Charlie Munger's Investment Results
An investment company that has been the best friend of famous American investor Warren Buffett for 60 years $Berkshire Hathaway-B (BRK.B.US)$The millionaire Charlie Munger, who also served as the vice chairman of, passed away on the 28th. I was 99 years old.
It is known that in public places where tens of thousands of people gather, such as the annual general meeting in Berkshire, Mr. Munger handed over the microphone and the limelight to Mr. Buffett and made the audience laugh by stating “I have nothing in particular to add.”
Meanwhile, in private, there were many situations where Mr. Buffett followed Mr. Munger. In 1971, Mr. Munger persuaded Mr. Buffett and bought Seed's Candies, which sells chocolate confectionaries, at a price equivalent to 3 times its net worth. Mr. Buffett later recalled that “it was an exorbitant price,” but seeds have brought cumulative profits of about 2 billion dollars (295 billion yen) to Berkshire over decades.
Mr. Buffett said in 2015, “With this acquisition, I made a 'cigar bat' investment, that is, a mediocre enterprise at a bargain price...