Charlie Munger

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Charlie Munger
Nascimento 1 de Janeiro de 1924
Omaha, Nebraska
Ocupação Investidor
Fortuna $1.7 mil milhões

Charles Munger (nascido a 1 de Janeiro de 1924, em Omaha, Nebraska, EUA) é o vice-presidente da Berkshire Hathaway, a companhia de investimento diversificado presidida por Warren Buffett.

Como Buffett, Munger é um nativo de Omaha. Após estudar e fazer o serviço militar na marinha dos EUA, ele entrou para a escola de direito de Harvard sem um grau de bacharelato. Licenciou-se em 1948, ele fundou e trabalhou como um advogado de imobiliário na Munger, Tolles & Olson LLP até 1965. Nesse momento ele desistiu da advocacia para se concentrar em gerir investimentos.

Munger is also the chairman of Wesco Financial Corporation, an 80.1%-owned subsidiary of Berkshire Hathaway. It began as a savings and loan association, but now controls Precision Steel Corp., CORT Furniture Leasing, Kansas Bankers Surety Company, and other ventures. Wesco Financial has an equity portfolio of over $1 billion dollars that is concentrated in Coca-Cola, American Express, Wells Fargo, and Procter & Gamble. A single stock can make up 50% of the value of the entire portfolio. Munger believes that holding a concentrated number of stocks, that he knows extremely well, will in the longterm produce superior returns. Wesco is based in Pasadena, California, Munger's adopted hometown and the site of the company's annual shareholders' meeting. Munger's meetings are nearly as legendary in the investment community as those he co-hosts with Buffett in Omaha. Such meetings are often perfunctory, but Munger interacts with the other Wesco shareholders at considerable length, sometimes speculating about what his hero Benjamin Franklin would do in a given situation.

Buffett has often publicly stated that he regards Munger as his "partner". Indeed, Munger owns enough Berkshire Hathaway stock to be a bona fide billionaire in his own right. However, Munger is hardly a carbon copy of Buffett: Munger is known to be a Republican, whereas Buffett has generally supported Democrats. Buffett devotes his time almost exclusively to his business, while Munger, who has not involved himself in the day-to-day operations of Berkshire for many years, is a generalist for whom investment is only one of a broad range of interests. Each man feels that their differences complement rather than detract from their relationship. Both were ardent supporters of abortion-rights even before Roe v. Wade ([1]).

In 1991, the investment bank Salomon Brothers was caught submitting false bids to the U.S. Treasury in an attempt to manipulate bond pricing in its favor between December 1990 and May 1991. At the time, Berkshire Hathaway owned 14% of Salomon Brothers and Munger was a director of Salomon Brothers Inc.

Munger donated 500 shares of Berkshire Hathaway Class A stock, worth $43.5 million, to Stanford University to build a housing complex for Stanford Law School. He previously donated funds to help restore the Green Library after extensive damage by the Loma Prieta Earthquake, for which he is recognized on a plaque outside the restored Bing Wing. While he did not attend Stanford, his first wife, Nancy Munger, was an alumna and served on the Board of Trustees. Their daughter, Wendy Munger (A.B., 1972, Stanford University) is currently member of the board. In 2007, he donated funds for renovations at the University of Michigan Law School.

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