“Legendary Investor Charlie Munger Passes Away at 99”
Charlie Munger, the billionaire investor and vice chairman of Berkshire Hathaway, has sadly passed away at the age of 99, just before his 100th birthday. Munger was widely respected for his sharp wit and analytical skills, and played a crucial role in transforming Warren Buffett’s investment firm into the massive success it is today. His keen insights and forward-thinking approach in the technology sector led to strategic investments that yielded significant returns. Despite being a latecomer to the Apple bandwagon, Munger recognized the potential of the Cupertino-based tech giant and consistently praised it as a wise investment. In fact, Berkshire’s largest investment to date is in Apple, with 859 million shares valued at $148 billion. Let’s delve into Munger’s statements about Apple that showcase his deep admiration for the company behind the iconic iPhone.
The admiration was mutual, I must say. When news of Munger’s death broke, Apple CEO Tim Cook took to X (formerly Twitter) to post: “Corporate titan and keen observer of the world around him, Charlie Munger helped build an American institution, and his wisdom and insights inspired a generation of leaders. He will be sorely missed. . Rest in peace Charlie.”
Charlie Munger at Apple
In 2018, Munger spoke in an interview with CNBC about Berkshire Hathaway owning Apple shares. At the time, the investment company owned 240.3 million shares of the technology giant. When asked why he was so bullish on Apple, Munger said, “I think we’ve been a little too restrained. I wish we owned it more.”
Calling it a “desirable combination,” Munger emphasized that Apple’s stock was reasonably priced, strong and had a smart management team under Cook.
He reiterated his position in an interview with Yahoo Finance in 2022. He said, “Apple is one of the strongest companies in the world. I judge the strength of a company by how much its customers like it. And I have millions of friends who parted with their right hand before parting with their iPhone. It’s a very powerful position.I think Apple is incredibly well run.
Interestingly, according to reports, Munger himself never owned an iPhone.
