Remembering My Teacher Charlie Munger
Li Lu's memorial essay on Charlie Munger following his passing in November 2023
Remembering My Teacher Charlie Munger
Author: Li Lu Published: November 30, 2023 Source: Statement Regarding the Passing of Charlie Munger
Overview
Li Lu's heartfelt memorial essay following the passing of Charlie Munger on November 28, 2023. Li Lu was Munger's partner, student, and friend for 20 years.
The Final Moments
"I was on a business trip in Asia when I got the call from the Munger family informing me that Charlie was in his final hours. I hopped onto the next flight I could find to California, and before departure, was able to talk to Charlie through the help of his daughter. Charlie had largely lost consciousness, but still could clearly hear him trying to make a sound to acknowledge he had heard me."
A Twenty-Year Partnership
The relationship began in Santa Barbara, exactly 20 years earlier:
"In that very room, exactly 20 years ago, also on a post-Thanksgiving weekend afternoon, following the introduction by our mutual friend Ron Olson, Charlie and I first struck up a deep conversation which ran for several hours. It began an investment partnership that has now endured two decades."
Charlie as Modern Confucian Sage
Li Lu draws a parallel between Charlie Munger and the Confucian scholar-official tradition:
"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."
The Modern Confucian Virtues Li Lu Identified:
- Making money morally — Only entering transactions where he would comfortably take the other side
- Worldly wisdom through lifelong learning — Reading 200-500 books per year
- Rationality — devoid of envy, resentment, and self-pity
- Stoicism — Persevering through adversities with equanimity
- Detachment from success — Little appetite for the trappings of wealth
- Giving back — Spending wealth on worthy causes and spreading wisdom
Impact on China
Li Lu notes the profound impact Charlie Munger had on China:
"In China, the Mandarin language version of 'Poor Charlie's Almanack' sold over 1.2 million copies over the last 10 years. The educated class increasingly came to view Charlie as the embodiment of the modern-day Confucianism."
Charlie's Legacy
"Charlie's teachings will continue to spread, inspire and impact the world even more profoundly. That will be his eternal legacy."
Related Concepts
Source
Li Lu's statement on the passing of Charlie Munger, November 30, 2023.