July 16, 2024

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The ‘Chinese Warren Buffett’ gives a moving eulogy for Charlie Munger, calling him the ‘enlightened’ embodiment of ‘modern-day Confucianism’

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Charlie Munger was one of a kind. That was more evident than ever in the wake of the legendary investor and Berkshire Hathaway vice chairman’s death last week at age 99. A raft of corporate CEOs and renowned Wall Street investors reflected on—and lionized—Munger after his passing, sharing what the sharp-tongued, quick-witted right hand man to Warren Buffett meant to them and others in finance and investing.

One of the most moving tributes to Munger came from Li Lu, founder and chairman of Himalaya Capital Management, a hedge fund known for its Munger-like discipline and value-oriented investing.

Lu is the only man besides Buffett who Munger ever trusted to invest his family’s fortune. And the hedge funder did so well with that task—earning a roughly 400% return on Munger’s original $90 million investment in the early 2000s—that the ‘Oracle of Pasadena’ took to calling him “the Chinese Warren Buffett.”

Instead of praising Munger’s investing chops or prophetic predictions, Lu touched on what he said made the man truly great—an imitable moral compass and passion for teaching.

“In our capitalist society, where do virtue, moral responsibility, truth-seeking and public service fit in? Charlie Munger answered these questions through his long exemplary life,” Lu wrote in a Thursday Facebook post.

He described how Munger always “insisted on making money in the most morally sound way,” entering deals only when, “if positions were reversed, he would comfortably take the other side.” He discussed the “wisdom” that Munger earned through his dedication to “life-long learning,” and his passion for sharing that wisdom. And he emphasized that Munger, although a billionaire many times over, never forgot about consistently engaging with “family, friends, partners, and the border world with loving assiduousness.”

“He guided life with rationality devoid of mental deficiencies such as envy, resentment and…

Will Daniel

2023-12-04 14:07:53

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