In the last article, we discovered that as Warren Buffett dissolved his partnership, he simultaneously organized investment opportunities and provided guidance to his former partners. Now, let's delve deeper into the life of his most significant companion in his investment and business journey.

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Charlie Munger is the most crucial and exceptional partner in Warren Buffett's lifetime. Unlike Buffett, Munger is a man of few words, yet he possesses a remarkable ability for abstract thinking. 

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Buffett once remarked, "No matter how intricate a problem may be, just ask Munger, and within about 30 seconds, he can grasp its essence." In an interview, Buffett's son added, "Uncle Munger and my father are a perfect complement to each other. Munger's exceptional intelligence and creative, critical thinking greatly enhance their partnership."

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Charlie Munger was born on January 1, 1924, in Omaha, Nebraska, USA, just like Buffett, a native of Omaha. After completing his studies at the University of Michigan and serving in the army, Munger graduated from Harvard Law School in 1948 with outstanding results, despite not having an undergraduate degree. He became a lawyer in California and started investing in securities and engaging in business activities with friends and clients, some of which became case studies in business schools. 

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Before 1965, he worked as a real estate lawyer at Munger, Tolles & Olson LLP. Later, he gave up his law practice and focused on managing investment businesses.

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Munger also spent his early years in Omaha but later relocated to Los Angeles upon completing his college education. Even as a young boy, he worked at the supermarket owned by Warren Buffett's grandfather. However, Munger and Buffett were strangers at the time, which could be attributed to two reasons: first, Buffett was seven years Munger's senior, and second, it was unlikely that their paths would cross because Buffett had lived in a different neighborhood known as Biff Barton when they were younger.

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Munger's father was a lawyer, his grandfather was a judge, and the family had a solid legal background. As a result, Munger aspired to become a legal expert from an early age. In 1946, even before he received his bachelor's degree, he applied to the prestigious Harvard Law School and was accepted. He was the first person in the history of Harvard Law School to be admitted without an undergraduate degree. 

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His exceptional admission was due to his outstanding test scores, which impressed Harvard and led them to make an exception. Two years later, at the graduation ceremony, out of 335 graduating students, only 12 received honors, and Munger was one of them. After graduating, he started his law firm in LA, which was named after him.

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Now, you must be curious about how Munger and Buffett met. It all started in 1959 when a doctor named Edwin "Ed" Davis from Omaha, an investor and a partner in Buffett's partnership, became friends with Munger. Shortly after joining Buffett's partnership, Davis noticed striking similarities between Buffett and Munger and thought they would get along well if he introduced the two. So, when Munger visited Omaha to see his family, Davis arranged a meeting. And as you may have guessed, they hit it off immediately.

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Munger came from a family of lawyers, and he was diligent and had high moral standards. In 1968, when Buffett bought a small helicopter for company executives to have more efficient meetings, Munger advised him, "This monster destroys shareholder value and should not be allowed." 

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Munger never used the company's small helicopter when he traveled by air; instead, he always flew in economy class. Buffett jokingly suggested renaming the helicopter "Indefensible" because he believed Munger would sell it as soon as he left.

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He even considered naming the helicopter 'Charlie Munger' as a tribute to him because Buffett said, "I have fallen in love with this helicopter and want it to accompany me to my grave when I die."

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While Buffett intended it for more efficient leadership meetings, Munger saw it as a waste. This became an interesting point of conflict between the two.

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This article introduced us to Munger, Buffett's most significant business associate. Watch for the next article to learn more about Munger's life lessons and investment advice. It promises to be fascinating!

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