Charlie Munger, who was Warren Buffett's right-hand man at Berkshire, dies at 99

 Charlie Munger, the Sage of Omaha, Passes Away at 99:

The world of finance lost a towering figure today with the passing of Charlie Munger, the longtime vice chairman of Berkshire Hathaway and Warren Buffett's trusted confidant. Munger, who died peacefully at his home in Los Angeles at the age of 99, was a brilliant investor, a keen observer of human behavior, and a master of the concise and witty aphorism.

A Life of Wisdom and Wit

Born in Omaha, Nebraska, in 1924, Munger graduated from Harvard Law School and practiced law in Los Angeles before turning to investment management. He joined Berkshire Hathaway in 1978, and his partnership with Buffett proved to be one of the most successful in history. Over the next four decades, Berkshire's stock price soared more than 3,600,000%, making it one of the most valuable companies in the world.

Munger's wisdom and wit were legendary. He was known for his ability to distill complex concepts into simple and memorable sayings, such as "The best way to get what you want is not to want it in the first place." He was also a fierce advocate for value investing, emphasizing the importance of buying stocks at a discount to their intrinsic value.

A Champion of Mental Models

Munger was a proponent of using "mental models"—a term he borrowed from psychologist Herbert Simon—to make better decisions. He believed that by understanding a wide range of mental models, from psychology to physics to mathematics, investors could make more informed judgments about the world and avoid common pitfalls.

Munger was also a strong advocate for lifelong learning. He believed that knowledge was power, and he constantly sought out new information and ideas. He was a voracious reader and a regular attendee of lectures and seminars.

A Legacy of Wisdom

Charlie Munger's legacy is immense. He was a giant of the investment world, a pioneer of value investing, and a wise and witty observer of human nature. His insights will continue to be studied and valued for generations to come.

Here are some of Munger's most famous quotes:

• "The best way to get what you want is not to want it in the first place."
• "The difference between ordinary and extraordinary results is not that ordinary people work less; it's that they work differently."
• "Invert, always invert—turn a problem inside out and look at it from the opposite perspective."
• "If you want to be wise, learn to be a good listener."
• "The most important thing is to know what you don't know."

Charlie Munger was a true original. He was a man of deep intellect, boundless curiosity, and unwavering integrity. He will be deeply missed by all who knew him.