Topic
23 facts from 9 episodes, in date order. These are what speakers said on the shows, each linked to the moment it was said. They aren't independently verified.
1924
Charlie Munger was born in Omaha, Nebraska on New Year's Day 1924 to Al and Florence Munger and was named after his grandfather, a federal judge.
“where in Omaha, Al and Florence Munger, Florence gives birth to a baby boy whom they name Charles Thomas Munger after his grandfather”
1955
Charlie Munger's son Teddy died of leukemia in 1955 at age nine.
“Teddy would end up passing away in 1955 at age nine, which is unimaginable to lose a child at all”
1959
Warren Buffett and Charlie Munger met at a dinner in Omaha in the summer of 1959, when Munger was in town to settle his father's estate.
“the famous summer night in 1959 in Omaha, Charlie is back in town briefly to settle his father's estate.”
early 1960s
Charlie Munger's net worth reached about $1.5 million by the early 1960s, through law fees taken partly in equity and real estate.
“He gets his net worth up to about one and a half million dollars by the early 60s”
1965
Charlie Munger left his law firm, now called Munger, Tolles & Olson, in 1965 to invest full time, with Buffett's encouragement.
“in 1965, he's doing so well investing that with Warren's encouragement, he actually leaves MTO”
1973
Charlie Munger's investment partnership fell 31.9% in 1973 and 31.5% in 1974.
“in 73 and 74, Charlie's partnership falls 31.9% and then 31.5%.”
2011
Howard Marks had lunch with Charlie Munger in 2011, shortly before his book The Most Important Thing was published.
“I was having lunch with Charlie Munger back in 2011 when most important thing was about to come out”
2021
At the 2021 annual meeting Charlie Munger said Greg Abel would preserve Berkshire's culture, effectively revealing him as the successor to Warren Buffett.
“Charlie lets it slip that shocker, Greg Gable is the name in the envelope.”
2023
David Senra had a three-hour dinner with Charlie Munger, then aged 99, which began in Munger's library.
“And the crazy thing is he's 99, right? And so I get there and we start off in his library”
2023
Acquired interviewed Charlie Munger about a month and a half before he died in 2023.
“And then, of course, we got to spend time with Charlie Munger, gosh, a month and a half before he passed away, which is, I feel so unbelievably lucky.”
2023
A host said the Charlie Munger interview episode was Acquired's biggest ever.
“Charlie and Margaret was by far our biggest episode ever.”
Undated
David Senra relays that Charlie Munger said he made $400 million from ideas gained by reading Barron's for 50 years.
“Charlie tells a story. He's like, yeah, I made $400 million from reading Barron's for 50 years.”
Undated
Charlie Munger said Warren Buffett never gambled heavily as a racetrack patron because he wanted the odds in his favor.
“Warren wanted the odds in his favor, not somebody else.”
Undated
Charlie Munger said that if he ran the world he would tax short-term trading gains with no offset for losses.
“If I were running the world, I would have a tax on short-term gains with no offset for losses on anything.”
Undated
Charlie Munger said he bought Price Club stock on the open market before the merger with Costco, receiving no special treatment.
“Yes, I did. But I just bought my stock in the market. I wasn't getting any favor.”
Undated
Charlie Munger said Berkshire-related investors bought a Baltimore department store chain, realized it was a mistake, and reversed the deal.
“We bought this little pissant department store chain in Baltimore. Big mistake. Too competitive.”
Undated
Charlie Munger said a roughly $20 million savings and loan purchase let Blue Chip Stamps take out over $2 billion in marketable securities.
“We bought a little pissant savings loan company for maybe $20 million. And when we left that thing, we had taken out of our little $20 million investment over $2 billion in marketable securities”
Undated
Charlie Munger said true high-conviction opportunities come maybe five or six times in a lifetime, and people who find two or three early often go broke.
“Maybe five, six times in a lifetime you get a chance to do it. And people do it two or three times early. All go broke because they think it's easy.”
Undated
Charlie Munger said he believes China's economy has better prospects over the next 20 years than almost any other large economy.
“my position in China has been that the Chinese economy has better future prospects over the next 20 years than almost any other big economy.”
Undated
Charlie Munger criticized EBITDA, arguing that excluding depreciation, for example on a trucking company's trucks, misstates earnings.
“I think you have a big truck company and take the depreciation out of the trucks out of the earnings.”
Undated
Charlie Munger said that in ninety-five years he gave Munger family money to an outside manager only once, to Li Lu.
“In ninety five years, I have given Munger family money to an outsider to run once.”
Undated
The host recounts that Charlie Munger told him Warren Buffett and Munger bought a pipeline from Enron after a Friday call, and that Buffett wired the money without an email.
“So he said that him and Warren bought like this pipeline or something from Enron, and they got a call on Friday.”
Undated
The host says Charlie Munger named John D. Rockefeller as the greatest entrepreneur of all time.
“And he says it was obviously Rockefeller. That's what Munger said.”
Episodes