Why Warren Buffett wouldn't have become the greatest investor ever without Charlie Munger
Publishing timestamp: 2023-11-29 11:26:01
Summary
Charlie Munger, vice chairman of Berkshire Hathaway, passed away at the age of 99. Munger was instrumental in guiding Warren Buffett towards buying strong-brand quality companies instead of cheap failing ones. Munger's influence helped Berkshire Hathaway grow into an empire consisting of first-class businesses. Buffett compared buying troubled companies at deep discounts to picking up discarded cigar butts, but Munger made him realize that this strategy had limitations. Munger convinced Buffett to purchase See's Candies in 1972, which turned out to be a significant success for Berkshire Hathaway. Overall, Munger's influence helped Buffett build a collection of wonderful companies.
Sentiment: POSITIVE
Tickers: BRK.A,
Keywords: breaking news: markets, berkshire hathaway inc, markets, breaking news: business, business news, investment strategy, stock markets, wall street, breaking news: investing,