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The investing community lost one of its pillars Tuesday with the death of Berkshire Hathaway vice chair Charlie Munger, according to Ariel Investments’ Charles Bobrinskoy.
He was a “true master of investing,” Bobrinskoy, the firm’s vice chair, said on CNBC’s “Closing Bell: Overtime” shortly after Munger passed away Tuesday. “He was a really important voice in value investing and all investing.”
“He was a voice against fraud. He was a voice against irrational activity. He was a voice of reason. He was right there with Warren Buffett throughout all of the great Berkshire Hathaway years,” Bobrinskoy added.
Munger was 99 years old. Considered by many to be an investing genius, Buffett credited him with broadening his focus on finding high-quality companies that were undervalued rather than buying struggling ones in hopes of turning a profit.
For more on Munger’s life, see our full obituary of the investing legend.