The Day Munger Died: 18 WeChat Moments About Him

By | Muxin Xu

On New Year's Day this year, Li Lu had a phone call with Charlie Munger. Li had just visited the Kennedy Space Center, and the two revisited their reflections on the Apollo moon landing. "I hope we can muster the same kind of effort it took to land on the moon to stop the Russia-Ukraine war," Munger told him.

Li Lu, the asset manager for the Munger family and widely considered the Chinese person closest to Munger, recorded this afterward: Mr. Munger's 99 years had witnessed too much of the world. Discovery, innovation, and progress coexisted with war, utopianism, barbarism, and cruelty. In 2022, we once again witnessed war, absurdity, ignorance, and barbarism. Yet that same year, Artemis — successor to the Apollo program — launched for the first time in November. This time, humanity aims not merely to return to the moon, but to embark on a journey to Mars! Borrowing Mr. Munger's message, "In 2023, let us stop war, ignorance, and barbarism with the determination, courage, and wisdom it takes to voyage into space!"

Regrettably, Munger did not live to see that wiser, more peaceful world. On the morning of November 28 local time, one month shy of his 100th birthday, he passed away peacefully at a hospital in California.

After Munger's death, his partner of half a century and lifelong friend, 93-year-old "Oracle of Omaha" Warren Buffett, posted a tribute on Berkshire Hathaway's website: "Berkshire Hathaway could not have been built to its present status without Charlie's inspiration, wisdom, and participation."

For China's entire investment industry, Munger was more than a great investor. His investment philosophy, observations on Chinese companies and markets, and attitude toward life inspired a generation of practitioners.

Munger's last public appearance came a month earlier, when he recorded an episode of the business podcast Acquired. As "usual," he shared his insights on China's economy and investing: "The next 20 years of China's economy are going to be way better than any other big economy's. China's leading companies are stronger and better, and their valuations are much cheaper. So naturally, I would want some China risk assets in the Munger portfolio."

After Munger's passing, a generation influenced by his ideas mourned him in their own ways. Compiled by An Yong Waves:

Guofei Li

Renowned individual investor, author of Steve Jobs, Zen, and Investing

Charlie Munger had two quotes that deeply influenced me. First, "latticework of mental models" — essentially, read widely. Only by thinking about problems from different angles can we better understand this world. There are obstinate fools who see the world through only one lens, who keep banging their heads against walls until they're bloodied and still won't turn back.

Second, he said: "If I knew where I was going to die, I'd never go there." Meaning: anticipate risk, avoid it early, and never harbor侥幸心理.

David Zhang

Matrix Partners China

Scrolling through my Moments feed right now, it feels like 90% of people are devoted followers of Teacher Munger. Perhaps so, but most people in their own fields or personal investing at best achieve mediocrity; many can't even establish positive feedback loops and instead do the exact opposite. The reason is simple: most people at best understand Buffett/Munger's underlying logic and core principles on a surface level. The possibility of consistently applying them long-term is practically zero. It's driven by personality, by how one conducts oneself, and more fundamentally by values...

Yi Cao

Source Code Capital

The investment world, and the financial world at large, has lost its anchor. Old Buffett is still holding the final line. Who will pick up the baton?

Yonggang Cao

Hony Capital

For most people, myself included, our first impression of Charles Munger was simply that of a very old man. Yet over all these years, we'd grown accustomed to the elderly him always being there — always so calm, wise, and profound. As the investment world's "voice of clarity," he seemed like he'd always be with us. Old age was just an image label, not an irreversible biological fact. Today, the man who was forever old yet forever present has left us for good. His departure once again reminds us that some laws are beyond human resistance.

An era has ended. Eternal respect to the great Charles Munger...

Shichun Wu

Plum Ventures

Mr. Charlie Munger was a top-tier intellect. His wisdom in both investing and life has benefited us immeasurably. The best way to honor his memory is to practice his wisdom.

William Wang

Linear Capital

I previously read Poor Charlie's Almanack and many of the old man's talks carefully. I agree with 90% of his operational philosophy and admire 100% of his life philosophy.

Kai Liu

5Y Capital

Idol worship is not only deeply encoded in human genes; the power of role models also inspires us forward: live as long as our idols, read like our idols, invest and learn and grow for life like our idols.

Tingting Sun

Mumian Capital, Introversion Fund

To become wealthy through clean means, thereby proving that becoming wealthy through clean means is possible — Munger gave us the intellectual guidance.

Hongjun Shi

Founder of Munger Academy, publisher of Poor Charlie's Almanack and Munger's Way

Munger didn't engage with people; he was intensely focused. In 2009, when he, Buffett, and Li Lu came to China for a Dialogue program and visited BYD's factory, during introductions he seemed to look right through you, talking about something of his own, ignoring what you were saying. Most people would find this rude, but it wasn't. This year when we visited his home in the US, he was talking about Apple — he'd met Cook the day before. He felt trade benefited both countries. He seemed to constantly be thinking about things; he might not even hear what you're saying. At 99, his mind was sharp; he didn't seem like an old man.

Weidong Feng

Tiantu Capital

A great intellect has departed, but his wisdom remains. Munger achieved "immortality through both virtue and works" — he is my role model in life.

Hengle Zheng

Lightsource Capital

RIP, Munger. My启蒙 in investing, a wise man in life.

Yuan Liu

ZhenFund

Whenever various artists pass away, media headlines and comments always say "heaven has gained a [painter/musician/etc.]," but when an investor dies, nobody writes that God wanted to buy stocks so he called Munger up.

Though it flooded my Moments feed, when I opened BBC I found it wasn't even on their news portal; CNN didn't put it at the top; WSJ did have it as headline news. In China, Munger existed more as a philosopher of ideas than as an investor. His principles may not apply to A-shares, but his life wisdom illuminated and inspired many. To be beloved by the masses as an investor — perhaps only he and Buffett achieved that in this world. Munger had just recorded a podcast with Acquired a month ago. His clarity and wisdom persisted until his final days — truly enviable.

Gu Dian

Bestselling author

Charlie Munger left the world yesterday. His greatest legacy to the world is not successful companies, nor bestselling books like Poor Charlie's Almanack and his psychology of human misjudgment, but a fact written by his life: smart, good people can succeed — and succeed on a grander scale.

Chaofan Guo

Healthcare investor

Unexpectedly, Omaha 2019 really was the last time. Just last night on a flight I was reading the old man's 1999 prediction about the internet bubble. Applied to today's Pinduoduo vs. Alibaba context, it's almost amusing.

Salute to the old man's simplicity, wisdom, humility, and reverence.

Note: In a 1999 Wesco Financial shareholder meeting speech, Munger stated: "The internet will change the world, but I don't think its impact on the world can possibly be as profound as television's."

Youjin Lan

Sincere VC

What's remarkable about Munger is that many of his viewpoints and advice — including learning methods and lifestyle — ordinary people can learn from and借鉴. He was an extraordinary person who appeared to be ordinary.

Kangkang Zhang

Kangsheng Fund

There are plenty of successful investors, capitalists, and wealthy people in this world, but not many who are genuinely respected from the heart while meeting these conditions. Even fewer are investors, capitalists, and wealthy people who lived this life so transparently, so calmly, so without regret. Rest in peace — you were a true wise man.

Guoxiong Cao

Puhua Capital, Toutiao Capital

"We must learn to fold early when the situation is unfavorable, but when we have a strong hand, we must bet heavily, because strong hands don't come often. So when opportunity strikes, seize it firmly."

Ye Yuan

5Y Capital

Great intellect, splendid life, wisdom eternal.

Image source | Visual China

Layout | Xuemei Guo