Charlie Munger
Charlie Munger was born in Omaha, Nebraska, United States on January 1st, 1924 and is the Entrepreneur. At the age of 100, Charlie Munger biography, profession, age, height, weight, eye color, hair color, build, measurements, education, career, dating/affair, family, news updates, and networth are available.
At 100 years old, Charlie Munger physical status not available right now. We will update Charlie Munger's height, weight, eye color, hair color, build, and measurements.
Investment career
Munger and his family migrated to California, where they joined law firm Wright & Garrett (later Musick, Peeler & Garrett). He formed Tolles & Olson LLP in 1962 and spent time as a real estate advocate. He left the practice of law to concentrate on managing investments, eventually joining Otis Booth in real estate development. He then joined Wheeler, Munger, and Company, an investment group with a seat on the Pacific Coast Stock Exchange, after partnering with Jack Wheeler. In 1976, he began Wheeler, Munger, and Co., after losses of 32% in 1973 and 31% in 1974.
Despite the fact that Munger is best known for his friendship with Buffett, he operated a successful investment company from 1962 to 1975. Munger's investment partnership delivered compound annual returns of 19.8% in comparison to the Dow's 5.0% annual appreciation rate.
Munger was previously the chairman of Wesco Financial Corporation, which now belongs to Berkshire Hathaway's wholly owned subsidiary. Following allegations that Buffet's company, Blue Chip, bought Wesco stock to prevent an impending merger between Wesco and Financial Corp., Wesco began as a savings and loan broker group, but it later expanded to include Precision Steel Corp., CORT Furniture Leasing, Kansas Bankers Surety Company, and other ventures. Wesco Financial also invested over US$1.5 billion in companies such as Coca-Cola, Wells Fargo, Procter & Gamble, Kraft Foods, US Bancorp, and Goldman Sachs. Munger believes that owning a diversified number of stocks that he knows extremely well will result in higher returns in the long run.
Wesco is headquartered in Pasadena, California, Munger's adopted hometown. After the more popular Berkshire Hathaway annual meeting, Pasadena was also the site of the company's annual shareholders' meeting, which were often held on Wednesday or Thursday. Munger's meetings in Omaha were almost as popular in the investment community as those he co-hosts with Buffett. Such meetings were often formal, but Munger spoke with other Wesco shareholders for a long time, often speculateing about what Benjamin Franklin would do in a given situation. The Futile Finance discussion has been posted on the Futile Finance website. There are websites on the internet, but no updates are available as of 2011.
Munger is also the chairman of the Daily Journal Corporation. Since Wesco's meetings ended, the Daily Journal's annual meeting has increased in importance, as investors flock to the meeting to hear him speak at length.