Even though he's been Warren Buffett's partner at Berkshire Hathaway for more than 30 years, Charlie Munger runs a very distant second to the Oracle of Omaha in name recognition. That's a shame for a couple of reasons.
First, Munger has had an enormous influence on what we all now think of as the core Buffett investment philosophy of buying wonderful companies at fair prices.
Prior to meeting Munger, Buffett hewed closely to the price-conscious and quality-agnostic approach of mentor Ben Graham, and it's fair to say that Berkshire's ownership of companies like See's Candy, Coca-Cola and (more recently) Anheuser-Busch, can be traced to Munger's influence. (We also own Coke and Budweiser in our Tortoise model portfolio.)
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First, Munger has had an enormous influence on what we all now think of as the core Buffett investment philosophy of buying wonderful companies at fair prices.
Prior to meeting Munger, Buffett hewed closely to the price-conscious and quality-agnostic approach of mentor Ben Graham, and it's fair to say that Berkshire's ownership of companies like See's Candy, Coca-Cola and (more recently) Anheuser-Busch, can be traced to Munger's influence. (We also own Coke and Budweiser in our Tortoise model portfolio.)
Read the complete article
