Charlie Munger#Lollapalooza effect

Charles Thomas Munger was born on January 1, 1924, in Omaha, Nebraska, to Florence "Toody" (Russell) and Alfred Case Munger, a lawyer. As a teenager, he worked at Buffett & Son, a grocery store owned by Warren Buffett's grandfather, Ernest P. Buffett.{{cite web|url=http://www.valuewalk.com/charlie-munger-page|title=Charlie Munger: Background & bio|date=December 26, 2011 |publisher=Value Walk|access-date=March 8, 2016}}{{Cite web|url=https://www.cnn.com/2014/06/11/us/charlie-munger-fast-facts/index.html|title=Charlie Munger Fast Facts|last=Library|first=C. N. N.|website=CNN|date=June 11, 2014|access-date=February 1, 2019|archive-date=February 2, 2019|archive-url=https://web.archive.org/web/20190202042637/https://www.cnn.com/2014/06/11/us/charlie-munger-fast-facts/index.html|url-status=live}} His grandfather, Thomas Charles Munger, was a state representative and later a U.S. district court judge appointed by Theodore Roosevelt.{{Cite web|url=https://www.ned.uscourts.gov/public/judicial-archive/munger-t-c|title=Munger, Thomas Charles | District of Nebraska | United States District Court|website=www.ned.uscourts.gov|access-date=June 28, 2019|archive-date=March 28, 2020|archive-url=https://web.archive.org/web/20200328081402/https://www.ned.uscourts.gov/public/judicial-archive/munger-t-c|url-status=live}}

He enrolled in the University of Michigan, where he studied mathematics. During his time in college, he joined the fraternity Sigma Phi Society.{{cite web |last1=Imrie |first1=Mike |title=The Sigma Phi Flame |url=https://cdn.ymaws.com/www.sigmaphi.org/resource/collection/0247A1C0-101C-4A2E-9657-F9A5ACBD2913/Flame_200412.pdf |website=Sigma Phi |access-date=May 8, 2019 |archive-date=May 8, 2019 |archive-url=https://web.archive.org/web/20190508144404/https://cdn.ymaws.com/www.sigmaphi.org/resource/collection/0247A1C0-101C-4A2E-9657-F9A5ACBD2913/Flame_200412.pdf |url-status=live}} In early 1943, a few days after his 19th birthday, he dropped out of college to serve in the U.S. Army Air Corps, where he became a second lieutenant. After receiving a high score on the Army General Classification Test, he was ordered to study meteorology at Caltech in Pasadena, California,Lemann, p. 189. the town he was to make his home.

Through the G.I. Bill, Munger took a number of advanced courses through several universities. When he applied to his father's alma mater, Harvard Law School, the dean of admissions rejected him because Munger had not completed an undergraduate degree. However, the dean relented after a call from Roscoe Pound, the former dean of Harvard Law and a Munger family friend.{{Cite book|last=Lowe|first=Janet|url=https://books.google.com/books?id=LhMGSDiQghEC&q=Roscoe+Pound+charles+munger+dean&pg=PA37|title=Damn Right!: Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger|date=October 30, 2000|publisher=John Wiley & Sons|isbn=978-0-471-24473-8|language=en|quote="I was admitted over the objection of Dean Warren Abner Seavy through the intervention of family friend Roscoe Pound," Munger said.}} Munger excelled in law school,Lemann, p. 191. becoming a member of the Harvard Legal Aid Bureau and graduating in 1948 with a J.D., magna cum laude.{{Cite news|url=https://www.forbes.com/profile/charles-munger|title=The World's Billionaires #1324 Charles Munger|work=Forbes|date=October 31, 2014|access-date=August 25, 2017|archive-date=September 15, 2017|archive-url=https://web.archive.org/web/20170915025121/https://www.forbes.com/profile/charles-munger/|url-status=live}}{{cite web|url=http://hls.harvard.edu/dept/alumni/alumni-news/a-special-event|title=A Special Event|website=Harvard Law School Alumni Center|access-date=March 8, 2016|archive-url=https://web.archive.org/web/20160308225550/http://hls.harvard.edu/dept/alumni/alumni-news/a-special-event/|archive-date=March 8, 2016|url-status=dead}}

In college and the Army, he developed what he considered "an important skill": card playing. He used this in his approach to business. "What you have to learn is to fold early when the odds are against you, or if you have a big edge, back it heavily because you don't get a big edge often. Opportunity comes, but it doesn't come often, so seize it when it does come." He also used the card analogy to explain his approach to investing. He maintained that treating the shares of a company like baseball cards is a losing strategy because it requires one to predict the behavior of often irrational and emotional human beings.{{Cite book |last=Griffin |first=Tren |title=Charlie Munger: The Complete Investor |publisher=Columbia University Press |year=2015 |isbn=978-0-231-17098-7 |location=New York |pages=24 |language=en}}

Munger moved with his family to California, where he joined the law firm Wright & Garrett (later Musick, Peeler & Garrett).{{Cite book |last=Lowe |first=Janet |title=Damn Right!: Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger |publisher=John Wiley & Sons |year=2000 |isbn=0-471-24473-2 |location=New York |pages=253 |language=en}} In 1962, he founded and worked as a real estate attorney at Munger, Tolles & Olson LLP. He then gave up the practice of law to concentrate on managing investments and later partnered with Otis Booth in real estate development. When he met Buffett over lunch at the Omaha Club, "the two began talking about investments and never stopped."Jordan, Steve and Cordes, Henry J, "Charlie Munger, Berkshire vice chairman, dies at 99" Omaha World-Herald, November 29, 2023, pA7

In 1962, Munger partnered with Jack Wheeler to form Wheeler, Munger, and Company, an investment firm with a seat on the Pacific Coast Stock Exchange. According to Buffett's essay "The Superinvestors of Graham-and-Doddsville", published in 1984, Munger's investment partnership generated compound annual returns of 19.8% during the 1962–75 period compared to a 5.0% annual appreciation rate for the Dow.{{Cite news|url=http://www.safalniveshak.com/wp-content/uploads/2011/10/The-Superinvestors-of-Graham-and-Doddsville-by-Warren-Buffett.pdf|title=The Superinvestors of Graham-and-Doddsville|author=Warren Buffett|publisher=Safal Niveshak|date=Fall 1984|access-date=June 17, 2015|archive-date=September 6, 2015|archive-url=https://web.archive.org/web/20150906002607/http://www.safalniveshak.com/wp-content/uploads/2011/10/The-Superinvestors-of-Graham-and-Doddsville-by-Warren-Buffett.pdf|url-status=live}} He wound up Wheeler, Munger, and Co. in 1976, after losses of 32% in 1973 and 31% in 1974.

Munger was previously the chairman of Wesco Financial Corporation, now a wholly-owned subsidiary of Berkshire Hathaway. The acquisition of this company was controversial following accusations that Buffett's company, Blue Chip, bought Wesco shares to defeat an impending merger between Wesco and Financial Corp.{{Cite book |last1=Benello |first1=Allen C. |title=Concentrated Investing: Strategies of the World's Greatest Concentrated Value Investors |last2=Biema |first2=Michael van |last3=Carlisle |first3=Tobias E. |publisher=John Wiley & Sons |year=2016 |isbn=978-1-119-01205-4 |location=Hoboken, NJ |pages=117 |language=en}}{{Cite news |last=Korman |first=Richard |date=June 8, 1997 |title=$45,000 a Share, $1,500 a Share or $264 a Share |language=en-US |work=The New York Times |url=https://www.nytimes.com/1997/06/08/business/45000-a-share-1500-a-share-or-264-a-share.html |access-date=September 22, 2022 |issn=0362-4331 |archive-date=September 22, 2022 |archive-url=https://web.archive.org/web/20220922020138/https://www.nytimes.com/1997/06/08/business/45000-a-share-1500-a-share-or-264-a-share.html |url-status=live }} Wesco began as a savings and loan association, but eventually grew to control Precision Steel Corp., CORT Furniture Leasing, Kansas Bankers Surety Company, and other ventures. Wesco Financial also held a concentrated equity portfolio of over US$1.5 billion in companies such as Coca-Cola, Wells Fargo, Procter & Gamble, Kraft Foods, US Bancorp, and Goldman Sachs. Munger believed that holding a concentrated number of stocks that he knew extremely well would in the long term produce superior returns.{{cite news|author=Jill Perry|url=http://www.caltech.edu/news/financier-munger-gives-dubridge-lecture-1381|title=Financier Munger Gives DuBridge Lecture|publisher=California Institute of Technology|date=January 29, 2008|access-date=June 18, 2015|archive-date=June 18, 2015|archive-url=https://web.archive.org/web/20150618220302/http://www.caltech.edu/news/financier-munger-gives-dubridge-lecture-1381|url-status=live}}

Wesco is based in Pasadena, California, Munger's adopted hometown. Pasadena was also the site of the company's annual shareholders' meeting, which were typically held on the Wednesday or Thursday after the more famous Berkshire Hathaway annual meeting. Munger's meetings were nearly as legendary in the investment community as those he co-hosted with Buffett in Omaha. Such meetings were often perfunctory, but Munger interacted with the other Wesco shareholders at considerable length, sometimes speculating about what Benjamin Franklin would do in a given situation.{{cite web|title=Whitney Tilson's 2007 Wesco Annual Meeting Notes|url=http://www.tilsonfunds.com/Whitney%20Tilson%27s%20notes%20from%20the%202007%20Wesco%20annual%20meeting-5-9-07.pdf|work=Tilson Funds|access-date=April 7, 2014|author=Whitney Tilson|date=May 9, 2007|archive-date=July 3, 2014|archive-url=https://web.archive.org/web/20140703003908/http://www.tilsonfunds.com/Whitney%20Tilson%27s%20notes%20from%20the%202007%20Wesco%20annual%20meeting-5-9-07.pdf|url-status=live}} Meeting notes have been posted on the Futile Finance? website, but no updates exist beyond 2011.{{cite web|title=Charlie Munger|url=http://futile.free.fr/3.html|work=Futile Finance?|access-date=April 7, 2014|author=Various|year=2014|archive-date=May 20, 2014|archive-url=https://web.archive.org/web/20140520002812/http://futile.free.fr/3.html|url-status=live}}

Munger was also the chairman of the Daily Journal Corporation. After Wesco meetings ended, the Daily Journal annual meeting grew in importance, as investors flocked to the meeting to listen to him speak at length.{{Citation|title=LIVE: Charlie Munger Speaks at Daily Journal Annual Meeting – Feb. 14, 2019| date=February 14, 2019 |url=https://www.youtube.com/watch?v=X1Oi3esiry8|language=en|access-date=October 3, 2019|archive-date=June 6, 2019|archive-url=https://web.archive.org/web/20190606035229/https://www.youtube.com/watch?v=X1Oi3esiry8|url-status=live}}

In multiple speeches, and in the 2005 book Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger, "worldly wisdom" consists of a set of mental models framed as a latticework to help solve critical business problems.

File:Peter Hilal, Warren Buffett, Paul Hilal, Charlie Munger.jpg

Munger, along with Buffett, was one of the main inspirations behind the book Seeking Wisdom: From Darwin to Munger. Author Peter Bevelin explained his key learnings from both Munger and Buffett in a 2007 interview: "How to think about businesses and investing, how to behave in life, the importance of ethics and honesty, how to approach problems but foremost how to reduce the chance of meeting problems." Bevelin stated that previously, he "was lacking the Munger ability to un-learn my own best-loved ideas".{{cite web|url=http://www.valueinvestingworld.com/2007/10/interview-with-peter-bevelin-author-of.html|title=Interview with Peter Bevelin, author of Seeking Wisdom – from Darwin to Munger|date=October 17, 2007|publisher=Google Inc.|work=Value Investing World|access-date=April 7, 2014|author=Joe Koster|archive-date=April 8, 2014|archive-url=https://web.archive.org/web/20140408224154/http://www.valueinvestingworld.com/2007/10/interview-with-peter-bevelin-author-of.html|url-status=live}}

Munger stated that high ethical standards were integral to his philosophy; at the 2009 Wesco Financial Corporation annual meeting he said, "Good businesses are ethical businesses. A business model that relies on trickery is doomed to fail."[https://www.latimes.com/archives/la-xpm-2009-may-17-fi-perfin17-story.html Charlie Munger's got a billion words of wisdom], May 17, 2009, Los Angeles Times, Accessed January 3, 2010 During an interview and Q&A session at Harvard-Westlake School on January 19, 2010, Munger referred to American philosopher Charles Frankel in his discussion on the 2008 financial crisis and the philosophy of responsibility. Munger explained that Frankel believed:

The system is responsible in proportion to the degree that the people who make the decisions bear the consequences. So to Charlie Frankel, you don't create a loan system where all the people who make the loans promptly dump them on somebody else through lies and twaddle, and they don't bear the responsibility when the loans are good or bad. To Frankel, that is amoral, that is an irresponsible system.{{cite web|url=https://www.scribd.com/doc/110302239/Munger-Talk-at-Harvard-Westlake|title=Munger Talk at Harvard-Westlake|date=17 October 2012|publisher=Scribd Inc.|work=Scribd (from Santangel's Review)|access-date=7 April 2014|archive-date=April 9, 2016|archive-url=https://web.archive.org/web/20160409204607/https://www.scribd.com/doc/110302239/Munger-Talk-at-Harvard-Westlake|url-status=live}}

As part of his philosophy Munger lived in the same relatively modest California home for 70 years. When asked about living in more luxurious homes, Munger was quoted as stating: "in practically every case, they make the person less happy, not happier.” Munger appreciated the utility of a "basic house" with few advantages over living in an ostentatious home. Munger appreciated modesty stating, "don't have a lot of envy" and "don't overspend your income". In Munger's last 2023 interview with CNBC he credited his success and longevity to a long-held sense of caution and ability "to avoid all standard ways of failing".{{cite news|url=https://www.cnbc.com/2023/12/01/charlie-munger-living-in-the-same-home-for-70-years-made-me-happier.html|title=Charlie Munger lived in the same home for 70 years: Rich people who build 'really fancy houses' become 'less happy'|date=December 1, 2023|work=CNBC|access-date=December 2, 2023|author=Ece Yildirim|archive-date=December 2, 2023|archive-url=https://web.archive.org/web/20231202000403/https://www.cnbc.com/2023/12/01/charlie-munger-living-in-the-same-home-for-70-years-made-me-happier.html|url-status=live}}

Munger used the term "Lollapalooza effect" for multiple biases, tendencies or mental models acting in compound with each other at the same time in the same direction. With the Lollapalooza effect, itself a mental model, the result is often extreme, due to the confluence of the mental models, biases or tendencies acting together, greatly increasing the likelihood of acting irrationally.Munger, C. T. (2005). [http://moiglobal.com/wp-content/uploads/charlie-munger-psychology-of-human-misjudgment.pdf The psychology of human misjudgment] {{Webarchive|url=https://web.archive.org/web/20180219104315/http://moiglobal.com/wp-content/uploads/charlie-munger-psychology-of-human-misjudgment.pdf |date=February 19, 2018}}. Poor Charlie's Almanack.

During a talk at Harvard in 1995 titled The Psychology of Human Misjudgment, Munger mentioned Tupperware parties and open outcry auctions, where he explained "three, four, five of these things work together and it turns human brains into mush,"{{cite web|url=http://www.rbcpa.com/mungerspeech_june_95.pdf|title=Charlie Munger on the Psychology of Human Misjudgment|date=June 1995|publisher=RBCPA|archive-url=https://web.archive.org/web/20161210061802/http://www.rbcpa.com/mungerspeech_june_95.pdf|archive-date=December 10, 2016|url-status=dead}} meaning that normal people will be highly likely to succumb to the multiple irrational tendencies acting in the same direction. In the Tupperware party, you have reciprocation, consistency, and commitment tendency, and social proof. (The hostess gave the party and the tendency is to reciprocate; you say you like certain products during the party so purchasing would be consistent with views you've committed to; other people are buying, which is the social proof.)

In the open outcry auction, there is social proof of others bidding, reciprocation tendency, commitment to buying the item, and deprivation super-reaction syndrome, i.e. sense of loss. The latter is an individual's sense of loss of what he or she believes should be (or is) his or hers. These biases often occur at either conscious or subconscious level, and in both microeconomic and macroeconomic scale.{{cite book|title=Poor Charlie's Almanack|publisher=Donning Company|isbn=1-57864-303-1|last1=Kaufman|first1=Peter|title-link=Poor Charlie's Almanack|year=2005}}{{cite book|url=https://books.google.com/books?id=igRaLAYvaCgC&q=Lollapalooza+Effect&pg=PA20|title=Managerial Economics|last=Hirschey|first=Mark|publisher=Cengage Learning|year=2008|page=20|access-date=March 29, 2011|isbn=9780324584844|archive-date=October 27, 2020|archive-url=https://web.archive.org/web/20201027155506/https://books.google.com/books?id=igRaLAYvaCgC&q=Lollapalooza+Effect&pg=PA20|url-status=live}}

Munger was critical of cryptocurrencies, referring to Bitcoin in particular as "noxious poison".{{Cite news|title=Bitcoin breaks £7,000... after Buffet investment chief calls it 'poison'|language=en-GB|work=Evening Standard|url=https://www.standard.co.uk/news/uk/bitcoin-breaks-7000-barrier-hours-after-warren-buffett-ceo-calls-it-a-noxious-poison-a3768396.html|access-date=February 16, 2018|archive-date=February 16, 2018|archive-url=https://web.archive.org/web/20180216183907/https://www.standard.co.uk/news/uk/bitcoin-breaks-7000-barrier-hours-after-warren-buffett-ceo-calls-it-a-noxious-poison-a3768396.html|url-status=live}} Munger also compared Robinhood to gambling, saying that its success is due to "people who know how to take advantage essentially of the gambling instincts of, not only American public, worldwide public" and further explained why he thinks individual investments without commission is tantamount to gambling. "If you cater to those gambling chips, when people have money in their pocket for the first time, and you tell them they can make 30 or 40 or 50 trades a day, and you're not charging them any commission, but you're selling their order flow or whatever, I hope we don't have more of it."{{Cite web|url=https://www.theregister.com/2021/05/03/berkshire_hathaway_annual_meeting_tech_highlights/|title=Bitcoin is 'disgusting and contrary to the interests of civilization' says famed investor Charlie Munger|first=Simon|last=Sharwood|website=www.theregister.com|access-date=May 3, 2021|archive-date=May 3, 2021|archive-url=https://web.archive.org/web/20210503144246/https://www.theregister.com/2021/05/03/berkshire_hathaway_annual_meeting_tech_highlights/|url-status=live}} He also said the use of cryptocurrency should be banned and said it was "beneath contempt";{{Cite news |title=Charlie Munger says cryptocurrencies should have been banned earlier |work=The Economic Times |url=https://economictimes.indiatimes.com/markets/cryptocurrency/charlie-munger-says-cryptocurrency-should-have-been-banned/articleshow/89628962.cms?from=mdr |access-date=April 26, 2022 |archive-date=April 26, 2022 |archive-url=https://web.archive.org/web/20220426193003/https://economictimes.indiatimes.com/markets/cryptocurrency/charlie-munger-says-cryptocurrency-should-have-been-banned/articleshow/89628962.cms?from=mdr |url-status=live }} that bitcoin was "stupid, "immoral," and "disgusting" and that {{"'}}It's like somebody else is trading turds and you decide, 'I can't be left out{{'"}};{{Cite web |title=Charlie Munger on bitcoin: 'Disgusting,' 'stupid,' 'immoral,' 'turds' |date=May 7, 2018 |url=https://sports.yahoo.com/warren-buffetts-business-partner-charlie-munger-bitcoin-disgusting-stupid-immoral-turds-202914916.html |access-date=April 26, 2022 |publisher=Yahoo! Sports |language=en-US |archive-date=April 26, 2022 |archive-url=https://web.archive.org/web/20220426193001/https://sports.yahoo.com/warren-buffetts-business-partner-charlie-munger-bitcoin-disgusting-stupid-immoral-turds-202914916.html |url-status=live }} and that it was like a venereal disease,{{Cite web |date=February 17, 2022 |title=Buffett business partner Munger slams US-China tensions, crypto |url=https://www.scmp.com/tech/tech-trends/article/3167347/crypto-venereal-disease-and-us-china-tensions-are-massively-stupid |access-date=April 26, 2022 |website=South China Morning Post |language=en |archive-date=April 26, 2022 |archive-url=https://web.archive.org/web/20220426193000/https://www.scmp.com/tech/tech-trends/article/3167347/crypto-venereal-disease-and-us-china-tensions-are-massively-stupid |url-status=live }} among other things.{{Cite web |title=Bitcoin bulls go on the offensive against Berkshire Hathaway |url=https://fortune.com/2021/05/03/bitcoin-bulls-offensive-berkshire-hathaway-charlie-munger-btc/ |access-date=April 26, 2022 |website=Fortune |language=en |archive-date=April 26, 2022 |archive-url=https://web.archive.org/web/20220426193000/https://fortune.com/2021/05/03/bitcoin-bulls-offensive-berkshire-hathaway-charlie-munger-btc/ |url-status=live }}

At the time of his death, Munger had an estimated net worth of $2.6 billion and was ranked as the 1,182nd richest person in the world, according to Forbes.{{Cite news|url=https://www.forbes.com/profile/charles-munger/ |title=Forbes profile: Charles Munger |newspaper=Forbes |language=en|access-date=November 29, 2023|archive-date=November 29, 2023|archive-url=https://web.archive.org/web/20231129012814/https://www.forbes.com/profile/charles-munger/?sh=564111ad697a|url-status=live}}

File:Munger Graduate Residences.jpg

Munger was a major benefactor of the University of Michigan. In 2007, Munger made a $3 million gift to the University of Michigan Law School for lighting improvements in Hutchins Hall and the William W. Cook Legal Research Building, including the noted Reading Room. In 2011, Munger made another gift to the Law School, contributing $20 million for renovations to the Lawyers Club housing complex, which covered the majority of the $39 million cost. The renovated portion of the Lawyers Club was renamed the Charles T. Munger Residences in the Lawyers Club in his honor."[http://www.law.umich.edu/quadrangle/spring2011/specialfeatures/Pages/MungerALeadingLight.aspx Munger: A Leading Light] {{Webarchive|url=https://web.archive.org/web/20110508060211/http://www.law.umich.edu/quadrangle/spring2011/specialfeatures/Pages/MungerALeadingLight.aspx |date=May 8, 2011}}." University of Michigan Law School.Janet Lorin, "[https://www.bloomberg.com/news/2011-03-14/berkshire-s-munger-donates-20-million-to-michigan-law-school.html Berkshire's Munger Gives $20 Million to Michigan Law School] {{Webarchive|url=https://web.archive.org/web/20140815101607/http://www.bloomberg.com/news/2011-03-14/berkshire-s-munger-donates-20-million-to-michigan-law-school.html |date=August 15, 2014}}"(March 14, 2011). Bloomberg.Kyle Feldscher, "[http://annarbor.com/news/former-u-m-student-charles-munger-donates-20-million-for-lawyers-club-renovation-project/ Former Michigan student Charles Munger donates $20 million for Lawyers Club renovation project] {{Webarchive|url=https://web.archive.org/web/20120425232253/http://annarbor.com/news/former-u-m-student-charles-munger-donates-20-million-for-lawyers-club-renovation-project/ |date=April 25, 2012}}" (March 14, 2011). AnnArbor.com; accessed February 17, 2018."[http://www.law.umich.edu/newsandinfo/releases/Pages/mungerlawyersclub.aspx $20 million gift jumpstarts renovation at M Law's Lawyers Club] {{Webarchive|url=https://web.archive.org/web/20120324162353/http://www.law.umich.edu/newsandinfo/releases/Pages/mungerlawyersclub.aspx |date=March 24, 2012}}", University of Michigan Law School website; accessed February 17, 2018.

In 1997, the Mungers donated $1.8 million to the Marlborough School in Los Angeles, of which Nancy Munger was an alumna. The couple also donated to the Polytechnic School in Pasadena and the Los Angeles YMCA."[http://media.caltech.edu/press_releases/13098 Financier Munger Gives DuBridge Lecture] {{Webarchive|url=https://web.archive.org/web/20101004181242/http://media.caltech.edu/press_releases/13098 |date=October 4, 2010}}" (January 29, 2008). California Institute of Technology.

On December 28, 2011, Munger donated 10 shares of Berkshire Hathaway Class A stock (then valued at approximately $1.2 million total) to the University of Michigan.Kevin Roose, [https://dealbook.nytimes.com/2012/01/10/mungers-gifts-1-2-million-to-university-of-michigan "Munger Donates $1.2 Million to University of Michigan"] {{Webarchive|url=https://web.archive.org/web/20171019004946/https://dealbook.nytimes.com/2012/01/10/mungers-gifts-1-2-million-to-university-of-michigan/ |date=October 19, 2017}}, New York Times, January 10, 2011.

Munger and his late wife Nancy B. Munger were major benefactors of Stanford University. Nancy Munger was an alumna of Stanford, and Wendy Munger, Charlie Munger's daughter from a previous marriage, was also an alumna (A.B. 1972). Both Nancy and Wendy Munger served as members of the Stanford board of trustees."[http://news.stanford.edu/news/2004/september1/munger-91.html Mungers donate $43.5 million to help construct new graduate student residence] {{Webarchive|url=https://web.archive.org/web/20110802115313/http://news.stanford.edu/news/2004/september1/munger-91.html |date=August 2, 2011}}" (August 26, 2004). Stanford University.Ulysses Torassa. [https://www.sfgate.com/bayarea/article/STANFORD-43-5-million-given-for-more-graduate-2730524.php Stanford: $43.5 million given for more graduate student housing], San Francisco Chronicle, August 27, 2004.

In 2023, Munger made a gift of stock worth $40 million to the Henry E. Huntington Library and Art Museum in San Marino, California. He gave 77 Class A Berkshire Hathaway shares valued at more than $40.3 million to the Huntington, according to a filing with the Securities and Exchange Commission. A decade ago, he gave the institution nearly $33 million worth of Berkshire stock to help pay for a new education and visitors center.Funk, Josh, "Berkshire Hathaway's Charlie Munger gives $40 million in stock to California museum" Associated Press, October 6, 2023

Munger did not sign The Giving Pledge that was started by his partner Warren Buffett and co-director, Bill Gates,{{Cite web|url=http://givingpledge.org|title=The Giving Pledge website|archive-date=June 17, 2016|archive-url=https://web.archive.org/web/20160617232627/http://givingpledge.org/|url-status=live}} explaining that he "[could]n't do it" because "[he had] already transferred so much to [his] children that [he had] already violated it."{{cite web |title=Charlie Munger talks about investing and life choices that secure prosperity |url=https://www.youtube.com/watch?v=RFxXl9eAWV4&t=2318 |website=YouTube | date=May 9, 2019 |access-date=May 11, 2019 |quote=Well, I wouldn't sign the Giving Pledge 'cause I've already transferred so much to my children that I've already violated it. So I think I'm asking, I'm seeking false credit if I join them and say I'm a big philanthropist that's going to give more than half of my wealth to charity. I've already given more than half of it to my children. So I can't join them. It's like coming back from the dead. I can't do it. |archive-date=October 27, 2020 |archive-url=https://web.archive.org/web/20201027155507/https://www.youtube.com/watch?v=RFxXl9eAWV4&t=2318 |url-status=live}}

Though Munger had no formal architectural training, he contributed heavily to numerous building designs, including dormitories at Stanford University and the University of Michigan, as well as his final home.{{Cite web|date=October 28, 2021|title=Architect Resigns in Protest over UCSB Mega-Dorm|first=Tyler|last=Hayden|url=https://www.independent.com/2021/10/28/architect-resigns-in-protest-over-ucsb-mega-dorm/|access-date=October 29, 2021|website=The Santa Barbara Independent|language=en-US|archive-date=October 28, 2021|archive-url=https://web.archive.org/web/20211028223459/https://www.independent.com/2021/10/28/architect-resigns-in-protest-over-ucsb-mega-dorm/|url-status=live}}{{cite web|title=Warren Buffett on Charlie Munger|url=http://www.berkshirehathaway.com/letters/2014ltr.pdf|publisher=Berkshire Hathaway|page=26|access-date=March 18, 2015|archive-date=March 18, 2015|archive-url=https://web.archive.org/web/20150318161129/http://www.berkshirehathaway.com/letters/2014ltr.pdf|url-status=live}} He donated to universities on the precondition that the universities follow his architectural blueprints exactly. In multiple cases, Munger promoted key architectural concepts of his own liking,{{Cite web |last=Hayden |first=Tyler |date=July 14, 2021 |title=Dormzilla Descends on UCSB |url=https://www.independent.com/2021/07/14/dormzilla-descends-on-ucsb/ |access-date=November 29, 2023 |website=The Santa Barbara Independent |language=en-US |archive-date=November 28, 2023 |archive-url=https://web.archive.org/web/20231128233653/https://www.independent.com/2021/07/14/dormzilla-descends-on-ucsb/ |url-status=live }} and ceded professional architectural responsibility to a licensed architect of record, e.g., Hartman-Cox Architects in the case of the dormitory at Michigan,{{Cite web |date=July 23, 2015 |title=Munger Graduate Residences opens at University of Michigan |url=https://news.umich.edu/munger-graduate-residences-opens-at-university-of-michigan/ |access-date=November 29, 2023 |website=University of Michigan News |language=en-US |archive-date=November 29, 2023 |archive-url=https://web.archive.org/web/20231129084028/https://news.umich.edu/munger-graduate-residences-opens-at-university-of-michigan/ |url-status=live }} and the firm of VTBS for the U.C. Santa Barbara residence hall.{{Cite web |last=Cramer |first=Maria |date=October 30, 2021 |title=After a Billionaire Designed a Dorm, an Architect Resigned in Protest |url=https://www.nytimes.com/2021/10/30/us/charlie-munger-ucsb-dorms.html |website=New York Times |access-date=December 7, 2023 |archive-date=November 30, 2023 |archive-url=https://web.archive.org/web/20231130011341/https://www.nytimes.com/2021/10/30/us/charlie-munger-ucsb-dorms.html |url-status=live }}

In 2004, the Mungers donated 500 shares of Berkshire Hathaway Class A stock, then valued at $43.5 million, to Stanford to build a graduate student housing complex. The Munger Graduate Residence at Stanford University, funded and designed by Munger himself, opened in late 2009 and now houses 600 law and graduate students.Kathleen J. Sullivan, "[http://news.stanford.edu/news/2010/february22/nancy-munger-obit-022410.html Memorial to be held in March for former trustee Nancy Barry Munger] {{Webarchive|url=https://web.archive.org/web/20110729112733/http://news.stanford.edu/news/2010/february22/nancy-munger-obit-022410.html |date=July 29, 2011}}", Stanford University website, February 23, 2010. The Munger family gave a major gift to Stanford's Green Library to fund the restoration of the Bing Wing as well as the construction of a rotunda on the library's second floor, and endowed the Munger Chair in Nancy and Charles Munger Professorship of Business at Stanford Law School.Janet Lowe. Damn Right!: Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger (2000). John Wiley and Sons."[http://www.stanfordalumni.org/news/magazine/2010/mayjun/classnotes/farewells.html Farewells] {{Webarchive|url=https://web.archive.org/web/20110818123931/http://www.stanfordalumni.org/news/magazine/2010/mayjun/classnotes/farewells.html |date=August 18, 2011}}" (May/June 2011). Stanford Magazine.

Munger was a trustee of the Harvard-Westlake School in Los Angeles for more than 40 years, and previously served as chair of the board of trustees. His five sons and stepsons as well as at least one grandson graduated from the prep school. In 2006, Munger donated 100 shares of Berkshire Hathaway Class A stock, then valued at $9.2 million, to the school toward a building campaign at Harvard-Westlake's middle school campus. The Mungers had previously made a gift to build the $13 million Munger Science Center at the high school campus, a two-story classroom and laboratory building which opened in 1995 and has been described as "a science teacher's dream".Steve Jordon, "[http://www.redorbit.com/news/education/547277/munger_gives_100_shares_of_berkshire_to_prep_school/ Munger Gives 100 Shares of Berkshire to Prep School]{{Dead link|date=November 2019 |bot=InternetArchiveBot |fix-attempted=yes}}" (June 22, 2006). Omaha World-Herald.Beth Schuster, "[https://www.latimes.com/archives/la-xpm-1995-12-24-mn-17444-story.html A Science Teacher's Dream in Studio City: New $13-million center gives students at Harvard-Westlake School top-notch, hands-on lessons] " (December 24, 1995). Los Angeles Times. The design of the Science Center was substantially influenced by Munger. In 2009, Munger donated eight shares of Berkshire Hathaway Class A stock, worth nearly $800,000, to Harvard-Westlake.Jamie Kim, "[http://students.hw.com/chronicle/News/NewsArticles/tabid/1274/articleType/ArticleView/articleId/4338/Munger-donates-800000-of-stock-to-school.aspx Munger donates $800,000 of stock to school] {{Webarchive|url=https://archive.today/20120717185128/http://students.hw.com/chronicle/News/NewsArticles/tabid/1274/articleType/ArticleView/articleId/4338/Munger-donates-800000-of-stock-to-school.aspx |date=July 17, 2012}}" (February 11, 2010). Harvard-Westlake Chronicle.

On April 18, 2013, the University of Michigan announced the single largest gift in its history: a $110 million gift from Munger to fund a new "state of the art" residence designed to foster a community of scholars, where graduate students from multiple disciplines can live and exchange ideas.{{cite web|last=O'Toole|first=James|title=Buffett associate Charlie Munger pledges $110 million to University of Michigan|date=April 18, 2013|url=https://money.cnn.com/2013/04/18/news/economy/munger-michigan/|publisher=CNNMoney|access-date=April 19, 2013|archive-date=April 20, 2013|archive-url=https://web.archive.org/web/20130420051307/http://money.cnn.com/2013/04/18/news/economy/munger-michigan/|url-status=live}} The gift included $10 million for graduate student fellowships.{{cite web|agency=Associated Press|title=$110 million donation largest in UM history|url=http://www.toledoblade.com/Education/2013/04/19/110-million-donation-largest-in-UM-history.html|publisher=The Toledo Blade|access-date=April 19, 2013|archive-date=June 17, 2013|archive-url=https://web.archive.org/web/20130617034803/http://www.toledoblade.com/Education/2013/04/19/110-million-donation-largest-in-UM-history.html|url-status=live}} Munger designed the residence, which houses 600 single bedrooms, most of which are windowless in order to accommodate a greater number of single-occupant bedrooms.{{Cite web |url=https://observer.com/2019/05/warren-buffett-vp-charlie-munger-design-college-dorm-ucsb/ |title=Warren Buffett's Investing Pal Charlie Munger Has Been Busy Designing College Dorms |website=The New York Observer |date=May 3, 2019 |access-date=July 20, 2020 |archive-date=July 20, 2020 |archive-url=https://web.archive.org/web/20200720201847/https://observer.com/2019/05/warren-buffett-vp-charlie-munger-design-college-dorm-ucsb/ |url-status=live}} Munger Graduate Residences at the University of Michigan opened in 2015.{{Cite news

|title=Munger residents praise unique living environment

|author=Lydia Murray

|date=September 30, 2015

|url=https://www.michigandaily.com/news/munger-grand-opening-wows/

|access-date=February 20, 2024

|publisher=The Michigan Daily

|archive-date=February 20, 2024

|archive-url=https://web.archive.org/web/20240220121652/https://www.michigandaily.com/news/munger-grand-opening-wows/

|url-status=live

}}

In October 2014, Munger announced that he would donate $65 million to the Kavli Institute for Theoretical Physics at the University of California, Santa Barbara. This is the largest gift in the history of the school. The donation went toward construction of a residence building designed by Munger for visitors of the Kavli Institute in an effort to bring together physicists to exchange ideas as Munger stated, "to talk to one another, create new stuff, cross-fertilize ideas".{{cite web|last1=De La Merced|first1=Michael|title=Charles Munger, Warren Buffett's Longtime Business Partner, Makes $65 Million Gift|date=October 24, 2014 |url=https://dealbook.nytimes.com/2014/10/24/a-billionaires-65-million-gift-to-theoretical-physics/|access-date=October 24, 2014|archive-date=October 24, 2014|archive-url=https://web.archive.org/web/20141024040538/http://dealbook.nytimes.com/2014/10/24/a-billionaires-65-million-gift-to-theoretical-physics/|url-status=live}}

In March 2016, Munger announced a further $200 million gift to UC Santa Barbara, conditioned on the university's commitment to spend it on the construction of Munger Hall, an undergraduate dormitory of Munger's own unconventional design preferences, notably windowless bedrooms and common areas, while tripling the record gift he gave for the Kavli Institute for Theoretical Physics.{{Cite news |last=Brugger |first=Kelsey |date=March 24, 2016 |title=Charlie Munger Donates $200 Million to UCSB for New Dorms |url=http://www.independent.com/news/2016/mar/24/charlie-munger-donates-200-million-ucsb-new-dorms/ |newspaper=Santa Barbara Independent |location=Santa Barbara, California |access-date=March 25, 2016 |archive-url=https://web.archive.org/web/20160329041412/http://www.independent.com/news/2016/mar/24/charlie-munger-donates-200-million-ucsb-new-dorms/ |archive-date=March 29, 2016 |url-status=dead}}{{Cite news |last=Yelimeli |first=Supriya |date=March 28, 2016 |title=Billionaire Donates $200M To Fix 'Gross' Dorms |url=http://dailynexus.com/2016-03-28/billionaire-donates-200m-to-fix-gross-dorms/ |newspaper=Daily Nexus |location=Santa Barbara, California |access-date=March 29, 2016 |archive-date=April 6, 2016 |archive-url=https://web.archive.org/web/20160406082329/http://dailynexus.com/2016-03-28/billionaire-donates-200m-to-fix-gross-dorms/ |url-status=live}} In October 2021, Munger's insistence that the university follow his design compelled architect Dennis McFadden, who had served the university for two decades, to resign from the university's Design Review Committee. McFadden stated that the windowless, 1.68-million-square-foot dormitory would be

{{quote|unsupportable from my perspective as an architect, a parent, and a human being ... An ample body of documented evidence shows that interior environments with access to natural light, air, and views to nature improve both the physical and mental wellbeing of occupants ... The Munger Hall design ignores this evidence and seems to take the position that it doesn't matter ... [T]he building is a social and psychological experiment with an unknown impact on the lives and personal development of the undergraduates the university serves.}} In August 2023, after widespread backlash to what critics called the "windowless dorm," UC Santa Barbara abandoned the project and began to solicit alternative housing proposals. Munger also withdrew his pledge of support.Daniel Roche, "[https://www.archpaper.com/2023/08/university-california-abandons-windowless-dorm-munger-hall/ University of California abandons plans to build "windowless dorm" Munger Hall] {{Webarchive|url=https://web.archive.org/web/20231123211715/https://www.archpaper.com/2023/08/university-california-abandons-windowless-dorm-munger-hall/ |date=November 23, 2023 }}.

In 1945, while studying at Caltech, Munger married Nancy Huggins, daughter of Frederick R. Huggins and Edith M. Huggins. She was a Pasadena native who had been Munger's sister's roommate at Scripps College.Lemann, p. 190.{{cite web|title=Nancy Huggins Freeman|url=https://www.legacy.com/obituaries/latimes/obituary.aspx?pid=419894|publisher=legacy.com|access-date=April 25, 2019|archive-date=October 27, 2020|archive-url=https://web.archive.org/web/20201027155509/https://www.legacy.com/obituaries/latimes/obituary.aspx?pid=419894|url-status=live}} They had three children, Wendy Munger (a former corporate lawyer, trustee of Stanford University, and trustee of The Huntington Library{{cite news|date=February 12, 2003|title=Munger elected to Board of Trustees|publisher=Stanford University|url=http://news.stanford.edu/news/2003/february12/trustee-212.html|access-date=March 3, 2012|archive-date=August 3, 2011|archive-url=https://web.archive.org/web/20110803160224/http://news.stanford.edu/news/2003/february12/trustee-212.html|url-status=live}}{{cite web|title=Trustees & Overseers|url=https://www.huntington.org/trustees-overseers|publisher=huntington.org|access-date=April 25, 2019|archive-date=April 12, 2019|archive-url=https://web.archive.org/web/20190412223938/https://www.huntington.org/trustees-overseers|url-status=live}}), Molly Munger (a civil rights attorney and funder of a ballot initiative to raise California taxes for public education{{Cite news|author=Steven Harmon|date=March 1, 2012|title=Political novice no stranger to upending status quo|work=San Jose Mercury News|url=http://www.mercurynews.com/california-budget/ci_20084335|access-date=March 3, 2012|archive-date=February 17, 2013|archive-url=https://web.archive.org/web/20130217042728/http://www.mercurynews.com/california-budget/ci_20084335|url-status=live}}), and Teddy Munger (deceased, leukemia, age 9).

After Munger's divorce, he remarried within a couple of years to Nancy Barry, daughter of David Noble Barry Jr. and Emilie Hevener Barry.Lemann, p. 192. They had four children:{{cite web|title=Nancy Barry Munger|url=https://www.legacy.com/obituaries/latimes/obituary.aspx?pid=139581671|publisher=legacy.com|access-date=April 25, 2019|archive-date=October 27, 2020|archive-url=https://web.archive.org/web/20201027155545/https://www.legacy.com/obituaries/latimes/obituary.aspx?pid=139581671|url-status=live}} physicist and Republican activist Charles T. Munger Jr., Emilie Munger Ogden, Barry A. Munger, and Philip R. Munger. Munger also had two stepchildren from his second marriage: William Harold Borthwick and David Borthwick.{{cite web|title=Chapter One: An Extraordinary Combination of Minds|url=http://media.wiley.com/product_data/excerpt/32/04712447/0471244732-1.pdf|author=Janet Lowe|date=August 16, 2000|work=Damn Right!: Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger|publisher=Wiley|access-date=April 7, 2014|archive-date=November 29, 2023|archive-url=https://web.archive.org/web/20231129061812/https://media.wiley.com/product_data/excerpt/32/04712447/0471244732-1.pdf|url-status=live}}

On July 22, 2002, Munger's first wife, Nancy Huggins Freeman, died of cancer at age 76.

On February 6, 2010, Munger's second wife, Nancy Barry Munger, died at home at age 86.{{cite web|title=Memorial to be held in March for former trustee Nancy Barry Munger|url=https://news.stanford.edu/news/2010/february22/nancy-munger-obit-022410.html|last=Sullivan|first=Kathleen J.|date=February 23, 2010|publisher=news.stanford.edu|access-date=April 25, 2019|archive-date=October 16, 2019|archive-url=https://web.archive.org/web/20191016031947/https://news.stanford.edu/news/2010/february22/nancy-munger-obit-022410.html|url-status=live}}

Munger was a Republican and provided his opinions on a number of political topics including the policies of the Trump administration.{{cite web |last1=Serwer |first1=Andy |title=Charlie Munger: Democrats hate Trump 'so much that they're against him even when he's right' |date=May 10, 2019 |url=https://finance.yahoo.com/news/charlie-munger-democrats-trump-122206033.html |publisher=Yahoo Finance |access-date=May 3, 2020 |archive-date=August 5, 2020 |archive-url=https://web.archive.org/web/20200805023942/https://finance.yahoo.com/news/charlie-munger-democrats-trump-122206033.html |url-status=live}} Munger stated he was "not a normal Republican", for example advocating "Medicare for all" as a fix to the U.S. healthcare system, saying "I think we should have

single-payer medicine eventually".{{cite web|title=Full Transcript: Billionaire Investor Warren Buffett Speaks with CNBC's Becky Quick on 'Squawk Box'|date=May 9, 2017|url=https://www.cnbc.com/2017/05/09/full-transcript-billionaire-investor-warren-buffett-speaks-with-cnbc-percent-u2019s-becky-quick-on-percent-u201csquawk-box-percent-u201d.html|publisher=CNBC|access-date=September 11, 2020|archive-date=August 3, 2019|archive-url=https://web.archive.org/web/20190803213813/https://www.cnbc.com/2017/05/09/full-transcript-billionaire-investor-warren-buffett-speaks-with-cnbc-percent-u2019s-becky-quick-on-percent-u201csquawk-box-percent-u201d.html|url-status=live}}{{Cite web |url=https://www.youtube.com/watch?v=8MUAz1mqNCQ |title=Charlie Munger: We Should Have Single-Payer Medicine {{!}} Squawk Box {{!}} CNBC |website=YouTube |date=May 8, 2017 |access-date=September 11, 2020 |archive-date=March 1, 2020 |archive-url=https://web.archive.org/web/20200301175014/https://www.youtube.com/watch?v=8MUAz1mqNCQ |url-status=live}} Munger repeated his sentiments in another interview, praising Singapore's single-payer system in contrast to the U.S. "insane" system which is a "national disgrace".{{Cite web |url=https://www.youtube.com/watch?v=Yz3pXB7JRXE |title=Charlie Munger on health care: 'We should have a single payer system' |website=YouTube |date=May 9, 2019 |access-date=September 11, 2020 |archive-date=October 27, 2020 |archive-url=https://web.archive.org/web/20201027155517/https://www.youtube.com/watch?v=Yz3pXB7JRXE |url-status=live}}{{cite web |title=Charlie Munger: America's health care system is a 'national disgrace' |date=May 11, 2019 |url=https://finance.yahoo.com/news/charlie-munger-health-care-113958431.html |publisher=Yahoo Finance |access-date=September 11, 2020 |archive-date=August 9, 2020 |archive-url=https://web.archive.org/web/20200809064656/https://finance.yahoo.com/news/charlie-munger-health-care-113958431.html |url-status=live}}

In his 50s, after a failed eye cataract surgery that rendered his left eye blind, Munger had his left eye removed due to severe pain. When doctors told him he had developed sympathetic ophthalmia, which could lead to blindness in his remaining eye, Munger started taking braille lessons. The eye condition eventually receded and he kept eyesight in his right eye for the rest of his life.{{Cite web|url=https://www.rightattitudes.com/2017/01/24/charlie-munger-lessons-on-adversity/|title=Lessons on Adversity from Charlie Munger: Be a Survivor, Not a Victim|date=January 24, 2017|website=Right Attitudes|access-date=April 21, 2020|archive-date=May 3, 2020|archive-url=https://web.archive.org/web/20200503082707/https://www.rightattitudes.com/2017/01/24/charlie-munger-lessons-on-adversity/|url-status=live}}

Munger died at a hospital in Santa Barbara, California, on November 28, 2023, at the age of 99, 34 days shy of his 100th birthday.{{cite news|url=https://www.cnbc.com/2023/11/28/charlie-munger-investing-sage-and-warren-buffetts-confidant-dies.html|title=Charlie Munger, investing genius and Warren Buffett's right-hand man, dies at age 99|last=Steinberg|first=Marty|date=November 28, 2023|accessdate=November 28, 2023|work=CNBC|archive-date=November 29, 2023|archive-url=https://web.archive.org/web/20231129054126/https://www.cnbc.com/2023/11/28/charlie-munger-investing-sage-and-warren-buffetts-confidant-dies.html|url-status=live}}{{cite news|url=https://www.nytimes.com/2023/11/28/business/charles-t-munger-dead.html|title=Charles T. Munger, Much More Than Warren Buffett's No. 2, Dies at 99|last1=Sorkin|first1=Andrew Ross|authorlink1=Andrew Ross Sorkin|last2=Hershey|first2=Robert D. Jr.|date=November 28, 2023|accessdate=November 28, 2023|newspaper=The New York Times|url-access=limited|archive-date=November 29, 2023|archive-url=https://web.archive.org/web/20231129053833/https://www.nytimes.com/2023/11/28/business/charles-t-munger-dead.html|url-status=live}} In the statement announcing his death, Warren Buffett said, "Berkshire Hathaway could not have been built to its present status without Charlie's inspiration, wisdom and participation."{{Cite web |first1=Paul R. |last1=La Monica |first2=Krystal |last2=Hur |date=November 28, 2023 |title=Charlie Munger, friend and business partner of Warren Buffett, dies {{!}} CNN Business |url=https://www.cnn.com/2023/11/28/investing/charlie-munger-dies/index.html |access-date=November 28, 2023 |website=CNN |language=en |archive-date=November 29, 2023 |archive-url=https://web.archive.org/web/20231129054114/https://www.cnn.com/2023/11/28/investing/charlie-munger-dies/index.html |url-status=live }} Other prominent figures in the American business community who issued statements in Munger's memory include Microsoft founder Bill Gates, Apple CEO Tim Cook, Chairman and CEO of JP Morgan Chase Jamie Dimon, Bank of America CEO Brian Moynihan and hedge fund manager Ray Dalio.{{cite web |url=https://www.wsj.com/livecoverage/stock-market-today-dow-jones-11-29-2023/card/charlie-munger-tributes-roll-in-PeaMs9Alb8raXuGC6o1o |title=Charlie Munger Tributes Roll In |website=The Wall Street Journal |date=2023-11-29 |access-date=2023-12-05 |author=WSJ staff |archive-date=December 6, 2023 |archive-url=https://web.archive.org/web/20231206165139/https://www.wsj.com/livecoverage/stock-market-today-dow-jones-11-29-2023/card/charlie-munger-tributes-roll-in-PeaMs9Alb8raXuGC6o1o |url-status=live }}{{Cite tweet |last=Dalio |first=Ray |user=RayDalio |number=1729874240093167723 |date=29 November 2023 |title=I mourn Charlie Munger who is a man I admired greatly for his sound fundamental principles as well has his investment abilities. We have lost a great man and a great role model. |access-date=1 December 2023}}

In the first annual letter to Berkshire Hathaway's shareholders written after Munger's death, Buffett gave a fuller account of his partner:{{Cite news |title='Part older brother, part loving father': Warren Buffett insists his departed vice chair, Charlie Munger, was the 'architect' of Berkshire Hathaway all along |author=Steve Mollman |date=February 25, 2024 |url=https://fortune.com/2024/02/24/warren-buffett-charlie-munger-annual-letter-berkshire-hathaway-architect/ |access-date=February 25, 2024 |publisher=Fortune |archive-date=February 25, 2024 |archive-url=https://web.archive.org/web/20240225013243/https://fortune.com/2024/02/24/warren-buffett-charlie-munger-annual-letter-berkshire-hathaway-architect/ |url-status=live }}

Charlie never sought to take credit for his role as creator but instead let me take the bows and receive the accolades. In a way his relationship with me was part older brother, part loving father. Even when he knew he was right, he gave me the reins, and when I blundered he never – never – reminded me of my mistake.

In the physical world, great buildings are linked to their architect while those who had poured the concrete or installed the windows are soon forgotten. Berkshire has become a great company. Though I have long been in charge of the construction crew; Charlie should forever be credited with being the architect.

{{Reflist|30em}}

• Bevelin, Peter (2007). Seeking Wisdom: From Darwin to Munger ({{ISBN|1-57864-428-3}})
• Griffin, Tren (2015). Charlie Munger: The Complete Investor. ({{ISBN|023117098X}})
• Kaufman, Peter (2005, 2006 [2nd ed.], 2008 [3rd ed.]). Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger
• Labitan, Bud (2008). The Four Filters Invention of Warren Buffett and Charlie Munger, Acalmix ({{ISBN|978-0-615-24129-6}})
• {{Cite book |last=Lemann |first=Nicholas |author-link=Nicholas Lemann |title=The Big Test: The Secret History of the American Meritocracy |publisher=Farrar, Straus and Giroux |date=2000 |isbn=0-374-52751-2}}
• Lowe, Janet (2000). Damn Right! Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger, John Wiley & Sons ({{ISBN|0-471-24473-2}})

• {{Cite journal |last=Rojas |first=Claudio R. |year=2014 |title=An Indeterminate Theory of Canadian Corporate Law|journal=University of British Columbia Law Review |volume=47 |issue=1 |pages=59–128 ("The author's perspective on Berkshire Hathaway's investment philosophy was informed by discussions with Warren Buffett in Omaha, Nebraska": pp. 59, 122–124)|ssrn=2391775}}

{{Wikiquote}}

• [http://futile.free.fr/cmeng.html Charlie Munger Link Collection]{{Webarchive|url=https://web.archive.org/web/20231209142159/http://futile.free.fr/cmeng.html |date=December 9, 2023 }}

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