Johannes Eisele | AFP | getty images
Many investors mourned the passing of Charlie Munger, renowned investor and Warren Buffett’s vice chairman. Berkshire Hathaway, on Tuesday. Known for his quick wit and his role in the firm’s success, Munger’s legacy resonated throughout the investment world.
“Berkshire Hathaway could not have been built to its current position without Charlie’s inspiration, knowledge and involvement,” Buffett said in a press release. Buffett once credited Munger as the thinker behind Berkshire Hathaway’s business approach, saying that Munger once advised him to follow a “blueprint” to “buy wonderful businesses at reasonable prices” rather than the opposite. Had given.
Charles Bobrinsky of Aerial Investments called Munger a “true master of investing” on CNBC’s “Closing Bell: Overtime” shortly after the news was released. “He was a really important voice in value investing and all investing,” he said.
Mohammed El-Erian, chief economic adviser at Allianz and former chief executive of PIMCO, spoke about the unique power relationship between Munger and Buffett in an interview. statement Tuesday evening.
“I am deeply saddened to hear the news of Charlie Munger’s passing,” El-Erian wrote. “For so many decades, the two of them led an investment superpower that vastly improved the lives of many people… and, in the process, they demonstrated time and again the power of collaboration, synergy, and common sense.”
Mario Gabelli, president and CEO of Connecticut-based GAMCO Investors, wrote On Twitter: “Charlie Munger…a titan gone…charlie will be missed by all.”
Investors familiar with Munger also issued messages on his death. Munger died peacefully in a California hospital on Tuesday morning, according to a Berkshire Hathaway press release.
Stephanie Link, chief investment strategist at Hightower Advisors, described Munger as “full of life” and said the famous investor “has taught us a lot over the last few years.”
Some of those lessons went beyond investing, and were part of the reason hundreds of investors flocked to Berkshire Hathaway’s annual meeting every year. Value investor Whitney Tilson considers herself one of them.
“He was always telling stories about how people who had it all ruined themselves, (and) that really had a big impact on my life,” Tilson, Stanberry’s research editor, told CNBC.
“Charlie Munger was a fantastic lawyer,” Annandale Capital Chairman George C. Said Tuesday evening on Yahoo Finance. “He wasn’t just a great investor with Buffett. He was a very accomplished lawyer. He was a Renaissance man. He was good at many things.”
In addition to his tenure as Berkshire vice chairman, Munger was also an architect, real estate lawyer, chairman and publisher of Daily Journal Corp., Costco board member, and philanthropist.
Wesley Chan, co-founder and managing partner of venture capital firm FPV, wrote in a LinkedIn post Tuesday evening celebrating Munger’s life.
Chan said, “In Charlie, I take solace in the fact that you’re usually going against the grain to avoid the mistakes other people make because of bad incentives, greed, paranoia, or peer pressure. ” “This is something I take to heart as an investor and as a friend of many founders who also have their own solo journeys.”
—CNBC’s Christina Cheddar Burke, Brian Evans and Alex Haring contributed to this report.
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