energy.

Charlie Munger, former vice chair of Berkshire Hathaway and close business partner of Warren Buffett, passed away at the age of 99. He played a key role in the growth of Berkshire Hathaway into a diversified holding company with a market capitalization of over $780 billion.

Poor Charlie's Almanack is a compilation of Charles T. Munger's wisdom put together by Glenair CEO Peter Kaufman.