‘We have never had an argument,’ How Charlie Munger and Warren Buffett's 60 years of friendship flourished (2024)

FAQs

Are Charlie Munger and Warren Buffett friends? ›

Warren Buffett on his friendship with Charlie Munger: We never had any doubts about the other person. Berkshire Hathaway Chairman and CEO Warren Buffett presides over the 2024 Berkshire Hathaway annual meeting.

During a shareholder meeting in the late 1990s, Munger famously remarked, “The first $100,000 is a b****, but you gotta do it.” Important Note: This quote was from the late 1990's, that figure after adjusting for inflation is closer to $200,000 today, however the same concept still applies.

How much Berkshire Hathaway stock did Munger hold at the time of his death? Most of Munger's net worth at the time of his passing was in the form of Berkshire Hathaway Class A stock, of which he owned 4,033 shares as of Oct. 5, 2023.

He's constantly telling jokes and making people laugh. That said, his partner Charlie Munger is definitely a lot more inline with the classical definition of an introvert. Introvert here, who has also frequently been called a social butterfly.

We all know that when Buffett began his investing career, he was looking at “cigar butts,” something that had one or two good more puffs left in it, but Munger's influence really forced him to focus more on higher-quality companies and being able to pay a higher price point for those companies.

Munger believed we tend to overstate our intelligence. But he also believed that if we are curious about the world around us, and passionate in trying to understand why things are happening, we can attain valuable wisdom. He encouraged his followers to read as much as they could and to take time out to think.

Three rules for a career: 1) Don't sell anything you wouldn't buy yourself. 2) Don't work for anyone you don't respect and admire. 3) Work only with people you enjoy.

"A great business at a fair price is superior to a fair business at a great price." "Avoid working directly under somebody you don't admire and don't want to be like." "Mimicking the herd invites regression to the mean." "All I want to know is where I'm going to die, so I'll never go there."

Munger never officially retired from his role at Berkshire Hathaway, and would have turned 100 on January 1, 2024. In a 2017 interview, Buffett credited Munger with changing his views on investment for the better.

Charlie Munger believes in multi-disciplinary learning and applying mental models from different fields. He also reads a lot, and thinks a lot to make himself a better decision maker. One thing he did that is worth emulating is “selling time to himself.” He did this when he was a lawyer and billed by the hour.

What religion is Warren Buffett? ›

Buffett worked with Christopher Webber on an animated series called "Secret Millionaires Club" with chief Andy Heyward of DiC Entertainment. The series features Buffett and Munger and teaches children healthy financial habits. Buffett was raised as a Presbyterian, but has since described himself as agnostic.

The late billionaire investor Charlie Munger loved Costco, and called himself a "total addict." He served on the company's board of directors, and owned more than 187,000 shares of Costco stock.

Buffett served in the Army National Guard in Nebraska and New York until November 1956.

Buffett also paid tribute to the late Charlie Munger, who died in November at the age of 99, hailing him as the "architect of today's Berkshire." "The architect is the person who dreams of and designs and finally supervises the construction of great structures.

Warren Buffett said Tuesday that his longtime friend Jimmy Buffett “made everybody feel good, particularly me.”

At one point in the morning after Buffett had talked for some time about the company's energy businesses and was turning the microphone over to Berkshire vice chairman Greg Abel (who oversees those operations), instead of saying “Greg?” [to query him], he said: “Charlie?”