Charlie Munger, widely recognized as one of the most influential investors of the 20th century, passed away last night, leaving behind a legacy that extended far beyond the world of finance. As Warren Buffet’s right-hand man and vice chairman of Berkshire Hathaway, Munger played a crucial role in shaping the investment behemoth. Beyond the boardroom, his life was marked by personal challenges, resilience, and a commitment to continuous learning.
1. How Munger Met Warren Buffet
In 1959, the paths of Charlie Munger, then a Southern California lawyer, and Warren Buffet, managing an investment partnership in Omaha, converged at a dinner in Omaha. Their connection blossomed through frequent calls and extensive letters, eventually leading to a partnership that spanned over five decades. Munger’s impact on Berkshire Hathaway was profound, shaping its trajectory since he joined as vice chairman in 1978.
2. Losing All Possessions After Divorce
After an eight-year marriage, Munger experienced a significant setback when he lost all his possessions, including his home, in a divorce. Janet Lowe’s biography, “Poor Charlie’s Almanack,” reveals Munger’s move to less-than-ideal accommodations, driving a modest yellow Pontiac. Despite financial challenges, Munger maintained a sense of humor, claiming the car’s poor condition was a deterrent for ‘gold-diggers.’
3. Losing His Son to Cancer
Following his divorce, Munger faced another tragic chapter when his 9-year-old son, Teddy, was diagnosed with leukemia. In an era with low cancer survival rates and no health insurance, Munger bore the financial burden of Teddy’s treatment. Munger’s friend recounted the heart-wrenching routine of visiting the hospital, holding his dying son, and wandering the streets of Pasadena in tears. Teddy passed away in 1955.
4. Losing an Eye and Learning Braille
A traumatic cataract surgery left Munger in pain and resulted in the removal of one eye. Fearing the potential loss of vision in his remaining eye due to a blood-filling condition, Munger resolved to learn Braille. Fortunately, his eye condition improved, sparing him from complete vision loss. Munger’s readiness to embrace challenges with resilience remained a hallmark of his character.
As we bid farewell to Charlie Munger, we reflect not only on his investment acumen but also on the resilience and fortitude displayed in the face of personal adversities.
