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TUE, NOV 28, 2023
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WARREN BUFFETT WATCH
Special Edition
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Celebrating Charlie Munger |
'It's been almost hilarious, it's been so much fun' |
In this video obituary that aired on CNBC this evening, Becky Quick explores Munger's under-recognized role in helping Warren Buffett become one of the richest people on Earth by encouraging him to shift away from buying "so-so companies" just because they were cheap, and toward buying "really wonderful businesses at fair prices."
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'There are things you give up with time' |
On "Closing Bell Overtime," Becky shared a clip from an extensive sit-down interview she did with Munger recently for a planned one-hour special program ahead of his 100th birthday. In it, he talked about how he has "welcomed" what he called the "unfair advantages" he has received in "old age" (along with the "unfair advantages" he also got when he was younger.)
"When they came, I just grabbed them. Boom, boom, boom." But he also discusses how he has deliberately avoided grand displays of great wealth because he didn't think it would be good for his children. |
'We got a little less crazy than most people and a little less stupid' |
On "Fast Money," Becky showed a clip from her interview in which Munger said when he and Buffett were just starting out, they never thought they'd get to $100 million, "much less several hundred billion." |
'All I want to know is where I'm going to die so I don't go there' |
'Charlie was absolute GOAT' |
On "Last Call," trader Josh Brown said that without Munger, Buffett "probably winds up like a lot of other value investors from the 1960s: in obscurity." |
How Munger made thousands laugh 'every time' |
In Barron's, Andy Serwer called Buffett and Munger "the greatest buddy act in the history of American business:" Among investors, Charlie's one-line retort delivered with pitch-perfect timing right after a protracted Buffett ramble on an investment idea, became like a trope, or a line you know is coming from a long running play. Buffett: "Blah, blah blah...we have made mistakes, we will unfortunately probably continue to do so, etc, blah blah blah..."
[Finishing, Buffett turns to Munger] "Charlie?" Munger: [Pauses] "I have nothing to add." [Eats another piece of candy.]
[17,560 in the Omaha CHI Health Center Arena crack up. Every time.] |
MUNGER AROUND THE INTERNET
Some links may require a subscription |
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HIGHLIGHTS FROM THE ARCHIVE |
Munger's zingers through the years |
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Please send any questions or comments about the newsletter to me at alex.crippen@nbcuni.com. (Sorry, but we don't forward questions or comments to Buffett himself.) If you have any thoughts about Charlie Munger that you would like to share, I'll include some of them in Friday's newsletter.
If you aren't already subscribed to this newsletter, you can sign up here.
Also, Buffett's annual letters to shareholders are highly-recommended reading. There are collected here on Berkshire's website. -- Alex Crippen, Editor, Warren Buffett Watch |
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