Damn Right!

Praise For Damn Right! From the author of the bestselling WARREN BUFFETT SPEAKS "Charlie Munger, whose reputation is deep and wide, based on an extraordinary record of brilliantly successful business strategies, sees things that others don’t. There is a method to his mastery and, through this book, we get a chance to learn about this rare individual." ——MICHAEL EISNER, Chairman and CEO, The Walt Disney Company "Janet Lowe uncovers the iconoclastic genius and subtle charm behind Charlie Munger’s curmudgeonly facade in this richly woven portrait of our era’s heir to Ben Franklin. With a biographer’s detachment, an historian’s thoroughness, and a financial writer’s common sense, Lowe produces a riveting account of the family, personal, and business life of this idiosyncratically complex and endlessly fascinating figure." ——LAWRENCE A. CUNNINGHAM, Cardozo Law School, Author of The Essays of Warren Buffett: Lessons for Corporate America "For years, Berkshire Hathaway shareholders and investors worldwide (me included) have struggled to learn more about Warren Buffett’s cerebral sidekick. Now we can rest and enjoy reading Janet Lowe’s book about this rare intellectual jewel called Charlie Munger." ——ROBERT G. HAGSTROM, Author of The Warren Buffett Way "Charlie has lived by the creed that one should live a life that doesn't need explaining. But his life should be explained. In a city where heroism is too often confused with celebrity, Charlie is a true hero and mentor. He lives the life lessons that he has studiously extracted from other true heroes and mentors, from Ben Franklin to Ben Graham. This book illuminates those life lessons." ——RONALD L. OLSON, Munger, Tolles & Olson LLP "Janet Lowe’s unprecedented access to Charlie Munger and Warren Buffett has resulted in a first-class book that investors, academics, and CEOs will find entertaining and highly useful." ——TIMOTHY P. VICK, Money Manager and Author of How to Pick Stocks Like Warren Buffett

1 An Extraordinary Combination of Minds 1 2 The Lake—A Place That Defines Munger 9 3 The Nebraskans 19 4 Surviving the Wars 33 5 Putting Together a New Life 47 6 Munger Makes His First Million 60 7 A Combination of Big Ideas 72 8 Pound-for-Pound, the Best Law Firm 80 9 Operating Wheeler, Munger Out of a Utility Room 92 10 Blue Chip Stamps 110 11 See's Candy Teaches a Lesson 123 12 The Belous Case 135 13 The Buffalo Evening News 141 14 Charlie Munger Goes to War with the Savings and Loan Industry 149 15 The Blossoming of Berkshire Hathaway 164 16 Berkshire in the 1990s—Power Building 176 17 Salomon Brothers 189 18 The Daily Journal Corporation—A Modest Media Empire 203 19 Doing Good at Good Samaritan Hospital 215 20 Elder Statesman and Conscience of the Investment World 227 21 A Time to Reap Rewards 240 Appendix A. Wheeler, Munger Partnership 251 Appendix B. Interview List 252 Appendix C. Time Line—The Life and Career of Charles T. Munger 253 Appendix D. Charles T. Munger's Speeches 257 Notes 277 Index 289