Munger is 99 years of age yet retains a sharp mind and wit. Munger is credited for helping change Buffett’s investment approach from buying cheap, often low-quality companies, to purchasing great companies at reasonable prices.

In 1978, Munger became Vice Chairman of Berkshire Hathaway, a position he still holds today. He started his own investment firm in 1962 and went on to crush the market over the following 13 years, compounding his portfolio at 19.8% per annum compared to the Dow Jones Industrial Average’s 5%. Two years later, Davis arranged for the pair to meet, and they hit it off right away. “Well, I don’t know who Charlie Munger is, but I like him,” Buffett responded to Davis. Edwin Davis, told Buffett in 1957 that he trusted him to manage money because Buffett reminded him of someone called Charlie Munger. Munger first met Buffett in 1959 through a mutual friend.

This article has been written by James Gruber, assistant editor for Firstlinks and .Ĭharlie Munger is a formidable investor and investment thinker.

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