The investing legend’s simple magic
American investment legend Charlie Munger, who died aged 99 on Wednesday, didn’t profit by picking possible winners so much as by backing proven ones.
Warren Buffett credits Munger as the real brain behind Berkshire Hathaway’s rise into a $US785 billion ($1.2 trillion) powerhouse conglomerate over the past six decades. Rather than speculating on undervalued stock, Munger’s value-investing strategy was to buy well-run companies at reasonable prices.
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