The wit and wisdom of Charlie Munger

I was lucky enough to spend a few years sitting next to legendary Australian Financial Review investment writer Barrie Dunstan who — as I eavesdropped — appeared to have direct lines to all the greatest investors of the time. Including Charlie Munger.

Munger died last night aged 99. He was famous as the straight man for the Warren Buffett show, particularly at the annual investor days, the investment equivalent of a Taylor Swift concert. Although maybe that’s not quite right, as Buffett is pretty dead straight himself.

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I once asked Barrie after a phone call what Munger was like and he said “very heavy feet” — his phrase for someone whose feet were firmly on the ground. Barrie’s conversations with Munger were short and, with hindsight, both basic and profound.

And that was Munger’s strength: his wisdom was born of clear thinking and firmly rooted in reality and fundamental value.