Publish a collection of dragon cards to divide millions of cash Charlie Munger - Berkshire Hathaway's architect.
Charlie Munger passed away on November 28, 2023, just 33 days after his 100th birthday.
Although he was born and raised in Omaha, Nebraska, he lived elsewhere for 80 percent of his life. So it wasn't until 1959, when he was 35 years old, that I met him for the first time. By 1962, he had decided that it was time to start working in treasury management.
Three years later, he told me—and this is a very correct thing—that my decision to buy Berkshire was foolish. However, he assured me that now that I had taken action, he would tell me how to correct my mistakes.
In the narrative that follows, please remember that Charlie and his family did not invest a penny in the small investment partnership I was managing at the time, and it was with that money that I bought Berkshire. Moreover, none of us thought at the time that Charlie would own Berkshire shares.
However, Charlie immediately advised me in 1965: "Forget about buying other companies like Berkshire, Wollen." But now that you control Berkshire, go and increase the good ones that buy them at fair prices and let go of the good ones that buy the average ones at the best price. In other words, throw away everything you've learned from your hero, Ben Graham. 這個方法有效,但只有在小規模操作時纔行。 "After many times of looking back, I finally followed his instructions.
Years later, Charlie became my partner when I ran Berkshire, and repeatedly pulled me back to his senses when I fell into habits. He held that role until his death, and we, along with those who invested with us in the early days, ended up achieving far more than Charlie and I had ever imagined.
In reality, Charlie is now the "architect" in Berkshire, and I play the role of "general contractor", working day in and day out to make his vision come true.
Charlie never tried to get credit for his role as a creator, but let me accept the applause and honor. In a sense, his relationship with me was both like that of an older brother and of a loving father. Even when he knew he was right, he gave me control, and when I (eventually realized) the mistake, he never—never—repeatedly—the mistake I made.
In the world of matter, great buildings are connected to their architects, and those who build concrete or install windows are quickly forgotten. Berkshire has grown into a great company. Although I have been in charge of the construction team for a long time, Charlie should always be considered an architect.