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Summary

Charlie Munger is an American investor, businessman, and philanthropist. He is vice chairman of Berkshire Hathaway, the conglomerate controlled by Warren Buffett. Buffett has described Munger as his partner. Munger served as chairman of Wesco Financial Corporation from 1984 through 2011. He is also chairman of the Daily Journal Corporation, based in Los Angeles, California, and a director of Costco Wholesale Corporation.

Munger was born in Omaha, Nebraska. As a teenager he worked at Buffett & Son, a grocery store owned by Warren Buffett's grandfather. After enrolling in the University of Michigan, where he studied mathematics, he never returned to Omaha except to visit.

In early 1943, a few days after his 19th birthday, he dropped out of college to serve in the US Army Air Corps, where he became second lieutenant. He continued his studies in meteorology at Caltech in Pasadena, California, the town he was to make his home. Through the GI Bill, he took a number of advanced courses through several universities; without an undergraduate degree, he entered Harvard Law School and graduated magna cum laude with a JD in 1948. At Harvard, he was a member of the Harvard Legal Aid Bureau.

In college and the army, he developed "an important skill": card playing.

“What you have to learn is to fold early when the odds are against you, or if you have a big edge, back it heavily because you don't get a big edge often. Opportunity comes, but it doesn't come often, so seize it when it does come.” - Charlie Munger

©2018 Chase Archibald (P)2018 Chase Archibald

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