Charlie Munger, Berkshire Hathaway's vice chair from 1978 and Warren Buffett's longtime partner, died in 2023 at age 99. With investors growing nervous about the next market crash, the author turns to Munger's advice on staying patient through downturns. Goldman Sachs prime brokerage data showed hedge funds shorting stocks at their highest level in nearly five years, as the current bull market enters its fifth year. Munger said investors should be able to accept 50% price declines two or three times a century, and the article argues that markets have historically recovered from crashes, while retail investors can hold for longer than institutions focused on near-term results.
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SPY
• NeutralSPDR S&P 500 ETF
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/27/2026 | 769.72 |
| Change that session | +0.57% |
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