Charlie Munger, Warren Buffett’s trusted lieutenant who helped to build Berkshire Hathaway into a US$784 billion investment behemoth from a failing textile company, has died. The Berkshire vice-chairman was 99.
A former lawyer, Munger was a value investor who believed in the philosophy of long-term investments and companies’ intrinsic value. In their years together, the canny investment duo picked out dozens of winners, turning them into demigods in the eyes of adoring investors. Their Midas touch includes a phenomenal 30-fold return on Chinese electric-vehicle maker BYD.
Munger’s portfolio, held through his investment vehicle, US publishing company Daily Journal, included many other Chinese companies such as e-commerce giant Alibaba Group Holding. Munger was the board chairman of Daily Journal.
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