Introducing ‘Charlie Munger’ The Genius Billionaire Investor
Charlie Munger “The Genius Billionaire Investor”
Charles Thomas Munger (born January 1, 1924) is an American investor, businessman, and philanthropist. He is vice chairman of Berkshire Hathaway, the conglomerate controlled by Warren Buffett. Buffet has described Munger as “[his] partner.” Munger served as chairman of Wesco Financial Corporation from 1984 through 2011. He is also the chairman of the Daily Journal Corporation, based in Los Angeles, California, and a director of Costco Wholesale Corporation.
Munger was born in Omaha, Nebraska. As a teenager he worked at Buffett & Son, a grocery store owned by Warren Buffett’s grandfather. After enrolling in the University of Michigan, where he studied mathematics, he never returned to Omaha except to visit. In early 1943, a few days after his 19th birthday, he dropped out of college to serve in the U.S. Army Air Corps, where he became Second Lieutenant. He continued his studies in meteorology at Caltech in Pasadena, California, the town he was to make his home.
Through the GI Bill he took a number of advanced courses through several universities; without an undergraduate degree, he entered Harvard Law School and graduated magna cum laude with a J.D. in 1948.
At Harvard he was a member of the Harvard Legal Aid Bureau. In college and the Army he developed “an important skill“: card playing. “What you have to learn is to fold early when the odds are against you, or if you have a big edge, back it heavily because you don’t get a big edge often. Opportunity comes, but it doesn’t come often, so seize it when it does come.
A discussion and Q&A with Charlie Munger. In this discussion Charlie first talks about common sense and how it is not common. He then discusses the Social Sciences and his views on them. Finally Charlie takes questions from the audience and displays his wisdom across many subjects.