NewsBytes
    Hindi Tamil Telugu
    More
    In the news
    Narendra Modi
    Amit Shah
    Box Office Collection
    Bharatiya Janata Party (BJP)
    OTT releases
    Hindi Tamil Telugu
    NewsBytes
    User Placeholder

    Hi,

    Logout

    India
    Business
    World
    Politics
    Sports
    Technology
    Entertainment
    Auto
    Lifestyle
    Inspirational
    Career
    Bengaluru
    Delhi
    Mumbai

    Download Android App

    Follow us on
    • Facebook
    • Twitter
    • Linkedin
    Home / News / Business News / 'Never argued': Tracing Charlie Munger and Warren Buffett's 60-year-old friendship
    Next Article
    'Never argued': Tracing Charlie Munger and Warren Buffett's 60-year-old friendship
    Munger formally joined Berkshire Hathaway in the mid-1970s and by 1978, he became Vice Chairman, a position he retained until his passing

    'Never argued': Tracing Charlie Munger and Warren Buffett's 60-year-old friendship

    By Rishabh Raj
    Nov 29, 2023
    02:33 pm

    What's the story

    The tale of Charlie Munger and Warren Buffett will go down in the history books, showcasing the everlasting bond of an extraordinary friendship.

    Those with even a passing interest in the stock markets would probably be familiar with these two figures and their decades-long friendship.

    Munger, who was Berkshire Hathaway's Vice Chairman, passed away on November 29. He was 99.

    Let's take a look at how they first met and how their friendship developed over the years.

    Details

    Their first meeting was sparked by a mutual acquaintance

    In 1957, Dr. Edwin Davis, a mutual friend, noticed similarities between Buffett and Munger in how they managed money and was determined to introduce them to each other.

    However, their formal introduction didn't occur until 1959 when Munger returned to Omaha after his father's death.

    The duo was then introduced at a dinner where Munger's contagious humor immediately clicked with Buffett.

    From that moment, they embarked on a partnership that would go on to reshape the landscape of investing.

    Details

    Munger joined Berkshire Hathway in mid-1970s

    Munger, already established as a lawyer and investment manager, found in Buffett and Berkshire Hathaway an opportunity to channel his expertise and vision.

    Formally joining Berkshire Hathaway in the mid-1970s, Munger's ascent was rapid. By 1978, he held the position of Vice Chairman, a role he retained until his passing.

    In a 2021 interview with CNBC, Buffett recounted how he knew from the moment they met over dinner that Munger would be in his life forever.

    What Next?

    'We have never had an argument'

    An interesting fact is that the two never argued during their six-decade-long friendship.

    "We have never had an argument, really, in 62 years, and it's not that we agree on everything," Buffett said at Berkshire Hathaway's annual shareholders meeting in 2021.

    Despite differing viewpoints on investments, Munger, in an interview, said "Luckily there's no conflict, and Warren and I don't have to agree on every damn little thing we do. We've gotten along pretty well."

    Insights

    Munger highly influenced Buffett's investment approach 

    Munger's impact on Buffett's investment approach was profound.

    He urged Buffett to focus on high-quality, undervalued assets, a hallmark of their value investing style that became synonymous with Berkshire Hathaway.

    Buffett said in a 2017 interview, "He refined them in a huge way, in terms of looking for the quality companies, and looking out for the ability to make an investment that will work out for five or 10 or 20 years."

    Facts

    Their partnership went beyond financial success

    Their partnership wasn't just about financial success. It was grounded in a shared philosophy of long-term investment and a firm refusal to follow market trends.

    Buffett often praised Munger's concise thinking, noting how Munger could summarize ideas in a sentence while it might take Buffett a whole page.

    "Charlie and I think pretty much alike. But what it takes me a page to explain, he sums up in a sentence," Buffett wrote in his 2022 letter to shareholders.

    Insights

    Munger's investment philosophy and multidisciplinary approach

    Munger was known for his long-term value investing approach and multidisciplinary thinking.

    He believed in conducting thorough research and understanding every aspect of a business before making investment decisions.

    A lifelong learner and avid reader, he continuously sought to expand his knowledge in fields such as human nature, psychology, economics, physics, biology, and history.

    His insights and wisdom have been compiled into books like Poor Charlie's Almanack and The Tao of Charlie Munger.

    Facebook
    Whatsapp
    Twitter
    Linkedin
    Related News
    Latest
    Warren Buffett
    Berkshire Hathaway
    Stock Market

    Latest

    Google just gave Android phones new features to thwart scammers Google
    Gemini AI is coming to everything—including your TV and car Android Auto
    Google announces Wear OS 6 with Gemini AI, new design Android
    Google debuts Material Three Expressive, Android's most vibrant design yet Android

    Warren Buffett

    Warren Buffett's Dow investment could face losing $8/second bonus streak Michigan
    Warren Buffett hits back at Trump about taxes Donald Trump
    Forbes 2017 Billionaires list is finally out Forbes
    Dalal Street: Who rules it? India

    Berkshire Hathaway

    Apple to abandon development of Wireless routers Apple
    Amazon's $1,000 share price is a signal of changing times Amazon
    Ajit Jain, Gregory Abel: Potential Warren Buffett successors at Berkshire Bill Gates
    Zuckerberg becomes world's third richest man, overtakes Warren Buffett Facebook

    Stock Market

    Lupin's shares reach 52-week high following impressive Q2 earnings Business
    Sensex slips over 140 points, Nifty settles below 19,400 mark Sensex
    Ashok Leyland's Q2 profit grows 220% YoY to Rs. 526cr Business
    Sensex closes at 64,904 points, Nifty settles above 19,420 mark Sensex
    Indian Premier League (IPL) Celebrity Hollywood Bollywood UEFA Champions League Tennis Football Smartphones Cryptocurrency Upcoming Movies Premier League Cricket News Latest automobiles Latest Cars Upcoming Cars Latest Bikes Upcoming Tablets
    About Us Privacy Policy Terms & Conditions Contact Us Ethical Conduct Grievance Redressal News News Archive Topics Archive Download DevBytes Find Cricket Statistics
    Follow us on
    Facebook Twitter Linkedin
    All rights reserved © NewsBytes 2025