Breakfast Bites - Farewell to a legend

Rise and shine everyone

Today is a sad day for the investing world, with the passing of the great Charlie Munger.

A polymath who never stopped reading, Charlie didn’t just make Buffett a better investor but enthralled us all with his wit and wisdom. At the age of 99, he attended his last Berkshire meeting in 2023, for over 5.5 hours and I’d be hard pressed to believe that he never stopped working until yesterday.

After the last meeting, what struck me wasn’t just the simplicity of their wisdom but, how content they were with their lives and more importantly, how they never stopped having fun. We should all be so lucky to live a life like that!

I’ve always deeply admired the man. Today we celebrate a life well spent, of one of the greatest minds of our times.

And now back to work, because that’s what Charlie would’ve done.

The US markets were choppy yesterday and seem to be in consolidation ahead of tomorrow’s PCE release. It’s likely the PCE will follow the CPI and come in cooler. We’re also at the month-end and that should bring some flows, along with the fact that many of the mutual funds have just started their year in November. Governor Waller’s dovish comments seemed to have pushed yields down lower, taking the US Dollar and the Vix with it.

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