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Charlie Munger, Renowned Investor And Longtime Business Partner Of Warren Buffett, Passes Away

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Charlie Munger, the influential investor and longtime vice chairman of Berkshire Hathaway, has passed away at the age of 99. Alongside Warren Buffett, Munger played a crucial role in transforming Berkshire Hathaway into a multi-billion dollar conglomerate.

Known for his value investing approach, Munger favored purchasing stocks when their share prices were low compared to their fundamental value. Simultaneously, he recognized the importance of trusted brands and growth in investment strategies.

Berkshire Hathaway, under Munger’s influence, made substantial investments in numerous well-known companies, including Kraft Heinz, Bank of America, and Coca-Cola.

The conglomerate’s diverse portfolio extended to car companies, grocery stores, and insurers.

“Berkshire Hathaway could not have been built to its present status without Charlie’s inspiration, wisdom and participation,” Buffett said, in a statement.

Munger’s guiding principle was simplicity, and his partnership with Buffett, originating from their connection in Omaha, Nebraska, proved instrumental in their success.

“I can’t think of a single example in my whole life where keeping it simple has worked against us,” he told Yahoo! Finance in an interview. “We’ve made mistakes, but they weren’t because we kept it simple.”

After serving in the U.S. Army, Munger attended Harvard Law School and later founded the law firm Munger, Tolles & Olson in Los Angeles.

While Warren Buffett may be more widely recognized, Munger’s significant role in their unique business partnership remains a crucial aspect of their collective success.

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