Here is what struck me about Charlie Munger in his last years — this man had no intention of quietly waiting for the end on the beach. At 99, he continued making investment moves that seemed crazy, forging new acquaintances, and even building entire business empires with young neighbors.

According to The Wall Street Journal, Charlie Munger’s final years looked very different from what one might expect for someone his age. Instead of a luxury house overlooking the ocean in Montecito, he chose to stay in an old house in Los Angeles without air conditioning. Why? Simply because there were people he valued there, and projects that inspired him. That’s his kind of logic.

And then something happened that shocked the market. Munger, who had avoided the coal industry for 60 years, suddenly decided in 2023 to seriously invest in coal. When everyone was shouting that the industry was doomed, he read an article about it and just said: nonsense. He saw that demand for energy was growing, producers remained profitable, and stocks were undervalued. He bought Consol Energy, then Alpha Metallurgical Resources. By the time of his death, these two investments had brought him over $50 million in profit. A classic Munger move — doing the opposite of what everyone else does.

But the most interesting part is his friendship with young neighbor Avi Mayer. In 2005, a 17-year-old knocked on his door. He was confused, doing poorly in school, and didn’t know what to do next. Munger didn’t just listen — he became his mentor and decided that university could wait. Instead, Mayer started learning through observation and practice. When Mayer and his childhood friend Ruvim Gradon began working in real estate, Munger didn’t just support the idea — he actively invested in their company Afton Properties.

Since 2017, they’ve been buying small apartment buildings in Southern California together. Munger was involved in everything — from choosing locations to paint colors. He even spent hundreds of thousands planting trees to improve the landscape. On his advice, they secured long-term loans at favorable rates. The result? Today, Afton Properties’ portfolio is valued at about $3 billion. And Munger was involved in decision-making right up until the last days — the deal to buy property across from Costco was completed just days after his death.

As for old age, Munger faced it with humor and dignity. A failed eye surgery in 1978 left him blind in his left eye, and later he had problems with the right. He was ready to learn to read Braille if needed. When mobility declined, he gave up golf, started walking with a cane. But he joked that the secret to longevity was Diet Coke, and he said: if only I could become 86 again! Forgetting about healthy eating — he happily ate hot dogs from Costco and Korean fried chicken.

Munger feared loneliness, so he filled his life with communication. Every Tuesday, he had breakfast at the Los Angeles Country Club with businessmen, sharing wisdom. He said: at my age, you either make new friends or have none at all.

His friendship with Buffett remained the main thread of his life. They called each other once a week or two, but shouted so loudly into the phone that their voices could be heard miles away. A few days before his death, when Munger was in a hospital near Montecito, he asked his family to leave the room. He needed to call Buffett one last time. That’s how two legendary partners said goodbye to each other.