OT - On a somber note, U of M Alum Charlie Munger has passed at the age of 99.
10 years ago, he made the largest donation to the Michigan. I think it was for a student dormitory where the old Blimpie Burgers was located. (See 1st link below.)
Additional info on his passing.
Wiki page:
https://en.wikipedia.org/wiki/Charlie_Munger
RIP!!!
TY for being a part of the Michigan Difference.
November 28th, 2023 at 4:34 PM ^
DAMN!!!!!!!!!! CHARLIE MUNGER was not in the OP title.
November 28th, 2023 at 4:48 PM ^
Talk about burying the lede.
He funded the renovations to the Lawyer's Club residences in the Law Quad. A little late for yours truly who lived there when the accommodations were, for lack of a better term, "spartan." The current residents don't realize how cushy they have things. Kids today. (shakes fist at cloud)
November 28th, 2023 at 5:53 PM ^
Yeah, I was in "F" back when things went up and down rather than across, if that makes sense.
As a California guy, I knew I was going to go to Michigan when I first stepped onto the Law Quad.
November 28th, 2023 at 4:48 PM ^
I'll be glad to edit in his name.
November 28th, 2023 at 4:54 PM ^
Wow... anyone who follows investing knows his name, but I had no idea he was an alumnus. He was always next-in-line for whenever Warren Buffet moved (or passed) on, but the day never came.
November 28th, 2023 at 5:06 PM ^
I don't think he was actually an alumnus, unless he got an honorary degree later in life. According to an obituary I read earlier today, he attended U of M to study mathematics, dropped out during WWII to join the army, and then managed to convince a dean at Harvard Law to admit him without an undergrad degree (!).
November 28th, 2023 at 7:45 PM ^
That qualifies as an alumnus, just not a graduate.
November 28th, 2023 at 7:58 PM ^
Exactly. Madonna is an alumnus for being there one semester.
November 28th, 2023 at 4:36 PM ^
A month and change away from his 100th birthday.
His comments during the annual Berkshire meetings were absolute gems.
November 28th, 2023 at 4:44 PM ^
Charlie was funny and insightful. He could sum up a topic so quickly, usually by describing something as "twaddle."
November 28th, 2023 at 4:41 PM ^
Thank you for posting the news, and the reminder of his generosity.
EDIT: just read the NY Times obit. A fascinating guy.
November 28th, 2023 at 5:58 PM ^
I may have missed it, but here's the NYT obituary:
https://www.nytimes.com/2023/11/28/business/charles-t-munger-dead.html?smid=url-share
As to Michigan: "At 17, Charles went to the University of Michigan to major in mathematics, but in his sophomore year, after the attack on Pearl Harbor, he enlisted in the Army Air Corps."
November 28th, 2023 at 4:41 PM ^
I listened to him on YouTube just this week.
November 28th, 2023 at 4:43 PM ^
I met Charlie Munger about 15 years ago in the Ross School of Business. Good dude. RIP
November 28th, 2023 at 4:45 PM ^
The irony is that he designed his casket to have windows.
November 28th, 2023 at 5:14 PM ^
He lived a very long life as a super wealthy man, AND he got to see us beat OSU one more time.
We should all be so lucky.
RIP Charlie.
November 28th, 2023 at 5:19 PM ^
November 28th, 2023 at 5:20 PM ^
RIP Charlie. Hope their is a HUGE bequest in your will to Michigan.
November 28th, 2023 at 5:28 PM ^
RIP to the greatest college dorm architect there ever was.
Rest easy sweet Prince. May there be no pesky windows in the afterlife.
November 28th, 2023 at 5:41 PM ^
I'm glad Charlie lived long enough to see his Wolverines reclaim their dominance over OSU.
November 28th, 2023 at 6:16 PM ^
At the age of 17, Munger enrolled in the University of Michigan to study mathematics only to drop out at the age of 19 during World War II to serve in the US Army Air Corps. While in the Army, he studied meteorology at Caltech in Pasadena, Calif., which became his home.
When Munger applied to Harvard Law School he was initially rejected. He applied again and received his J.D. from Harvard Law School, graduating magna cum laude in 1948. After law school, Munger returned to Los Angeles where he practiced real estate law.
The windowless Munger dorms are his doing and highlighted in this interview with Charlie:
https://www.cnn.com/2021/11/02/business/munger-residences-michigan-windowless/index.html
November 28th, 2023 at 6:38 PM ^
As a Berkshire Hathaway investor, his passing bums me out.
As a California resident and taxpayer, and fan of UCSB, I'm less bummed out. That residence hall was an abomination.
November 28th, 2023 at 7:57 PM ^
This guy had some really weird ideas about housing and held them over universities if they wanted his money. Who needs windows, after all? Large-scale philanthropy is a weird game.
November 28th, 2023 at 8:02 PM ^
Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger is a must read as are all the books on his recommended reading list. He explains life and success with clarity and purpose. The copy in the business school library is signed.
R.I.P.
November 28th, 2023 at 8:23 PM ^
BSL Charlie
November 28th, 2023 at 9:20 PM ^
Brilliant man. RIP.
November 28th, 2023 at 11:37 PM ^
As an investor, I watch as much of Charlie and Warren as I can. The Annual Meetings are gold.
My favorite CM quote:
"Without the method of learning, you're like a one-legged man in an ass-kicking contest. It's just not going to work very well."
November 29th, 2023 at 6:16 AM ^
Ah, Charlie Munger. Few live a life more privileged than mine, but that guy sure did. I guess I'm glad some of his tax avoidance schemes benefited Michigan, assuming they actually did. I remember the resistance to his plans at Michigan, but haven't checked in recently. Given the occasion, I looked up some more recent coverage. Here it is, for those interested: https://edition.cnn.com/2021/11/02/business/munger-residences-michigan-windowless/index.html
November 29th, 2023 at 8:21 AM ^
Generally speaking avoiding taxes isn't a "scheme" but rather using government incentives to direct money to where the government wants you to send it.
November 29th, 2023 at 8:18 AM ^
A true American icon.
Was famously against diversification saying something like "why hold a bunch of stocks when you should just hold winners?"