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Death – Obituary News : Charlie Munger, the vice chairman of Berkshire Hathaway, has passed away at the age of 99. Known for his blunt statements, Munger once said that EBITDA should be substituted with “bullshit earnings.”
REUTERS: Berkshire Hathaway vice chairman Charlie Munger dies at 99.
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He’s known for saying many things, but there is only one thing you should remember:
“Every time you every time you see the word EBITDA, you should substitute the words bullshit earnings.”
— Jason Ng (@ByJasonNg) November 29, 2023
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Berkshire Hathaway vice chairman Charlie Munger, a prominent figure in the world of finance, has passed away at the age of 99, according to a Reuters report. Munger, known for his sharp wit and candid remarks, leaves behind a legacy that has greatly influenced the business and investment community.
Born on January 1, 1924, in Omaha, Nebraska, Munger grew up during the Great Depression and developed a strong work ethic from a young age. After serving in the U.S. Army Air Corps during World War II, he attended the University of Michigan, where he earned his undergraduate degree in mathematics. Munger later went on to study law at Harvard University, where he met his long-time business partner and friend, Warren Buffett.
Munger’s career in finance spanned several decades, during which he played a key role in the success of Berkshire Hathaway, one of the world’s largest conglomerates. As vice chairman of the company, he contributed to its strategic decision-making and helped shape its investment philosophy. Munger’s sharp mind and insightful advice made him a sought-after figure in the financial world, and his words of wisdom are widely quoted and respected.
Among his many memorable quotes, one that stands out is his view on the widely used financial metric, EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization). Munger famously said, “Every time you see the word EBITDA, you should substitute the words bullshit earnings.” This remark reflects his no-nonsense approach to evaluating businesses and his disdain for misleading financial measures.
Munger’s influence extended beyond his contributions to Berkshire Hathaway. He served on the board of directors for several companies and was actively involved in philanthropy, particularly in the field of education. His commitment to lifelong learning and intellectual curiosity was evident in his speeches and writings, which continue to inspire and educate aspiring investors and business leaders.
As news of Charlie Munger’s passing spreads, tributes and condolences pour in from the business community and beyond. His wisdom, wit, and remarkable achievements will be remembered for years to come, leaving an indelible mark on the world of finance and serving as a guiding light for future generations..
Condolences
@ByJasonNg said REUTERS: Berkshire Hathaway vice chairman Charlie Munger dies at 99. He's known for saying many things, but there is only one thing you should remember: "Every time you every time you see the word EBITDA, you should substitute the words bullshit earnings."
