CHARLEY ​MONGER

about char​ley monger

Charlie Munger's early life set the stage for his remarkable career as a prominent investor and ​business leader. From his humble beginnings in Omaha, Nebraska, to his education at prestigious ​institutions like the University of Michigan and Harvard Law School, Munger cultivated a ​foundation of knowledge and skills that would serve him well throughout his life.

His early career experiences in law, investment management, and real estate development ​provided valuable insights into finance and business operations. Influenced deeply by the ​teachings of Benjamin Graham, Munger adopted a disciplined approach to investing that ​emphasized rationality, patience, and a long-term perspective.

Munger's partnership with Warren Buffett at Berkshire Hathaway became legendary, propelling ​both men to unparalleled success in the world of finance. Together, they applied their shared ​principles of value investing and business ethics to build Berkshire Hathaway into a conglomerate ​known for its enduring profitability and ethical standards.

Throughout his journey, Charlie Munger's commitment to continuous learning, intellectual ​curiosity, and sound decision-making has not only shaped his own success but also inspired ​countless investors and business leaders worldwide. His story serves as a testament to the power ​of intellect, perseverance, and lifelong learning in achieving remarkable achievements in business ​and finance.

TOTAL SUPPLY:

1,000,000,000

LP BURN:

100%

tAX:

0%

Munger moved with his family to California, where he joined the law firm Wright & Garrett (later Musick, Peeler & Garrett).[13] In 1962, he founded ​and worked as a real estate attorney at Munger, Tolles & Olson LLP.[5] He then gave up the practice of law to concentrate on managing ​investments and later partnered with Otis Booth in real estate development. When he met Buffett over lunch at the Omaha Club, "the two began ​talking about investments and never stopped."[14]

In 1962, Munger partnered with Jack Wheeler to form Wheeler, Munger, and Company, an investment firm with a seat on the Pacific Coast Stock ​Exchange. According to Buffett's essay "The Superinvestors of Graham-and-Doddsville", published in 1984, Munger's investment partnership ​generated compound annual returns of 19.8% during the 1962–75 period compared to a 5.0% annual appreciation rate for the Dow.[15] He wound ​up Wheeler, Munger, and Co. in 1976, after losses of 32% in 1973 and 31% in 1974.[5]

Munger was previously the chairman of Wesco Financial Corporation, now a wholly-owned subsidiary of Berkshire Hathaway. The acquisition of ​this company was controversial following accusations that Buffett's company, Blue Chip, bought Wesco shares to defeat an impending merger ​between Wesco and Financial Corp.[16][17] Wesco began as a savings and loan association, but eventually grew to control Precision Steel Corp., ​CORT Furniture Leasing, Kansas Bankers Surety Company, and other ventures. Wesco Financial also held a concentrated equity portfolio of over ​US$1.5 billion in companies such as Coca-Cola, Wells Fargo, Procter & Gamble, Kraft Foods, US Bancorp, and Goldman Sachs. Munger believed ​that holding a concentrated number of stocks that he knew extremely well would in the long term produce superior returns.[18]

Wesco is based in Pasadena, California, Munger's adopted hometown. Pasadena was also the site of the company's annual shareholders' meeting, ​which were typically held on the Wednesday or Thursday after the more famous Berkshire Hathaway annual meeting. Munger's meetings were ​nearly as legendary in the investment community as those he co-hosted with Buffett in Omaha. Such meetings were often perfunctory, but Munger ​interacted with the other Wesco shareholders at considerable length, sometimes speculating about what Benjamin Franklin would do in a given ​situation.[19] Meeting notes have been posted on the Futile Finance? website, but no updates exist beyond 2011.[20]

Munger was also the chairman of the Daily Journal Corporation. After Wesco meetings ended, the Daily Journal annual meeting grew in ​importance, as investors flocked to the meeting to listen to him speak at length.

Charles Thomas Munger (January 1, 1924 – November 28, 2023) ​was an American businessman, investor, and philanthropist. He ​was vice chairman of Berkshire Hathaway, the conglomerate ​controlled by Warren Buffett. Buffett described Munger as his ​closest partner and right-hand man, and credited him with being ​the "architect" of modern Berkshire Hathaway's business ​philosophy.[1]

In addition to his role at Berkshire Hathaway, Munger was a ​founding partner of Munger, Tolles & Olson; chairman of Wesco ​Financial Corporation from 1984 through 2011; chairman of the ​Daily Journal Corporation, based in Los Angeles, California; and a ​director of Costco Wholesale Corporation.

CHARLEY ​MONGER

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MONGER IS A MEMECOIN WITH NO INTRINSIC VALUE. DON’T RISK MONEY YOU ARE AFRAID OF LOSING. THE PRICE MAY ​GO UP OR IT MAY GO DOWN. WE ARE NOT RESPONSIBLE FOR THE PRICE OF THE TOKEN.