Charlie Munger, investing genius & Warren Buffett's longtime business partner, dies at 99 | Oneindia - video Dailymotion

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Warren Buffett's trusted confidante Charlie Munger died on Tuesday at age 99, leaving a void at Berkshire Hathaway that investors said would be impossible to fill despite the conglomerate's well-established succession plan. Berkshire said Munger died peacefully at a hospital in California, where he lived. Munger would have turned 100 on January 1.    #CharlieMunger #CharlieMungerDeath #CharlieMungerPassesAway #WarrenBuffet #BerkshireHathaway #CharlieMungerDeathNews #CharlieMungerDiesNews #WarrenBuffetConfidante #CharlieMungerWarrenBuffet #CharlieMungerWealth                  ~HT.178~PR.152~ED.155~GR.121~

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00:00 Warren Buffet's trusted confidant Charlie Munger died on Tuesday at age 99, leaving

00:08 a void at Berkshire Hathaway that investors said would be impossible to fill despite the

00:13 conglomerate's well-established succession plan.

00:17 Berkshire said Munger died peacefully at a hospital in California, where he lived.

00:23 Munger would have turned 100 on January 1.

00:26 Mr Munger was the altered ego of Warren Buffet for almost 60 years as they transformed Berkshire

00:32 Hathaway Inc. from a failing textile maker into an empire.

00:37 Berkshire Hathaway could not have been built to its present status without Charlie's inspiration,

00:42 wisdom and participation, Buffet, Berkshire's 93-year-old chairman and chief executive,

00:49 said in a statement.

00:51 Like Buffet, Munger was born and brought up in Omaha, Nebraska, the two met as adults

00:56 in 1959 and forged a friendship that lasted more than 60 years.

01:01 Munger joined Buffet at Berkshire Hathaway as vice chairman in 1978 and helped transform

01:06 it from a small textile company into a gigantic conglomerate, now valued at more than $780

01:13 billion.

01:14 Unlike Buffet's vast fortune, Charlie Munger's wealth is estimated at a more modest $2.6

01:20 billion, although he has donated most of his wealth to charity during his lifetime.

01:26 Munger never officially retired from his role at Berkshire Hathaway.

01:30 In a 2017 interview, Buffet credited Munger with changing his views on investment for

01:35 the better.

01:36 He refined them in a huge way, in terms of looking for the quality companies and looking

01:41 out for the ability to make an investment that will work out for 5 or 10 or 20 years,

01:46 as opposed to something where there might be one more puff left in the cigar, Buffet

01:51 had said.

01:52 Tributes from all corners started pouring in following Munger's death.

01:56 Apple CEO Tim Cook posted a heartfelt tribute to Mr Munger.

01:59 He wrote, "A titan of business and keen observer of the world around him, Charlie Munger helped

02:05 build an American institution and through his wisdom and insights inspired a generation

02:09 of leaders.

02:10 He will be solely missed.

02:12 Rest in peace, Charlie."

02:13 Andrew Wilkinson, co-founder of Tiny Capital wrote, "We have lost one of the 20th century's

02:18 greatest investors and businessmen."

02:20 Vivek Singhal, founder of B. Spartans Consultants wrote, "He has been an inspiration to me and

02:26 I love his five-page article published in the book 'The Psychology of Money'.

02:30 Working until his last days is commendable and he shared his wisdom with the world through

02:35 the annual shareholders' meeting of Berkshire Hathaway.

02:38 I consider him the most commendable man in the equity investing community."

02:43 Berkshire is unlikely to replace Munger and has not publicly discussed any need or desire

02:47 to do so.

02:48 Two other vice-chairmen, Greg Abel and Ajit Jain, have day-to-day oversight of Berkshire's

02:54 non-insurance and insurance businesses, respectively.

02:58 Munger's death comes one week after Buffet donated about $866 million of Berkshire's

03:03 stock to four family charities and issued a rare shareholder letter acknowledging that

03:08 his own time was finite in the twilight of his own storied investing career.

03:13 In last week's letter, Buffet said Berkshire was built to last and would remain in good

03:17 hands without him.

03:27 [MUSIC PLAYING]

Charlie Munger, investing genius & Warren Buffett's longtime business partner, dies at 99 | Oneindia

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