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Lesser known facts about Charlie Munger, Warren Buffet’s second and accomplicehttps://www.businessinsider.in/thelife/personalities/webstories/lesser-known-facts-about-charlie-munger-warren-buffets-second-and-accomplice/slidelist/105582845.cms2023-11-29T11:36:40+05:30

Lesser known facts about Charlie Munger, Warren Buffet’s second and accomplice

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Anagh PalNov 29, 2023, 11:36 IST

Lesser known facts about Charlie Munger, Warren Buffet’s second and accomplice — Charlie Munger and Warren BuffetBCCL
Charlie Munger, one of 20th century's most known investors, passed away last night. Munger played an instrumental role in building Berkshire Hathaway into an investment behemoth along with Warren Buffet.
Munger's impact extended beyond finance; his philosophy on life, decision-making, and ethical principles inspired and guided many, leaving an indelible mark on generations to come.
Here are a few lesser known facts about Charlie Munger.

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How Munger met Warren Buffet

How Munger met Warren Buffet — BCCL
In 1959, Munger, then a lawyer in Southern California, and Buffett, managing an investment partnership in Omaha, first crossed paths at a dinner in Omaha. They quickly connected, maintaining contact through frequent calls and extensive letters, as detailed in Munger's book "Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger."

Sharing investment ideas and investing together in various companies during the '60s and '70s, Munger later joined Buffett at Berkshire Hathaway in 1978 as its vice chairman. Munger played a pivotal role in guiding Berkshire for over fifty years.

He lost all his possessions when he got divorced

He lost all his possessions when he got divorced — BCCL
After an eight-year marriage, Munger lost all his possessions, including his South Pasadena home, to his ex-wife. Janet Lowe's revealing biography recounts Munger's move to less-than-desirable accommodations at Pasadena's University Club, driving a poorly repainted yellow Pontiac, which made him seem financially destitute.

When questioned by his daughter about the car's poor condition, Munger jokingly replied that it was to ward off ‘gold-diggers’.

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He lost his son to cancer

He lost his son to cancer — BCCL
Shortly following the divorce, Munger faced another ordeal when his 9-year-old son, Teddy, was diagnosed with leukaemia. Back then, survival rates for cancer were very low, and Munger had to cover all expenses as there was no health insurance.

Munger's friend, Rick Guerin, recounted Munger's heart-wrenching routine of visiting the hospital, holding his dying son, and then wandering the streets of Pasadena in tears. Tragically, Teddy passed away a year later in 1955.

He lost one eye and resolved to learn Braille

He lost one eye and resolved to learn Braille — BCCL
After a traumatic cataract surgery left Charlie Munger in excruciating pain and resulted in the removal of one eye, he faced the potential of losing sight in his remaining eye due to a blood-filling condition.

Fearing the loss of vision, he resolved to learn Braille but, fortunately, his eye condition improved before fully embracing it, leaving Munger relieved yet prepared for whatever challenges lay ahead.

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