Charlie Munger, who helped Warren Buffett build Berkshire Hathaway into an investment powerhouse, has died. He was 99.
Munger's death was confirmed in a statement from the company, which said he died Tuesday at a California hospital.
Munger served as Buffett's sounding board on investments and business decisions and helped lead Berkshire as its vice chairman for decades.
Munger preferred to stay in the background and let Buffett be the face of Berkshire, and he often downplayed his contributions to the company's remarkable success.
But Buffett always credited Munger with pushing him beyond his early value investing strategies to buy great businesses.
"Charlie has taught me a lot about valuing businesses and about human nature," Buffett said in 2008.
Buffett's early successes were based on what he learned from former Columbia University professor Ben Graham. He would buy stock in companies that were selling cheaply for less than their assets were worth, and then, when the market p

Charlie Munger

Press Trust of India

With a market cap of almost $48 trillion US is by-far the world's largest equity market. Followed by China ($9.7 trillion) and Japan ($6 trillion)

Stock market, BSE

Business Standard

Closing Bell on Wednesday, November 29, 2023: Among sectors, the Nifty bank, Auto, Financial Services, IT, PSU bank, and Private Bank indices ended higher in the range of 1 per cent to 1.5 per cent

bull market

Only 60% of its shipments came from China during the same period, down from 80% in 2018, the same data shows. To be sure, China is still Walmart's biggest country for importing goods

Walmart

Reuters

Adani is now the 19th richest person in the world, with a net worth of $66.7 billion

Gautam Adani, Adani

The biggest runpour going around was the release of their skipper Hardik Pandya. However, the Gujarat Titans stuck to him and released a total of eight players

Mohammed Shami of Gujarat Titans celebrates with teammates after the wicket of K L Rahul, captain of Lucknow Super Giants (Photo: PTI)

Mohammed Shami of Gujarat Titans celebrates with teammates after the wicket of K L Rahul, captain of Lucknow Super Giants

Lucknow Super Giants (LSG) released eight players and are yet the team with the least amount of money in their purse heading into the IPL 2024 auction

Lucknow Super Giants

Sunrisers Hyderabad released Harry Brook. But they let go of only six players in total and still managed to get a hefty purse of Rupees 34 crore going into the IPL 2024 auctions

Harry Brook has been named in England Squad for Cricket World Cup 2023 in India. Photo: X

Harry Brook

Here is the best of Business Standard's opinion pieces for today

airline, aviation, airplane

China has for nearly 20 years been the preferred location for a range of pharmaceutical research and manufacturing services due to the low cost and speed offered by contract drugmakers there

drugs, pharma sector

However, for FY25, the GDP growth projection has been slashed by 50 basis points (bps) to 6.4 per cent

India's growth, India GDP, economic growth

In trying to please everyone, India is seen as neither fish nor fowl. India must rethink whether it can claim leadership of Global South by supporting a perspective not very different from the West

israel, gaza, army

A policyholder in India can now register complaints that are related to compensation claims of up to Rs 50 lakh with insurance ombudsman offices in India. Earlier, the maximum compensation that ombuds

insurance claim

The news comes as Hon Hai, also known as Foxconn, and other Taiwanese electronics manufacturers continue to diversify their businesses outside of China

Hon Hai Precision

Bloomberg

Currently, numerous individuals across villages in the state are squarely dependent on external sources of water, such as tankers, to quench their drinking water needs

drought

A total of 2,290 candidates from 109 parties including the national and regional parties are in the fray. The contestants include 221 women and one transgender

Elections, vote, polling, voting

The CEO added that as many as 27,000 registered voters in the state have already registered their votes by enlisting for the home-voting system this year

The AAP government has notified the Delhi Motor Vehicle Aggregator and Delivery Service Provider Scheme 2023, paving the way for electric-only bike taxis to ply in the national capital and targeting a transition to electric mobility by 2030, Transport Minister Kailash Gahlot said on Wednesday.
Gahlot said that as of now the government has not dealt with the issue of "surge pricing" imposed by the app-based cab aggregators but if complaints are received from people, rules will be framed.
Addressing a press conference, the minister said it is for the first time in India that aggregator guidelines have also defined phase-wise electrification targets for these operators.
"There has been a long need for licensing and regulating the aggregators in Delhi for smoother operations for Delhiites. India has set a target to achieve net zero (emissions) by 2070. This scheme is an initiative by the capital city towards the same. It is also the first time that we are allowing bike taxis to run in t

Delhi Transport Minister Kailash Gahlot

Union health ministry advised states to immediately review preparedness

india health

The Afghan embassy in New Delhi will resume operations in the next few days, Deputy Foreign Minister in the Taliban set up, Sher Mohammad Abbas Stanikzai, has said.
Stanikzai told Afghan broadcaster RTA that officials at the Afghan consulates in Hyderabad and Mumbai have visited the embassy following instruction from Kabul.
The Taliban leader said Afghanistan wants good relations with the neighbouring countries.
His comments about resuming operations at the Afghan embassy came days after the mission under the control of Ambassador Farid Mamundzay announced its permanent closure, citing "persistent challenges from the Indian government".
Mamundzay, appointed by the previous Ashraf Ghani government in Kabul, has been out of India for the last few months.
On Friday, the embassy announced its permanent closure.
The diplomats at the embassy appointed by the previous government had announced on September 30 too that the mission is ceasing its operations from October 1, alleging a "lack

Afghan embassy in New Delhi,Taliban Set Up Govt,Taliban Operated Embassy in India

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12,000 critical polling stations identified: Telangana CEO ahead of polls

Delhi govt notifies motor vehicle scheme, surge pricing not dealt with

Indian states' health departments on alert as China pneumonia cases spike

Afghan embassy in New Delhi will be functional in few days: Taliban govt

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Charlie Munger, Warren Buffet's sidekick at Berkshire Hathaway, dies at 99

Indian markets hit historic $4 trn market cap milestone for the first time

Sensex soars 728 pts, Nifty ends above 20K after over 2 mths in broad rally

Walmart turns to India from China for cheaper imports as it cut costs

Gautam Adani back in world's top 20 richest billionaires after stock rally

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