Charlie Munger passes away aged 99 in California, USA. He was the vice-chairman of Berkshire Hathaway, the investing firm controlled largely by Warren Buffett. The reason of death remains undisclosed.
Charlie Munger, the right-hand of Investor aficionado, is a big loss to the world and investor community. His principles and mantras have been guiding force to many generations of investors globally.
"It's not the strongest or the most intelligent who will survive but those who can best manage change."
"The big money is not in the buying and selling, but in the waiting."
"The first rule of a happy life is low expectations."
"Invert, always invert: Turn a situation or problem upside down. Look at it backward."
Spend each day trying to be a little wiser than you were when you woke up. Day by day, and at the end of the day-if you live long enough-like most people, you will get out of life what you deserve.
Warren and I don’t focus on the froth of the market. We seek out good long-term investments and stubbornly hold them for a long time.