Turned 99 years old: Charlie Munger was best known for his direct sayings in the investment scene
Photo: © Lane Hickenbottom / Reuters / REUTERS
Charlie Munger, who died on Tuesday at the age of 99, was one of the world's best-known investors. For decades, he celebrated one success after another at the side of Warren Buffett (93) at the head of the US investment holding Berkshire Hathaway. He was Vice-Chairman of the Board of Directors and one of the company's largest shareholders. This also made him a billionaire.
The two investment professionals' flair for good business ensured that Berkshire's investments in various companies performed significantly better than the stock market as a whole over the years. Anyone who invested $1960,1000 in Berkshire Hathaway securities in the mid-10s now has more than $<> million.
Rugged, humorous, direct
Investors liked Munger's not only professional knowledge, but also his sense of humour. While the Internet bubble burst around the year 2000, the top investor remarked succinctly and dryly: "If you mix raisins with feces, it remains excrement." Munger was similarly brusque in his assessment of cryptocurrencies, which he campaigned for to be banned this year because they were like gambling.
manager magazin has compiled ten of Munger's legendary sayings, enjoy.
mje with dpa