• Saturday, February 24, 2024

HEADLINE STORY

When legendary US investor Charlie Munger said people that like him are mostly from India, China

Munger, who was a close partner of Warren Buffet, passed away in a hospital in Santa Barbara in California on November 28, 2023.

Charlie Munger (1924-2023) (Photo by JOHANNES EISELE/AFP via Getty Images)

By: Shubham Ghosh

CHARLIE Munger, the legendary American businessman and a close partner of Warren Buffett who passed away on Tuesday (28) at a hospital in California at the age of 99, was aware of his popularity in Asia and had also said in an interview in 2019 that most of his followers consisted of nerds from countries such as India or China.

Munger, who was just over a month away from completing 100 years, had told The Wall Street Journal, “Well, the world is very peculiar. And these people that like me are mostly nerds in China or India.”

“It’s a very deep attachment,” he added.

“They’re so passionately interested in improving themselves. Some of them just want to get rich in some easy way, but mostly they’re trying to improve themselves.”

Munger had also told the news outlet that a lot of his admirers in China and India are “graduates of great engineering schools” but he would prefer not to call them investors since most of them consider investing as a speculative game only.

That tributes poured in thick and fast on Weibo, the Chinese equivalent of X, following the demise of the longtime vice chairman of Berkshire Hathaway proved that Munger was right.

Ramesh Damani, a legendary investor in the Indian equity market and member of the Bombay Stock Exchange, also was a keen follower of Munger and said that the American had a deep influence on three generations of the Damani family.

Speaking to Moneycontrol, he also said that the dining hall in an institute in the western Indian city of Pune has also been named after Munger which shows that he is a revered figure in the South Asian nation.

Berkshire Hathaway has also eyed the Indian market for many years while it tried to build a substantial business presence in China, the Observer said in a report.

India has been a key market on Berkshire Hathaway’s radar for years while it has yet to build a meaningful business presence in China, the Observer reported. Besides, Indian-born Ajit Jain, who leads Berkshire Hathaway’s insurance division, is also believed to a successor of the likes of Buffett and Munger.

Related Stories

Loading